How India is ‘Cutting the Cord’ to drive an OTT revolution

 - Sakshi Post

Ever since the pandemic, digitalization has taken the centre stage in our country. With the advent of
COVID-19, every sector got disrupted. However, the media and entertainment industries got a boom.
The reasons behind the growth were the accessibility of the platforms and the availability of time.
Currently, the scenario of the new normal is also verifying the need for an online platform across the
globe as we consistently work to grow and sustain. The growing demand for unlimited access to original
and high-quality content is driving the rise in the popularity of over-the-top (OTT) platforms. Hence, as
the market is expanding exponentially with the emerging technologies, so is the growth of OTT.

Over-The-Top Platform

The media and entertainment business have consistently been one of the most important sectors in
India. According to IBEF’s reports, the Indian media and entertainment sector is anticipated to reach
$100 billion by 2030. However, both the global lockdown and the emergence of cutting-edge technology
for the entertainment industry have changed the game. As people became confined to their homes,
they turned to digital displays for entertainment. This is where the rise of the OTT platform gets the light
in our eyes and becomes a dominant platform in India and around the world.
The word "over-the-top" describes the new delivery method for movies and TV shows through the
internet without the requirement for traditional broadcast, cable, or satellite pay-TV providers. It is used
to describe streaming across different devices whenever we want.

Over the past two years, a variety of content has been uploaded on the OTT platform and, due to the
availability of huge transit VOD, has emerged as a trend in the industry. Video on demand, or VOD,
allows viewers to access television shows, movies, and other video content whenever they choose. Its
central idea is illustrated by the ease with which your viewers can now select programming from a
database of available materials and instantly watch it on a television, computer, or mobile device via an
interactive interface. With this, India has become one of the fastest-growing markets for OTT service
providers or streaming platforms in the world.

New-age Technologies: Easing the Growth

The utilization of new-age technology such as artificial intelligence (AI) in the entertainment industry is
easing the process of reaching viewers with their favorite content. In this scenario, we are using AI to
determine what customers want to watch and can earn more revenue and deliver more personalized

experiences to retain customers. Also, emerging technologies like 5G, synonymous with high speed and
ubiquitous connectivity, will ensure OTT experiences like never before that don't keep buffering, lag
annoyingly, or display unwanted pixelation. The 5G-powered OTT will also give a massive boost to both
live-streaming and VoD segments with its 10X decrease in end-to-end latency, 20X faster speed, and
higher bandwidth. Hence, once the market had analytics and technology to meet the needs of the
audience, it began innovating and relying on new-age technologies to ensure audience engagement.

Cutting the Cord to Drive the Revolution

According to expert analysis, India has 503 million users who access OTT platforms. According to
Statista, the number of users of the OTT video segment is expected to reach 650 million by 2025. The
report further states that the reason for this expansion is a steady increase in internet users; access to
cheaper, quicker bandwidth; the introduction of more inexpensive plans, including the introduction of
freemium models; and a profusion of content. Furthermore, by providing a plethora of content,
languages including regional and vernacular, as well as on-demand viewing options, the industry is also
acting as a driving force.

According to Statista, the Indian OTT video sector market volume is poised to reach $3.76 billion at a
CAGR of 8.23% during the forecast period 2022–2027. Hence, with the availability of content from
anywhere and at any time, consumers are cutting the cord and shifting from paid TV subscriptions to
internet streaming. Hence, by cutting the cord, the industry will indeed drive the revolution of the future
growth of this competitive edge.

Way Forward

Countless people have already switched to OTT platforms since they are more convenient. Based on this
rising tendency, businesses indeed need to think that the OTT video streaming market would present
fresh chances to expand their reach. Companies should take advantage of this unparalleled chance to
present their products directly to audiences as OTT user numbers steadily increase.

The article is authored by Arshdeep Singh Mundi, Managing Director, Netplus


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