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hoichoi adds 13 million cumulative subscribers in 3 years with 40% of its direct revenue coming from International users

<ul><li>It has chosen to remain a premium player that provides original content.</li><li>Almost 40% of <keyword id="1723835" type="General" weightage="20" keywordseo="hoichoi" source="Orion">hoichoi</keyword>’s revenues come from international subscriptions – US, UK, Australia, Canada, Middle East and Bangladesh are its key overseas markets.</li><li>It’s expanding its distribution globally with tie-ups with telecom players in Bahrain, Bangladesh and more.</li><li>The group’s television background helped them maintain the timelines and stick to budgets, which helped contain creative costs.</li></ul>When Shree Venkatesh Films (SVF), a West Bengal-based film and TV production company, wanted to get into OTT in 2017 – they wanted to start small – launching five original shows across three genres under the brand name hoichoi, which means excitement. Those were early days for vernacular shows – until then Indian original series across languages mostly premiered on YouTube and were short-form content. This was just before the launch of Netflix’s Sacred Games and Amazon Prime’s Inside Edge. Much like these shows, hoichoi’s bets took off too. <div type="image" title="WhatsApp Image 2022-10-03 at 6.08.30 PM." height="900" width="1200" msid="94629590" hostid="261" sizebytes="34982" caption="&amp;lt;p&amp;gt;Soumya Mukherjee, chief operating officer of Hoichoi&amp;lt;/p&amp;gt;"></div> “We saw an initial uptick for our originals. Four out of the five shows we launched created a lot of buzz,” Soumya Mukherjee, chief operating officer of hoichoi told Business Insider India. Ever since, there has been no stopping this regional OTT platform, which now caters to over 250 million Bengalis worldwide. The platform claims to be one of its kind with over 100 originals in a single language and more than 2,000 hours of content across web series, movies, shorts, docu-series and more. Moreover, it claims to have turned profitable within five years of its launch in spite of a large number of in-house productions of original films and shows. The OTT player claims that its direct subscriptions grew 50%, with a 20% month-on-month increase in watch time, in the post-lockdown period. “Along with this, hoichoi continues to have one of the highest refresh rates in India for a single language, with close to 5-7 titles, which includes original shows, world premiere movies and Hindi-dubbed originals releasing every month,” the company said. Turu love, Tansener Tanpura, Karagar and Kaiser are some of its top-rated shows on IMDB. Premium-only The secret, Mukherjee says, lies in its pricing strategy. “From the start, we positioned ourselves as a premium product with around ₹1,000 per annum. From day 1, we knew that content had to be protected and had never looked to diversify. We want to tell great stories with a good mix of movies and shows,” he said. In the US, it charges around $10 per month - on par with what OTT giant Netflix charges in the market. The reason is the love for content in the mother tongue, Bengali, which is the second most-spoken Indian language, as per Mukherjee. “Bengalis are deeply rooted to their culture wherever they are,” he said. In fact, almost 40% of hoichoi’s revenues come from international subscriptions, including the US, UK, Australia, Canada, Middle East and Bangladesh. The OTT claims that customer stickiness is high and almost 70-75% of their subscribers renew subscriptions annually. It premiers a new movie every month and that aids its renewals, it claims. “While our monthly active users have increased by 40%, our international user base has also risen by 30%. Not only do these numbers make us ecstatic, but also motivate us to do even better, as we step into our sixth year,” said Vishnu Mohta, co-founder of hoichoi. Content Refresh: 25 new shows announced Hoichoi also claims to go the extra mile with its user experience. “To help some of our elderly subscribers, we send our people to visit personally and demonstrate as and when needed,” says Mukherjee. As India’s first vernacular OTT enters its sixth year, it announced 25 new shows – four from Bangladesh and 21 from India – with top creators and across genres. For its latest series, it also roped in national award-winning creator Srijit Mukherji, who is creating a crime detective show Feluda. Mukherjee attributes hoichoi’s success to Bengal’s wide talent pool of writers, producers, actors, technicians and directors, in addition to its legacy. “We imbibed the discipline of TV and the quality of films into the OTT