There has been a significant increase in the consumption of online content during the COVID19 pandemic.
The digital led-consumption of OTT services and gaming have also increased, helping the industry grow 12-16 per cent year-on-year in 2021, to a market size of $27 billion. Today, OTT has a 7-9 per cent market share in India’s $27 bn M&E industry. However, by 2030, its market share is expected to increase to 22-25 per cent. Meanwhile, television’s market share will decline from around 35 per cent to 24 per cent, a Business Standard report added.
According to a Confederation of Indian Industry (CII) and Boston Consulting Group (BCG) report ‘Blockbuster Script for a New Decade’ reveals that India had 70-80 million paid subscribers of OTT platforms at the end of 2021, which is from 14 million in 2018 and just 0.5 million in 2014-15.
India holds the most potential of any market in the world and its breakneck rate of growth will see total OTT video revenue overtake South Korea, Germany and Australia to jump to be the sixth-largest market in 2024.
“Data centres are the backbone of the internet. They are responsible for storing and processing all the data that is sent over the internet. Data centres have been able to meet the demand for OTT content by using a variety of strategies,” said Shadab Siddiqui, VP Infosec, Hotstar.
According to a PwC report by almost any metric India is a phenomenal market, displaying the fastest growth of any world market at a 28.6 per cent CAGR across the forecast period. buoyed this year by the impact of the pandemic as people entertained themselves more at home. Subscription video on demand will be the prime driver of revenue, increasing at a 30.7 per cent CAGR.
“Our research shows that India will be the fastest growing entertainment and media market globally in terms of pure consumer revenue. Over the next five years, the outlook remains highly positive for digital led segments such as OTT, internet advertising, online gaming music and podcasts that were perfectly positioned to meet consumers where they are in 2020 predominantly at home and online. However, E&M companies simultaneously have to prepare to meet them where they will be two years from now. They will need to build and maintain direct-to-consumer relationships, offer enough differentiation or scale to compete and unlock greater value using the right technologies,” said Rajib Basu, Partner and Leader, Entertainment and Media, PwC India.
To capture these dynamic and ever-changing trends in the OTT space, from storage to reliable networks, W.Media is organising a Digital Event of OTT – Streaming Live And High On Data Centres on 24th March 2022 from 2 PM to 3:30 PM.
The event will consist of a series of panel discussions and presentations. The topics of which include OTT Platforms Binging on Hyperscalers, Considerations While Choosing A Data Centre Infrastructure – How We Choose What We Choose, Scaling IT Infrastructure For The OTT’s Long Haul In The Close-Run Media Race and Evaluating The Readiness Of ‘On-Demand’ Storage.
Abhishek Gupta, CIO, Dish TV and Vimal Kumar, VP – Product, are amongst the few thought leaders who will be a part of the event and share their valuable insights.