India set for 500MN OTT video viewers by 2023 | Media Analysis | Business
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India’s online video subscriber base is forecast to reach 500 million by FY2023, making it the second-biggest market after China, according to a  report from KPMG and Eros Now.
QYOUIndia 9Sep2019
The survey of India’s online video users found that 87% consume their content on mobile phones and spend an average time of about 70 minutes per day on over-the-top (OTT) platforms.

More than 80% of the respondents said they were now able to fulfill their entertainment needs completely through online videos, with 38% saying they would consider cord-cutting in the future.

“The online video consumer in India has evolved in a significant way in the last couple of years. With consumption now going mass and viewers spending close to 8.5 hours a week on online video, we see a homogenous pattern of consumption emerging cutting across age groups, income levels, and professions,” said KPMG in India partner, head media and entertainment Girish Menon.

“Our report also touches upon the future of this consumption evolution, and how online video could potentially disrupt traditional distribution in the coming years. This represents a large opportunity for platforms to tap into the ever-expanding universe of digitally connected Indians.”

In terms of content, 30% of those surveyed prefer watching movies on OTT platforms , with a further 20% enjoying movie related content such as music video. Of India’s potential cord-cutters, movies and catch-up TV content were of prime importance, while non-cord cutters placed originals higher in their order of preference.

In total, of those surveyed, 10% said they preferred watching originals on OTT platforms. Given the current supply of originals is placed at <1% of overall content, this is a significant indicator of the growing importance of original programming, said the report.

Long-form content is also gaining traction, while short-form content continues to remain relevant, especially to cater to the millennial audience, it found.

Regional language offerings are important, with 30% of respondents stating a preference for watching content in languages other than Hindi and English. The desire for native language content is highest in South India, with Tamil, Telugu, Kannada, and Malayalam listed as the most preferred languages.

The survey was commissioned across 1,458 OTT users in 16 cities of India, including Delhi, Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, Ahmedabad, Jaipur, Ludhiana, Panipat, Nagpur, Madurai, Coimbatore, Bhubaneshwar, Jamshedpur, and Patna.

Eros Digital  CEO Rishika Lulla Singh said: “India is one of the fastest-growing entertainment and media market globally and is expected to keep that momentum. As data and digital infrastructure has become exceedingly accessible even in small cities of India, the market for OTT has widened enormously. At Eros Now, we strive to constantly engage the existing consumers and expand our reach by offering new and innovative services.”