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BANGALORE, INDIA, May 4, 2022 – (ACN Newswire) – The Asia Video Industry Association held its third Future of Video India virtual conference to much optimism as industry leaders remained bullish on India’s long-term view, after its fifth straight quarter of economic expansion, with all round economic recovery and an economic rebound that is much broader based and across multiple sectors.
Mihir Shah, Vice President, India, Media Partners Asia, opened the conference with an outlook on India’s video market, which showed a sharp rebound in the TV advertising market, after a depressed 2020. The market grew 37% last year and stood at U$S3.8 billion now. While the broader Pay TV industry continued to see a lot of pressure, Free to Air revenues have surged, and the pandemic has resulted in the rapid adoption and consumption of Connected TV especially in the urban centres. With a Total Video Market worth US$12 billion and growing at 5% CAGR in the next 5 years to US$20, the AVOD market was also predicted to remain buoyant and triple in the next five years, with SVOD doubling as well.
This optimism for the market continued with the keynote conversation with Sunil Rayan, Head, Disney+ Hotstar India. With the mission to making the streamer as accessible to as many people as possible, Disney+ Hotstar India had made a significant shift to an SVOD offering while maintaining their freemium ad-supported model, which continued to be much larger than SVOD. “We’ve had significant growth in the SVOD side. But India is a highly price sensitive market and AVOD gives scale so we are always trying to balance the two,” said Rayan. Their content offering had also evolved into ‘cricket plus entertainment’, with a shift both in investment and quality of entertainment that is digitally native. Rayan was also of the view that the streaming market was highly vibrant, and there was certainly room for multiple operators. However, as the ecosystem developed, the content needed to be targeted at…
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