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The Emergence Of OTT Market In India

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Emergence of OTT Market In India,Startup Stories,Startup News India,Latest Business News 2018,OTT Platforms in India,Top OTT Platforms 2018 India,Growth of Digital Media in India,OTT Market in India,Online Video Market in India

OTT famously known as Over The Top has come a long way in India and there is no stopping. The technology that refers to the delivery of audio and video over the internet is growing exponentially not only in India but, across the globe as well. There is a rise in the number of people shifting their interest toward web based OTT content. With the start up boom and the availability of services online like e tailing, banking, ticketing, entertainment and so on, a large number of people across all age groups are making the best use of the internet. With the deeper penetration of smartphones, faster internet speeds, a wide range of original content people are craving for more digital videos and instant content.

The Global Video Insights Report released by Vuclip revealed as much as 55 % of viewers in India have shifted to smartphones and mobile network usage from broadband as they find it easy to watch  anywhere and everywhere. When compared to traditional broadbands, OTT comes with the latest range of fresh content, high definition quality videos and buffer free experience elevating the primary expectations of customers.

Platforms such as YouTube provides opportunities for independent content creators who can publish their personalised videos without any hassle. Broadcasters who have their own content or video platforms with a variety of publishers are driving the market such as Hotstar, BigFlix, Eros Now, Voot, Viu and so on. However, with the entry of Netflix in India, independent professional content productions are only getting intense in terms of competition.

The very famous Hotstar, was launched back in February 2015 and quickly became one of the largest video on demand platforms in India. Initially, Hotstar was one of the few platforms to provide the best TV shows, movie premieres, live sports and events from across the world. Moving onto Eros Now, it is the OTT arm of Eros International launched in the same year, as Hotstar. The platform works on building content around its parent firm’s library of Bollywood movies and original content as well. While other competitors are in the line including Viu, Voot and SonyLiv, Netflix entered the OTT market in India and is striving hard to change the game. However, to make the competition even more interesting, Netflix recently launched its first Hindi original series Sacred Games and it is receiving a massive positive response from across the globe. Hindi continues to be the most consumed language when it comes to online videos. Hence, the competition to provide with the best and entertaining content is really intensifying by the day.  According to a report, Hindi videos recorded 20,550 million views in the year 2017 in India, across all the platforms. The OTT video market in India is bustling with the competition! The market potential for online content viewing is huge. The emergence of Video on Demand (VOD) service providers brought an evolution from broadcasting to narrowcasting. As of now, viewers can choose from a diverse catalogue of video content in different genres and languages of their preference and watch it whenever and whatever they like.

In a country like India, the media and entertainment sector is rapidly growing and with the emergence of live and linear OTT, it is definitely the next big thing!

 

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Quick Commerce Set to Boost HUL’s Revenue

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StartupStories

Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

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Social Media Platform X Faces Global Outage

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Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

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Acevector Limited Announces New CEOs for Snapdeal and Stellaro Brands

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Acevector

Acevector Limited, the parent company of Snapdeal and Stellaro Brands, has announced significant leadership changes within its organization. Achint Setia has been appointed as the new CEO of Snapdeal, while Himanshu Chakrawarti will transition to the role of CEO of Stellaro Brands.

Himanshu Chakrawarti to Lead Stellaro Brands

Himanshu Chakrawarti has successfully led both Snapdeal and Stellaro Brands for the past three years. In his new role, he will focus exclusively on driving growth at Stellaro Brands, which houses various apparel brands, including Rangita. Chakrawarti brings over 30 years of experience in the retail industry, having held leadership positions at notable companies such as Trent, Arvind, and the Landmark Group. His extensive background in brand building and retail operations will be instrumental in scaling Stellaro’s growth.

Strategic Focus

Chakrawarti’s shift to Stellaro Brands allows him to leverage his experience to enhance the brand’s market presence and operational efficiency. His leadership is expected to drive innovative strategies that align with consumer trends and preferences.

Achint Setia to Head Snapdeal

Achint Setia takes over as CEO of Snapdeal, bringing a wealth of experience in e-commerce, media, telecom, and government services. He has a proven track record in business building, marketing, strategy, and technology. Prior to joining Snapdeal, Setia served as the Chief Revenue and Marketing Officer at Zalora Group in Singapore. He has also held senior leadership roles at Myntra, Viacom18, McKinsey & Co., and Microsoft.

Background and Expertise

Setia holds an MBA in Strategy & Finance from the Indian School of Business and completed the Stanford GSB LEAD program in Corporate Innovation. His diverse experience positions him well to lead Snapdeal through its next phase of growth as it navigates a competitive e-commerce landscape.

Focus on Growth and Innovation

These leadership changes are strategically aimed at driving growth and innovation across both Snapdeal and Stellaro Brands. With experienced leaders at the helm of each business, Acevector Limited is well-positioned for continued success in the dynamic Indian market.

Market Positioning

The transition comes at a critical time for Snapdeal as it seeks to strengthen its market position amid rising competition from other e-commerce platforms. Setia’s expertise in digital ecosystems is expected to enhance Snapdeal’s offerings and customer engagement strategies.

Recent Developments at Acevector Limited

Acevector Limited has been actively involved in restructuring its operations to optimize performance across its portfolio. The company has previously made headlines with initiatives such as:

  • The formalization of a group structure encompassing Snapdeal, Unicommerce, and Stellaro Brands.
  • Strategic investments aimed at enhancing technology capabilities and expanding service offerings.

Conclusion

The appointment of Achint Setia as CEO of Snapdeal and Himanshu Chakrawarti as CEO of Stellaro Brands marks a pivotal moment for Acevector Limited. These strategic leadership changes are designed to leverage their extensive industry experience to foster innovation and drive growth across both brands. As they embark on their new roles, the focus will be on enhancing operational efficiencies and adapting to evolving market demands within India’s competitive e-commerce sector.

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