venture,” he explains. The group’s presence in television helped them maintain the timelines and stick to budgets, which helped contain creative costs. Their targeted marketing also helped contain marketing costs to 20% of the overall revenue — which Mukherjee claims is one of the lowest in the industry. Over the years, hoichoi launched a lot of new faces, but is also now focusing on bringing in bigger actors into its fold. “Naturally production costs will increase but in terms of revenue growth we are doing ok,” he says. Distribution strategy Last year, the platform became a part of Prime Channels – where multiple OTTs can be subscribed to. While it is seeing traction for its Hindi-dubbed library on Prime Channels as well as on MX Player, it wants to remain rooted in Bengali. Its best-performing show on both these platforms was Charitraheen. It has also partnered with Jio, Airtel XStream, Tata Play and Dish TV and is looking at deep integration within and outside India as well. It has tied up with Bangladeshi telecom players Grameenphone, Robi and Banglalink and also Bahrain-based telco Batelco. Also, the player is not too worried about password sharing, which is the blight of its business. “We do not see too many cases of password sharing. We only offer two simultaneous streaming across five devices,” Mukherjee says. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/auto-sales-remain-buoyant-in-september-with-reports-of-a-good-festive-season-ahead/articleshow/94622721.cms">Auto sales remain buoyant in September with reports of a good festive season ahead</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-set-to-open-on-oct-4-commands-grey-market-premium-of-30/share/articleshow/94620046.cms">Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share</a>

This pioneering regional OTT has turned profitable in 5 years – here’s how

<ul><li>After the pandemic, many of us were stuck within the four walls of our houses and OTT platforms like <keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword>, Amazon Prime and <keyword id="2739840" type="General" weightage="20" keywordseo="hotstar" source="Orion">Hotstar</keyword> sometimes became the only source of entertainment in our lives.</li><li>The pandemic also gave a push to the regional <keyword id="9056838" type="General" weightage="20" keywordseo="ott-industry" source="Orion">OTT industry</keyword> and saw the birth of native language streaming players like Hoichoi, aha, Sun NXT, Planet Marathi, Koode, and City Short TV.</li><li>As per experts, the regional OTT players have already captured 50% of the OTT market in less than 3-4 years.</li></ul>Kaiser, the homicide detective who tries to deal with double murders and his own demons side by side; then there is Three Roses – with young girls who are in the middle of to-be-married mess in the complex Indian juxtaposition of tradition and independence. Yes, you have guessed it right. They are all topics of superhit web series but you can’t find them on Netflix, Prime or even Disney Hotstar – they are from Hoichoi, Bengali OTT and aha, a Telugu and Tamil OTT, respectively. Apart from regional cinema taking over <keyword id="143" type="General" weightage="20" keywordseo="bollywood" source="Orion">Bollywood</keyword>, a silent revolution is underway where regional OTTs are taking away the eyeballs of Indians – by offering them quality content in their mother tongue. And, there are a lot of these. Of the total <a href="https://www.businessinsider.in/business/news/a-cred-like-platform-is-what-indian-ott-users-want-to-juggle-multiple-subscriptions/articleshow/92570894.cms">60 OTT </a>platforms in India, around 12 of them are exclusively regional across languages like — Sun NXT, Planet Marathi, Koode, and City Short TV, which is a hyperlocal content OTT. One movie, every week According to a FICCI-EY <a href="https://www.financialexpress.com/brandwagon/regional-ott-on-the-rise-as-subscribers-choose-native-language-over-hindi/2272860/">report</a>, the share of regional language consumption on OTT platforms will cross 50% by 2025 from the 30% share it held in 2019. As per FICCI-EY though, regional consumption is expected to surpass Hindi, which is predicted to touch a 45% consumption rate. But a few players are confident that it has already hit this number. “The regional OTT market today probably is 50% already of the total OTT market size in India, including all regional languages. It is set to grow faster than Hindi for sure,” Ajit Thakur, CEO of Telugu and Tamil OTT platform aha told Business Insider India. The OTT, which is adding one movie every week, has touched 10 million monthly active users (Maus) in two years. Its app saw 30 million