Video Over Internet to be $5billion market

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In a report entitled ‘Entertainment Goes Online’, the Boston Consulting Group (BCG) said that over the top (OTT)  content — video content delivered through the internet — is expected to reach a market size of Rs35,730 crore by 2023. It is estimated that by 2020, India will have more internet users than the population of the G7 countries combined; about 48% of these internet users are expected to be from rural areas. According to the report, this generation of consumers from Tier 3 and Tier 4 cities and villages will drive the OTT industry in the country. Along with global players such as Netflix, Amazon, and telecom players, the OTT market is crowded with choices for the customer. The report noted that OTT players with regional content have the potential to tap into international markets too, where there is already a large diaspora that’s used to paying higher average fees for content. The market being largely advertising-led, the report expects 40-50 Mn paying subscribers in India by 2023. Currently, digital media accounts for about 16% of the media consumption in India.

Author bio: IE&M

Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.

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