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Tag: OTT Summit

  • VidNet 2022: How can Indian OTTs reach 100 million subscriptions?

    VidNet 2022: How can Indian OTTs reach 100 million subscriptions?

    Mumbai: In 2021, OTT paid subscriptions in India touched the 70-80 million mark, according to the latest report by Boston Consulting Group. The subscriber numbers remain in flux with high levels of churn and potential marketing efforts are required to generate and acquire new users. The streaming giant Netflix has also reported a decline in its subscriptions for the first time in a decade. The company recently reported that it lost 0.2 million subscribers in the first quarter of 2022. In such a scenario, what can OTT platforms do to drive new subscriptions and reach the magic 100 million subscribers in India?

    That was the agenda for the panel discussion at IndianTelevision.com’s VidNet Summit 2022 held on Wednesday. The two-day summit was supported by technology partners Dell Technologies and Synamedia, summit partners Applause Entertainment and Viewlift, industry support partners Gupshup, Lionsgate Play and Pallycon, and community partners Screenwriters Association and Indian Film and Television Producers Council and gifting partner The Ayurveda Co.

    The conversation was joined by Endemol Shine India CEO Abhishek Rege; International Media Acquisition Corp chairman and CEO Shibashish Sarkar; Swastik Productions and One Life Studios founder and chief creative officer Siddharth Kumar Tewary and Mzaalo (Xfinite Global Plc) COO Vikram Tanna.

    Speaking in this context, Abhishek Rege pointed out that the 100 million is merely an arbitrary number and what OTTs should look at is the revenue model. To entice new customers OTT platforms are offering free trial subscriptions, non-paywalled content and lowering the price of subscription plans, which is eating into their bottom line.

    He gave the example of Amazon’s Kindle device and added, “There was a Kindle available for $79 that served ads and then you paid a little bit more to get the ad-free version. That’s the kind of space we need to look at as OTT players and content creators if we want to land up at better revenues.”

    Mzaalo’s Vikram Tanna observed that for a long time the consumption of media in India has always been subsidised by advertising. The trend continues today with devices like DD Free Dish that offer TV channels for free. “When you look at the mass audience the solution to the problem lies in technology. They are the future consumers for us all. I believe we need to figure out how to make free content profitable. Can you reward the community for consuming content and return a part of the revenue that you earn back to them?” he pointed out.

    Mzaalo is a part of Xfinite Global Plc, which is a decentralised entertainment ecosystem. They have a digital token called XET that is listed on the cryptocurrency exchange. Tanna stated, “We believe in equal distribution of value creation among stakeholders of the ecosystem. Since content drives commerce and we all remember moments rather than the entire content piece, we tried to figure out if you can buy, sell and resell NFTs of content. Of course, they will have multiple other utilities.”

    Tanna concluded his remarks by adding that to reach the magic 100 million target the two pillars that will drive the growth of OTTs will be content and technology.

    Speaking from a content standpoint, Swastik Productions’ Siddharth Kumar Tewary said, “We’re just at the tip of the iceberg of what’s going to happen in terms of content. Content is the biggest driver of subscribers on OTT platforms and he felt that one piece of content doesn’t necessarily reach 100 million people. Platforms need to give the audiences all varieties of content to consume, similar to TV. The only difference is that content consumption on TV was led by appointment viewing and now people can watch anytime they want.”

    He added, “Every platform is different and serves a different audience. While the numbers will come, whether it is SVOD or AVOD, not every platform may be necessarily targeting 100 million subscribers.” Sharing a metaphor, Tewary noted that there are brands that cater to the masses and brands that cater to the classes across categories and we don’t compare them purely by the numbers to understand how big they are. So why should we judge OTTs that way?

    Commenting on whether the growth of OTTs is being driven by content or distribution partnerships, Rege also stated, “The content that we have served to OTT audiences is scaled up and has succeeded not to an extent, though not as much as we’d like.”

    He added, “Content on OTT is certainly different from mainstream TV. Over time an audience that is used to TV needs to be slowly nudged to OTT with simpler content. For them, jumping into OTT content that is nuanced will not get absorbed quickly. However, there is a demand for different types of content on OTT platforms compared to TV.”