downloads. It has also generated $2 million in non-subscription <a href="https://www.afaqs.com/news/media/telugu-ott-platform-aha-to-rely-on-avod-to-break-even">revenue </a>in the last six months and is considering adding gaming onto its platform and becoming a super app. Aha also intends to target Tamil-speaking viewers as well after winning the hearts of the people who speak the fourth most spoken <a href="https://www.bbc.com/news/world-45902204">language </a>in India and also one of the top 10 fastest-growing <a href="https://www.bbc.com/news/world-45902204">languages </a>in America. The magic price point Apart from the content, the price points of these OTTs are attractive too — as it’s akin to subscribing for a regional TV channel pack as opposed to the full range with all genres and offerings across languages – like Netflix, Prime, Disney Hotstar or even Zee. Hoichoi however has ‘eased’ its subscription with a syndication deal with mainstream OTT players such as MX Player and Amazon Prime. Hoichoi, one of the earliest regional OTT platforms to launch in India, is trying to capture the 250 million Bengali speakers across the world. “The generic OTT market has grown at least 30-50% over the year and we've all outpaced that industry by a fair margin. We've got about 120 odd shows, in addition to about 600-700 movies. In fact, April, May and June were bigger than COVID months for us,” Vishnu Mohta, co-founder of the Bengali streaming platform told Business Insider India. Its extensive content library remains unmatched in the OTT universe. But Mohta says that it’s just ‘getting started’. “I see a stable growth trajectory for the next five years,” he said – which is much higher than the growth in ‘national’ OTTs. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OTT platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Netflix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual mobile </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1788 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon Prime Video </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1499 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">aha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹299 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hoichoi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹999 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Planet Marathi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹365 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Trending across 7 countries Planet Marathi was a pandemic baby as it was launched during the lockdown. As the name suggests it caters to Marathi-speaking audiences India and abroad. <div type="image" title="Planet marathi" msid="92795598" hostid="261" caption="&amp;lt;p&amp;gt;Planet Marathi&amp;lt;/p&amp;gt;"></div> It already has a superhit web show to its name – Raanbaazaar, which delves into the murky world of politics and two escorts and the mindgame involved. The show became the most-watched Marathi series on OTT and trended across seven countries – thanks to the state’s extensive expat population. “We launched 13 Planet Marathi originals and have another 24 planned out over the next year. Our viewership comes from India and across the world. There has been an increase in the stickiness of the content, with time spent by users increasing almost 350% after Raanbaazaar’s release,” said Akshay Bardapurkar, founder of Planet Marathi. In the meanwhile, top OTTs haven’t been ignoring these viewers either. In fact most of them release regional movies and shows with audio and subtitle options – thereby ‘extending’ the reach of regional content to non-regional players as well. The best example in this list is the recently launched Modern Love Hyderabad which has an original Telugu show dubbed across five languages including Hindi and English, for those who want to catch the flavour of the show in their own language. ZEE5 too has <a href="https://www.businesstoday.in/latest/corporate/story/zee5-plans-to-triple-investment-in-tamil-telugu-content-in-2022-328762-2022-04-05">tripled </a>its investment into regional content this year and international player <a href="https://www.thehindubusinessline.com/info-tech/netflix-on-the-lookout-for-regional-language-content-in-2022/article37835172.ece">Netflix </a>is also looking to deeper inroads in India by zooming in on regional market — but whether they would be able to win the war in every regional turf across India is left to be seen – as India has 121 official <a href="https://indianexpress.com/article/india/more-than-19500-mother-tongues-spoken-in-india-census-5241056/">languages </a>and 19,500 mother tongues.

