Online Video Streaming Market in India to Reach $5 Billion By 2023
Nov. 20, 2018This growth is being driven by rising affluence, increase in penetration of data into rural markets and adoption across demographic segments including women and older generations, according to the report by global management consulting firm Boston Consulting Group (BCG).
“Majority of India has a single TV per household. Affordable data has created an alternate medium where consumers, for the first time, can tap into content based on individual preference at a time and space convenient for them,” said Kanchan Samtani, Partner and Director, The Boston Consulting Group.
“Whilst the current market operates with a largely advertising paid content paradigm, consumers are not averse to paying for convenient content access that OTT unlocks,” Samtani said.
The report tilted “Entertainment Goes Online” is based on a consumer survey designed to understand consumers’ motivations in adoptingOTT contentover other conventional modes of content delivery.
Indian content, including music,Bollywood contentand cricket, have a large following in the Indian diaspora also, the study added.
