Entering the era of internet, we find a booming industry where the nuances of viewing television have completely changed. Subscriptions for OTT services seem to have replaced the “Stupid Box” in most homes. Entertainment is now on-demand and of-demand. Globally, cable subscription revenue is expected to show an annual growth rate (CAGR 2019-2023) of 3.2%., whereas, overall OTT market in India is estimated to grow at a whopping 80% from $170mn in 2019 to $300mn by 2022. In 2019, cable subscriptions recorded a jump of 27% over 2017’s numbers with $131mn new subscriptions added. Cable subscriptions DROPPED by 2% to $556mn.
Activities in the sector have become hyper with attention from global biggies such as #Netflix and #AmazonPrime, who are revamping their content to encash on the Indian OTT growth. At the same time, local players such as #Hotstar, #MXPlayer, #Zee5, etc. are betting on their Indianised content and expanding reach to Tier-II and III cities to grow further.
Are we at a tipping point for adoption?