Hoichoi, aha and Planet Marathi - regional OTTs challenging Netflix, Prime and Hotstar

<ul><li><keyword id="18076926" type="General" weightage="20" keywordseo="bbc-player" source="Orion">BBC Player</keyword> and <keyword id="18076927" type="General" weightage="20" keywordseo="bbc-kids" source="Orion">BBC Kids</keyword> will be available for Prime Video subscribers, as an add-on.</li><li>Benedict Cumberbatch-starring Sherlock, BAFTA -winning Happy Valley and crime thriller Six Four are some of the shows that will be available on the streaming platform.</li><li>BBC Kids will offer shows like Hey Duggee, Go Jetters, JoJo &amp; Gran Gran, Sarah &amp; Duck, Junior Bake Off and others. </li></ul>The bustling Indian OTT video market has a new entrant — the legendary BBC, which launched its services on <keyword id="12162669" type="General" weightage="20" keywordseo="prime-video-channels" source="Orion">Prime Video Channels</keyword> on Thursday. Both its OTT offerings – BBC Player and BBC Kids will bring a curated line-up of old and new content across dramas, documentaries, comedies and more. Prime members will be able to purchase an annual add-on subscription of BBC Player for ₹599 – which will also provide full access to BBC Kids. Alternatively, members can subscribe to BBC Kids only for ₹199 annually. BBC’s popular show Sherlock starring Benedict Cumberbatch, BAFTA award-winning Happy Valley, crime thriller Six Four, British political thriller The Diplomat and sitcom Citizen Khan – are some of the shows that will be available on the new OTT offering that’s entering India. BBC Kids will offer BBC Studios’ kids shows like Hey Duggee, Go Jetters, JoJo &amp; Gran Gran, Sarah &amp; Duck, Junior Bake Off and others. “These brands will offer a curated, multi-genre content line-up, offering the best of British entertainment to the discerning Indian audience. Subscribed members will gain access to some of BBC Studios’ latest hits as well as our classics shows, including our well-acclaimed wealth of kids’ entertainment, all under one roof,” said Stanley Fernandes, vice president-distribution, BBC Studios, South Asia. Prime Video Channels bring 20 international and regional OTTs under its umbrella including – Lionsgate Play, discovery+, Eros Now, ManoramaMAX, hoichoi, NammaFlix and many more. Subscribers of Prime Video can add on to their subscription by choosing these OTTs. “Since its launch in India, Prime Video Channels has seen exponential growth in India with people subscribing to Channels of their choice from the length and breadth of the country,” said Vivek Srivastava, head – Prime Video Channels, Prime Video. The Indian OTT market is expected to see a compounded annual growth rate (CAGR) of 14.3% to produce revenue of $3.5 billion by 2027, says a recent report by PricewaterhouseCoopers. “With new launches from international players and increasing pay-lite options, OTT revenue has surged in recent years, expanding a further 25.1% in 2022 to reach $1.8 billion This is over six times the revenue of 2018,” said PwC. The report also estimates that subscription service revenue will expand at 13% CAGR, while advertising-supported services (AVOD) will grow at a higher rate, albeit from a lower base.

BBC takes the India OTT market plunge – Sherlock, Happy Valley & more on offer

<ul><li>The pandemic gave a huge boost to the streaming industry. The <keyword id="1245953" type="General" weightage="80" keywordseo="ott" source="Orion">OTT</keyword> sector in India witnessed a 30% rise in the number of paid subscribers, from 22.2 million to 29.0 million between March and July 2020.</li><li>According to <keyword id="215381" type="General" weightage="20" keywordseo="amdocs" source="Orion">Amdocs</keyword>’ India Streamer 2021 report, 76% of surveyed consumers are expected to add to their current number of subscriptions – the most likely being video streaming services, wellness and e-health, and eLearning services.</li><li>Here are a few changes we can expect from the industry in the near future, writes <keyword id="5626068" type="General" weightage="20" keywordseo="raman-abrol" source="Orion">Raman Abrol</keyword>, GM &amp; Chief Commercial Officer, <keyword id="12413885" type="General" weightage="20" keywordseo="amdocs-media" source="Orion">Amdocs Media</keyword>.</li></ul>The Covid-19 pandemic and resulting lockdowns saw public entertainment across India grind to a standstill. With theatres, cinemas, music concerts, shows and other events closed – and new releases and productions put on hold – consumers flocked to streaming services. 2020 redefined screen-watching for consumers and enabled them to watch their preferred content at their preferred time. A young, growing population with increasing digital skills and more affordable smartphones, growth in mobile and broadband subscriptions and increased time spent at home are among key drivers that have made Over-the-Top (OTT) services a go-to choice for many. As a result, the OTT sector in India witnessed a 30% rise in the number of paid subscribers, from 22.2 million to 29.0 million between March and July 2020. According to Amdocs’ India Streamer 2021 report, 76% of surveyed consumers are expected to add to their current number of subscriptions – the most likely being video streaming services, wellness and e-health, and eLearning services. What changes can we expect on the horizon? This data shows some major emerging trends in the OTT space, which will further transform the way content would be created in the years to come. Here are four areas where we might see traction. 