According to a survey published by Consultancy.in, India's OTT business is fast expanding, with consumption per minute increasing from 181 billion to 204 billion
OTT Platforms
It has been observed that the emergence and expansion of OTT Platforms is affecting the television industry in India. It is challenging the current dominance of traditional television in India. The popularity of OTT Platforms among the vast population of India is incredible. According to the survey, more than 50% of India's population is connected to digital platforms, and this largely accounts for the growth of OTT Platforms in India.
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According to a survey published by Consultancy.in, India's OTT business is fast expanding, with consumption per minute increasing from 181 billion to 204 billion.
So based on this data, it can be assumed that OTT Platforms have made its roots very strong in India. Here we are outlining a brief description of the factors that led to the expansion of OTT Platforms in India.
Audience Of OTT Platforms in India
Over the years, the Indian population has become more aware of the digital world. They prefer smartphones or laptops for visual content. The COVID-19 pandemic has contributed to a great extent to the expansion of OTT Platforms in India. Due to the lockdown situation in 2020, people were more engaged with the internet.
It is estimated that the Indian user’s graph in OTT Platforms will reach 500 million users by 2023. Presently, the users of the OTT Platforms are 350 million. Among the top OTT Platforms, Disney+ Hotstar is the most popular OTT Platform in India with 43 million subscribers. After this, Amazon Prime Video (17 million subscribers) and Netflix (5 million subscribers) are the two other widely-used OTT Platforms in India.
The Factors of the Expansion of OTT Platforms In India
The main factor in the expansion of the OTT Platforms is the convenience of the Platforms. You can access the OTT Platforms through your smartphone. You just need a high-speed internet connection.
The rapid expansion and use of smartphones in the Indian population have led to an increase in digital consumption. Reliance Jio has contributed to making the Indian population digital-oriented, offering high-speed internet at affordable rates.
Impact of OTT Platforms on Diverse Age Groups in India
The impact of OTT Platforms has been visible in different age groups of the Indian population. Children, adults, and old people are connected with them. OTT Platforms are providing benefits to students, professionals, and entrepreneurs, providing different content based on the needs of the users.
Children are benefiting more from the valuable content related to education available on those platforms. Similarly, OTT Platforms offer different categories of business-related content which benefit entrepreneurs and professionals at large. The youth community is the largest audience of OTT Platforms in India. With constant content updates, OTT Platforms have proved to be a blessing for all age groups in India, meeting their content needs.
Bottom Line
Providing all categories of content including education, entertainment, spiritual, health, religion, sports, etc. OTT Platforms are now replacing traditional television in India. People now want to fulfill their visual content requirements on the go instead of sitting in front of the TV. And as a result, the majority of the population of India is getting attracted to OTT Platforms which will ultimately drive the growth of the OTT market in India.
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