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Next Billion Consumers Set To Begin Their Streaming Journey

In the coming years, we will see more and more content creators create engaging stories to meet the diverse content need of every audience segments thereby enchanting viewers and scripting the success for the category.

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2020 was the year for Digital Video on Demand! We witnessed an accelerated rate of digital adoption, offices and classrooms went completely virtual, kids turned coders, content creators experimented with their releases on digital, and businesses with a digital first approach really took off. An integral part of the entertainment industry, digital studios too were one of the few businesses that grew in 2020. As we enter 2020, the Indian OTT industry is poised to shine

The year 2020 created a sort of a level playing field for the digital entertainment industry to innovate and experiment. We saw many breakthrough ideas come out of the challenging times with the deluge of great content made leveraging technology emerging a game-changer. We at Voot Select were one of the first in the category to experiment with a show called The Gone Game, a one of its kind series that was completely produced and shot during the lockdown. The show went on the generate a tremendous response from our audiences, proving that great storytelling transcends technology and operating challenges

Another important and category-defining trend that gained momentum in 2020 was the digital-first concept across genres and categories triggered by the macro scenario. We launched India’s largest reality phenomenon Bigg Boss exclusively for our premium subscription audiences with a digital first approach and the viewer offtake to this proposition has been phenomenal. This is testimony to the growing reach and impact of OTT. Going into 2021, we expect this trend to further evolve and take centre stage. Stories too will be created keeping in mind a digital first audience preference as opposed to just stories that release on other mediums before they come to a digital platform.

2021 is going to be the year when the OTT industry capitalises on the gains made in 2020. Viewers, both in urban and rural India now introduced to range of storytelling on digital are looking for exclusive and quality-oriented content at convenience and are willing to pay for it too. We will hence see the Subscription segment witness significant growth bolstered by great story telling, intent to spend and expansion of markets beyond the top 10 cities in the country. At Viacom18 Digital Ventures, we are well-placed for 2021 and are on track to delivering a robust content slate with stories that deserved to be told. Viewers can expect content that is built on quality and has an element of excitement and thrill along with it.

The year 2020 will go down in history as a watershed year, a year where businesses had to pivot and adapt. This was true for the Indian media and entertainment industry as well with the OTT industry witnessing significant growth. In the coming years we will see more and more content creators create engaging stories to meet the diverse content need of every audience segments thereby enchanting viewers and scripting the success for the category. Despite the challenges that the category will face in terms of production, distribution, etc, there still is enough of opportunity to grow, connect and entertain the next billion set of consumers.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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Gourav Rakshit

Gourav Rakshit, COO, Viacom18 Digital Ventures

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