1. Continued demand for personalized, mega-content bundles: Consumers are increasingly looking at options to create and pay for content packages limited to only the content they want to watch. They do not want to pay for the service provider’s entire content library. With schools, offices, and entertainment all coming together under one roof, entertainment services such as wellness, telehealth, e-learning are also becoming popular. However, managing multiple subscriptions across multiple providers is a major challenge that consumers are facing today. To deal with this, communications service providers (CSPs) are looking at offering consumers the ‘perfect bundle’. This would serve as a centralized space where they will be able to access their preferred media and entertainment subscriptions. The Amdocs survey shares that about 56% of the consumers would pay more to include on-demand binge-worthy TV series, 49% would prefer all games for one specific sporting team, 46% of the consumers would bundle up virtual classes/training, while 45% would prefer fitness classes with a “celebrity” trainer. 2. Growing popularity of localized content: The past year has seen a surge in demand for regional content. To cater to this rising demand by viewers for local language content, several regional OTT platforms have emerged in markets like Maharashtra, Gujarat, Kerala, Karnataka, and Tamil Nadu. <keyword id="12413884" type="General" weightage="20" keywordseo="oho-gujarati" source="Orion">OHO Gujarati</keyword> (Gujarati), <keyword id="1723835" type="General" weightage="20" keywordseo="hoichoi" source="Orion">Hoichoi</keyword> (Bengali), and <keyword id="4660234" type="General" weightage="20" keywordseo="sun-nxt" source="Orion">Sun NXT</keyword> (Malayalam) are some examples of popular regional OTT platforms. They have carved a niche space for themselves among the existing big players such as <keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword> and <keyword id="2976376" type="General" weightage="20" keywordseo="amazon-prime-video" source="Orion">Amazon Prime Video</keyword>, among others. These OTT platforms are catering to local tastes and preferences, offering content in regional and local languages, showcasing local cultures, traditions and lifestyles. An increasing number of viewers from tier-2 and tier-3 cities and towns are also driving this growth. For example, since its launch in February 2020, Telugu service Aha Video has reached 1 million paid subscribers. With consumers looking for quality content, irrespective of the language, this trend is only expected to grow in the coming years. Regional language consumption on OTT platforms is expected to cross 50% of the total time spent by 2025, moving past Hindi at 45%, according to a FICCI-PwC report. 3. Rise in low-budget short-films production: Continued uncertainty around the pandemic has made the entertainment industry cautious about spending on big-budget productions. The growing demand by OTT subscribers for new, enthralling and diverse content is leading to an interesting trend gaining momentum – short stories and web series. These realistic, powerful, thought-provoking short films are sitting well with modern viewers. With consumers hungry for authentic, out-of-the box, realistic content, this trend for short, anthology-style films is expected to continue growing. 4. Immersive technology and 5G network will be game changers for Indian OTT players: The growing trend of streaming 4K videos requires enhanced internet bandwidth. With the accelerated pace of 5G technology adoption in the country, OTT providers are planning on providing their customers with seamless 4K video quality streaming solutions. 5G connectivity is expected to drive the growth of immersive entertainment experiences for users. Advanced technologies such as Artificial Intelligence, Virtual Reality (VR) and Augmented Reality (AR) are increasingly proving to be transformative across different areas of the home entertainment industry. With the help of 5G 5 , consumers will be able to watch content using AR/VR gadgets, taking the entertainment experience to the next level. Way forward The OTT industry was experiencing slow and steady growth when Covid-19 acted as a catalyst for rapid transformation of this medium. From being on the curb to jumping onto the main street of entertainment, OTT has captured consumer eyeballs and hearts. Adoption of digital technologies, personalized bundling options, investments in original and locally relevant content, among others, will aid in furthering growth in the Indian OTT space.