    International Media Acquisition Corp’s Shibashish Sarkar believes that compared to 100 years of print, more than 30 years of TV, OTT which is only six years old is still a nascent media and will continue to grow, defying expectations. He questions the way audiences are segmented and served content across platforms.

    “Historically, on TV, we like to segment the audiences as tier 2 and tier 3. These descriptions of audiences don’t hold anymore,” he affirmed. “Going back six months, three out of four blockbusters were South Indian dubbed films. They were attracting audiences in a small town in Rajasthan as well as in Nariman Point in Mumbai. Divisions like language barriers, genres and other content divisions have become redundant,” Sarkar added further.

  • Avia concludes OTT Summit, gives hope for growth in Asia

    Avia concludes OTT Summit, gives hope for growth in Asia

    Mumbai: Asia Video Industry Association’s (Avia) latest OTT summit has come to an end with much optimism for growth in Asia and a strong focus on content and the consumer.

    To make this event a success, Avia hosted over 850 delegates and featured over 80 industry leaders at the OTT summit this year. The panelists were involved in conversations around the subject of growth, from subscriber and revenue growth to increased local content investment and an intense focus on the customer. The adage ‘Content is King’ was very much heard throughout the summit.

    Media Partners Asia co-founder and executive director Vivek Couto indicated that there’s a lot of room for growth in the OTT space. “With most markets having an SVOD household penetration of less than 50 per cent, there was certainly an upside for Southeast Asia and some parts of North Asia as well,” he highlighted.

    He added, “While the region remained bullish on growth, the average revenue per user remained low, particularly in the Philippines, Thailand, Indonesia, and India. As such, some tiers and price increases would be introduced along the way, especially when the premium sport started to be added to the platforms,”

    In MPA’s review of share of first-title consumption, premium local content was a key driver for customer acquisition, particularly in Indonesia and Thailand, with local content that showed some travelability, and as expected, Korean content traveling very well, and some Japanese content as well.

    This focus on content continued through to the fireside chat with Paramount Global SVP, head of office and streaming for Asia Catherine Park. She reiterated that their “mission is to unleash the power of the content with the belief that content is king.”

    “With different go-to-market strategies to unlock maximum value, Paramount Plus planned to launch first in Korea with CJ ENM, then Japan as the next market followed by Southeast Asia in 2023. Park also shared Paramount’s ‘glocal’ strategy – to have global vision but with local execution,” she noted.

    The importance of being local was also echoed by many panelists, as Asia could not be seen as one homogenous market. Discover Inc business development associate director Sagar Pandit feels that “when you gun for growth, especially in Asia, it’s about tailoring your approach for every region but keeping your consumer at the front and centre of whatever you are doing. And with increasing fragmentation in Asia, customer obsession became a key part of the strategy, as more platforms leveraged technology to deliver personalised experiences.”

    Taking the conversation ahead, Mediacorp chief commercial and digital officer Parminder Singh explained the three things a customer looked at. He said, “Customers look for highly personalised and relevant content, and new virtual interactive experiences, all built into one single experience, with the use of technology that would allow you to bring all of this to the customer.”

    “If you are only delivering a straightforward service, you are going to be left behind,” asserted Disney+Hostar head of technology, Akash Saxena.

    However, the challenge to integrate it all into an operator’s platform for a seamless experience very much remained, calling for perhaps greater aggregation and bundling for the OTT industry, as we started to see some fatigue from consumers working with multiple services to meet their content needs.

    Closing off the summit with bold predictions for the future of streaming Viacom 18 digital ventures COO Gourav Rakshit remained very optimistic, sharing that a large bet that platforms had not fully capitalised on was the area of media becoming social, with the opportunity to build communities. “We’ve really made rapid strides in the last five years, the next five will be focusing a lot more on delivering consumer delight,” Rakshit remarked.

    The summit was supported by Gold Sponsors Brightcove, Lumen Technologies, Synamedia, TV5MONDE, Xandr and Silver Sponsors Akamai, Amagi, Broadpeak, BytePlus, Discovery, Encoding.com, Endeavor Streaming, Irdeto, Magnite, Mediacorp, Mirada, NAGRA, Nielsen, PubMatic and Vindicia.