![]() “Short form video ecosystem is a three-sided network of users, creators, and advertisers, powered by a technology platform. The market is now occupied by a mix of specialist SFV apps and global social media/video giants such as Moj, MX TakaTak, Josh, Roposo, and Zili-which have more than 100 million downloads each.Īlso read: Theatrical window for films' OTT debut likely to go up as Maharashtra set to reopen cinema halls The Indian government’s ban on TikTok in 2020 led to an explosion of Indian upstarts targeting the opportunity. TikTok, owned by Beijing-headquartered ByteDance, was the first large SFV platform in India, with over 200 million users and 20 million content creators posting at least one video a month. However, there is plenty of room for growth, with India lagging China by three to four years in terms of user penetration,” the report said. The SFV market has exploded over the past two years in India too-more than 200 million Indians watched SFVs at least once in 2020, with daily active users spending up to 45 minutes a day on these platforms. “China paved the path for the SFV market globally over the past decade-more than 90% of internet users in China are on one of the SFV platforms, spending on average 84 minutes per day on them. Short-form videos (SFV), or typically content that is less than 2 minutes, is also seeing a surge in the Indian market. Content drives differentiation, and it is possible for multiple platforms to co-exist in steady state, as seen in developed markets,” said Abhishek Raj, senior manager, Bain & Company.Īlso read: How Ajay Bijli plans to ensure safety as PVR adds 19 more screens ![]() This will require access to large amounts of capital as well. “Successful players will focus on three areas as they onboard the next wave of users and drive engagement: tech-enabled hyper-personalisation, creator enablement and lock-in, and monetisation. “Sports content has helped players such as Disney+ Hotstar expand their user base significantly, with the platform seeing a 50% increase in monthly active users during the Indian Premier League in 2020,” the report said. Paid subscription-based platforms like Netflix, Amazon Prime Video, and Disney+ Hotstar, saw a sharp uptick in users last year, especially during the first lockdown in March through June 2020. YouTube has always been the juggernaut in the LFV space, but other players are also growing at a fast clip. “Despite this rapid boom, there exists massive headroom for growth-online video user penetration in India is nearly 60% of internet users, compared with more than 90% in China,” it said.Īlso read: T-Series, Reliance Entertainment sign $135 mn deal for 10 films: Report Over this period, the time spent on online videos per daily active user per day has increased by 60% to 70%. Today, India’s online video user base has scaled to more than 350 million people-growing at 24% annually from 2018 to 2020. The Covid-19 pandemic is another contributing factor fuelling the rise of LFVs, the surge bolstered by prolonged lockdowns and with work from home becoming the new normal. “A strong push on regional and vernacular content will accelerate this even further-85% of content viewed is non-English, and 30% is in languages other than English or Hindi,” the report said. This growth, the report said, will be driven by a steady increase in the internet user base, access to cheaper, faster data, the introduction of more affordable plans, including the advent of freemium models, and a proliferation of content. Long-form video (LFV) in India is poised to grow to a whopping 650 million users by 2025, according to a new report by the American consultancy firm Bain & Company.
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