Study: Higher Number Of Releases Is Leading To Strong Growth Of OTT Platforms

Subscription video on demand (SVOD) platforms had the highest NPS

OTT Platforms
High release of sports related content on OTT platforms. Pixabay

Led by sports streaming especially in the Indian Premier League (IPL) months, the OTT video consumption grew 13 percent (on-year) in 2020, a new report said on Wednesday. The consumption increased from 181 billion minutes in January 2020 to 204 billion minutes in January this year, according to data provided by Bengaluru-based market research firm RedSeer.

“Higher number of releases is leading to strong growth for originals and movie consumption on various OTT platforms,” the report noted.

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Subscription video on demand (SVOD) platforms had the highest NPS (net promoter scores), led by Netflix at 59 percent and Amazon Prime at 53 percent, followed by Hotstar, Voot, SonyLiv, Zee5, and MX Player. Both international and homegrown platforms have been heavily investing in creating and promoting more quality Originals.

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“Smaller OTT platforms have only focused on creating relevant Original content and have gained massive traction over the last year,” the findings showed.

A higher number of mainstream releases of popular Bollywood and south Indian movies on Hotstar and Amazon Prime as well as an increased dubbing of international movies into vernacular languages led to increased movie consumption in the country in 2020. India’s vibrant market of more than 40 OTT providers includes regional players targeting the country’s large local-language populations. Even as established players expand their presence in the Indian market through innovations in content and strategy, a slew of new OTT players is set to disrupt and diversify the market in 2021. (IANS)