How the pandemic has changed the streaming landscape for good

<ul><li>The Indian <keyword id="1245953" type="ORGANIZATION" weightage="20" keywordseo="OTT">OTT</keyword> industry which was roughly of the size of $1.7 billion (both Video and Audio) in FY20 has the potential to grow to become a $15 billion industry over the next 9 to 10 years, according to independent transaction advisory firm RBSA Advisors.</li><li>The pandemic has given a big boost to the OTT industry.</li><li>The massive investments made by OTT services like <keyword id="128682" type="COMPANY" weightage="20" keywordseo="Netflix">Netflix</keyword>, Amazon, Disney+ Hotstar and others in original as well as acquired content will help subscription video-on-demand make up a lion share of the total OTT revenues going forward.</li></ul>India's Over the Top (OTT) entertainment industry has the potential to grow to be a $15 billion industry over the next 9 to 10 years, according to independent transaction advisory firm RBSA Advisors. The size of the OTT market in FY20 stood in the range of $ 1.7 billion (both Video and Audio) and it is burgeoning into a multi-billion-dollar industry, cannibalizing into the established bastion of traditional television, radio and cinema auditorium forms of media and entertainment. With access to better networks, digital connectivity and smartphones, OTT platforms in India have increasingly attracted subscribers on a concurrent basis. Apart from top favourites like Disney+ Hotstar, <keyword id="2976376" type="PERSON" weightage="20" keywordseo="Amazon-Prime-Video">Amazon Prime Video</keyword> and Netflix, the space is seeing many local and regional OTT players, such as <keyword id="3163762" type="PERSON" weightage="20" keywordseo="SonyLIV">SonyLIV</keyword>, <keyword id="3113913" type="PERSON" weightage="20" keywordseo="VOOT">Voot</keyword>, <keyword id="6245082" type="UNKNOWN" weightage="20" keywordseo="ZEE5">Zee5</keyword>, <keyword id="2480506" type="PERSON" weightage="20" keywordseo="Eros-Now">Eros Now</keyword>, ALTBalaji, Hoichoi and Adda Times, to name just a few. <keyword id="1257401" type="PERSON" weightage="20" keywordseo="Rajeev-shah">Rajeev Shah</keyword>, MD &amp; CEO RBSA Advisors, "Covid-19 has changed the way audience consume media. An undeniable trend surfaced in this period with the adoption of OTTs. The growing market and consumer appetite for content of choice available on OTT platforms fuelled this spurt. OTTs offer a never before consumer experience–choice of content, ease of access, choice of device/mediums (hand phone, laptop, tablet or TV screen), liberal censorship policy." Adds Shah, "We find ourselves in extraordinary times, where pandemic has had a negative effect on many traditional sectors. Conversely Covid has accelerated the shift in consumers' behaviour, pulling forward OTT disruption, otherwise which would have taken minimum half a decade." NV Capital Co-Founder and Managing Partner Vivek Menon adds, “India is the next bastion after US for boosting the subscriber base of International OTT players given the highly regulated environment of International OTT players in China. Add to that there are many international entrants like Comcast owned “Peacock” &amp; HBO sitting on the fence waiting to make their mark in India. Looking at this trend as well as the rapid rise of home-grown OTT providers, this industry will continue its strong growth momentum in the years to come.” The quality of content will always remain a significant driver of consumer growth. In recent years, we have witnessed a massive rise in original content being aired on OTT platforms. Apart from creating original content and facilitating binge-watching, networks and production houses have also begun to see value in getting rights to live events and performances. Audiences in India recently saw Filmfare and streaming social networks join forces for the first-ever OTT awards. This was a landmark event for India's media and entertainment industry. The massive investments made by OTT services like Netflix, Amazon, Disney+ Hotstar and others in original as well as acquired content will help subscription video-on-demand make up a lion share of the total OTT revenues going forward. Further, the next wave of growth in the OTT landscape will come from tier 2,3,4 cities and the Indian language speaking population. Key Factors Driving the industry • India has the second-highest per capita consumption of online video in the world • Cheapest mobile data in the world at INR 18.5/GB (2015 - INR313/GB) • Growth in rural internet penetration • The number of smartphone users in India is increasing at astronomical rate •The average monthly data usage per user in India increased 20% year-on-year to 13.5 GB in December 2020 as Indians spent about five hours daily on a smartphone, as per the Mobile Broadband India Traffic Index (Mbit) 2021. • Smartphones with affordable data have also brought the vibrant native speakers base of 22 scheduled Indian languages from Tier 2, 3, 4 cities online and created a massive opportunity • The next wave of growth in the OTT landscape will come from our very own Tier 2,3,4 cities and the Indian language speaking population • The viewing habits of Indian consumers have evolved a lot in the last few years. While on the one hand, short-form video content consumption on smartphones and social platforms has been on the rise, binge-watching shows on various OTT platforms have also become more common on the other hand

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