The report said that Indian subscription video on demand (SVoD) has registered strong growth in 2019 on the back of democratisation of the audience base. The SVoD market grew to $0.5 billion in 2019 up from $0.1 billion in 2018.
As per report, the average Indian’s digital video consumption has grown 2x in the past two years, on the back of surging smartphone adoption and ubiquitous low-cost high-speed mobile internet, coupled with industry’s initiatives. The digital video consumption has increased from 11mins/day to 24mins/day over the past 2 years. Over 2018, this has been driven by a 10-15% increase in numbers of sessions and a 15-25% increase in average time per session.
The report added that the top 4 OTT platforms have spent Rs 2000 crore+ in original content.
Talking about advertising, the report stated that the advertisements in digital video are able to retain more visual attention than traditional TV. 55% of viewers use TV advertising time in multitasking, switching screens or skipping content. In comparison, mobile advertising commands more viewer attention. It noted that a lighter advertising load on OTT can drive higher recall for brands.