Mumbai: The OTT ecosystem in India has been evolving by leaps and bounds in recent times with amazing and diverse content being churned out on the plethora of platforms on the connected web today. Even as the OTT subscription market in India continues to grow at a gradual pace, it remains an exciting prospect for an increasing number of marketers and advertisers who are keen to promote their brands and ads on these emerging platforms.
IndianTelevision.com organised the sixth edition of its Annual Vidnet Summit with an aim to have an in-depth look at the way forward for the OTT ecosystem and all the platforms on it, and the opportunities and the challenges in the space. The two-day summiit had technolgy partners Dell Technologies and Synamedia, summit partners Applause Entertainment and Viewlift, industry support partners Gupshup, Lionsgate Play and Pallycon, community partners Screenwriters Association and Indian Film and Television Producers Council and gifting partner The Ayurveda Co.
The first day of Vidnet 2022 saw an interesting mix of sessions on the subject with bristling conversations from industry experts and stakeholders on the various panels. The day’s sessions kicked off with an informative report on 'OTT Consumption & Advertising Trends' presented by Carat India associate vice president- strategy Sayami Podder. The report provided insights on the key factors that have driven the growth in the space such as OTT first releases, low subscription cost, regional content, live events and Connected TV. The report also looked at who is driving the growth and estimated that the large potential audience base of 70-80 million paid subscribers comprises the age group of 15-35 years, while amongst women consumption is driven by the 25-35 years age group.
The report also estimates that the viewing time spent on these streaming platforms have gone up from two hours pre-covid to 4.45 hours, even as the minutes of consumption have spiked from 181 to 204 billion minutes in 2021.
Video consumption of non-fiction content beyond television on streaming platforms is also on the rise, as per the report, with the viewership for such series on Netflix alone growing by over 250 per cent.
Digital viewership of non-cricket sports too saw an increase of 310 per cent, according to the report, while the IPL audience is expected to become even bigger with a 20-30 per cent spike in match watch time over IPL 2021 on Disney+ Hotstar.
