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OTT Market in India 2023-2028

Content fragmentation is the strategy of sharing specific content with a specific audience. The OTT players are carefully providing content specific to their platform that is not available on other platforms. This content fragmentation allows OTT companies to build a connection with a highly targeted audience by providing them with exclusive content and converting them to brand-loyal customers.

Original premium content is one of the biggest growth drivers and differentiators as OTT platforms compete for consumers’ attention. In the period spanning 2022-2023, the consumption of OTT content in the English language has notably increased in major Indian cities, including Mumbai, Delhi, Bengaluru, Hyderabad Ahmedabad, Chennai, Kolkata, and Pune.

Indian audiences, influenced by social media, are showing a preference for dubbed versions of popular international shows available on OTT platforms. These shows were not originally accessible through English-language satellite TV channels in India. Global streaming service providers (such as Amazon, Disney-owned Hotstar, and Netflix) compete with domestic service providers (such as Zee5, Voot, and MX Player), as well as a host of regional and ultra-localized players.

On-demand videos are a big advantage for OTT in comparison to traditional linear TV. However, instead of disrupting linear TV broadcasters, OTT is helping them retain their core customers and increase their earnings.

Market segment
The AVOD/advertising revenue model accounted for ~45.30% of the revenue of video OTT players in FY 2023 and is expected to witness growth in FY 2028 to occupy a 46.07% share. In 2022, Jiocinema managed to gain revenue from its advertising model by streaming IPL matches for free. The segment has also garnered attention from other players as well. Jiocinema’s strategy also created a separate target market for live streaming of sports.

The SVoD model focuses on maximizing the average revenue per unit (ARPU), while the AVoD model provides content free of charge during consumption. Subscription-based model is a practical substitute, for consumers seeking convenience, adaptability, and tailored experiences.

Market drivers
OTT providers in India have responded to the diverse demands of their audiences by introducing a wide range of content tailored to specific viewer segments. Thus, boosting the market growth in terms of product offering.

Several new platforms are serving the regional OTT content demand in markets like Karnataka, Andhra Pradesh-Telangana, Maharashtra, Gujarat, Kerala, and Tamil Nadu. Notable platforms operating in this niche include aha (offering Telugu content), hoichoi (focused on Bengali content), Planet Marathi, Koode (offering Malayalam content), and City Short TV (specializing in Gujarati content), among others. ResearchAndMarkets

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