Indians Spent 6,000 Crore Mins On OTTs In April; MX Player Beats Netflix, Hotstar, Amazon!
Going through the COVID-19 pandemic and the resultant lockdowns wouldn’t have been possible if there weren’t web series, TV shows, movies, videos to binge-watch.
Reportedly, Indians spent 6,000 crore minutes on various OTTs available in the country in April.
Read on to find out more…
OTT Platforms Gaining Fame Due to COVID-19 Pandemic?
According to CNBC-TV18, there are 55 OTT players in the Indian market as of June 2020 which is a 4x growth in the last 4 years.
In March 2020, Indians spent around 4,600 crore minutes a day on OTT platforms. But as the nation went into lockdown, these figures skyrocketed to a whopping 6,000 crore minutes. A 30% growth on a month-on-month basis can be seen from the figures.
The report also shows that Indians spent 3 hr 54 minutes a day on their smartphones during April. In the pre-COVID-19 times, it was 3 hr 22 minutes and now in August as the country is gradually opening it has further reduced to 3 hr 14 minutes.
Which App Got The Highest Viewership?
MX player saw the highest visitor count of 148.4 million where Indians spent 19,120 million minutes on a daily basis.
This was followed by Disney + Hotstar, Netflix, and Amazon Prime Video.
What Are the Trends Of Online Video Market?
The online video market saw a 5 times growth in revenue from $0.2 billion in 2016 to $1 billion in 2019. At this rate, it is speculated that by 2025, the revenue for this industry can stand at $4 billion.
Talking about revenue, YouTube continues to top the charts with a 43% share. This is followed by other video streaming platforms at 18%, Disney+ Hotstar at 17%, Netflix at 10%, Amazon Prime Video at 6%, SonyLiv at 4%, and Zee 5 at 2%.
With this emerging market, the investment in OTT platforms is also on the rise. In 2019, $0.69 billion were invested in the OTT platforms in India. According to Media Partners Asia, the investment is expected to rise to $1.5 billion in 2025.