The rise in demand for over-the-top (OTT) content has been pretty evident. Even if people don’t subscribe to the OTT platforms directly, they do ask for the subscription login details from their friends or families to watch content on the go. The reason why OTT is getting popular is that it gives control back to the users. People can watch their favourite content regardless of the time or wherever they are, directly on their smartphones. The access to content with OTT platforms is easy and hassle-free, so why not!
According to PwC’s Global Entertainment Report, the OTT market in India might reach Rs 11,976 crore by 2023 compared to Rs 4,464 crore in 2018.
Advertisers Finding New Ways to Reach People With OTT Platforms
Wherever more eyeballs fall, you will find advertisers lurking in the corner. With OTT platforms growing in demand and more and more people latching on to new platforms every day, the advertisers’ interests’ are shifting from cable TV to OTT platforms.
Don’t get me wrong, there’s just no way that OTT can beat satellite/cable TV services any time soon. But, with OTT platforms, there’s something more that the advertisers can do, and that is to show personalised ads. This is a conversation for some other day, but it is already happening on free video platforms such as YouTube.
The only downfall for OTT in India at the moment is the lack of connectivity in every part of the country. While satellite TV can be an option for rural India, OTT platforms need strong and fast Internet connectivity to make a difference. This is why it will take much more time for the OTT platforms to grow in India.
According to a report from IIFL Securities, a recent survey has revealed that 66% of Indian households subscribe to at least one OTT service. This is an amazing stat and certainly encouraging for the OTT platforms in the country.