The Top Ones in the Race of Over-the-Top
Understanding OTT and OTT Platforms
The complete form for OTT is over-the-top. This technology was used initially for the devices that go on the top of a cable box to give users access to TV content. This new technology allows the content to be delivered to the users through an internet connection instead of a traditional cable/broadcast provider. This technology uses an application or service to pass the contents to its users, thus bypassing the conventional distributions. These technologies and applications are mainly related to media and communications. Therefore, they are much cheaper than traditional cable providers. For example, some prevalent names in OTT platforms in India include Amazon Prime Videos, Netflix, Hotstar, Zee5, Voot, Viu, and many others.
Indian OTT Platforms (2024) – Statistics Speak!
It is clear from various reports that the Indian OTT market mainly comprises content streaming services. This market, as per reports, is likely to get a hike in recent years and will be ranked among the top 10 markets in the world.
As per a report by PWC, the market size is estimated to grow to USD 823 million by the year 2023. The report also stated that the Indian video OTT market has entered the growth phase of its market lifecycle and is supposed to outperform the markets globally with a CAGR of 22.6% from 2017 to 2024.
Top 10 Most Popular OTT Platforms in India (2024)
Since the Indian video OTT market has been outperforming in the global markets for quite some time, here is a list of the top 10 most popular OTT platforms in India in the year 2024, which one must try:
Amazon Prime Video:
Just as Netflix launched in India, Amazon came up with their new OTT player, Amazon Prime Video. The subscription rates are currently Rs.999/year.
As per the internal reports by the Director of Content at Amazon Prime Video, India has the highest number of accounts for Prime membership. It is growing very fast among all the 16 countries where they have launched it.
Hot Star:
The video streaming platform Hot Star by Disney Company has a record viewership of 267 million in its recent inception in the Indian market. The venture is a Star India subsidiary, officially launched in February 2014.
During its launch, this application generated 340 million views for the ongoing IPL and World Cup series 2015. The Hot Star platform is accessible via many modes, like websites and mobile apps on Android and iOS devices.
Netflix:
One of the most prominent OTT players in the Indian market is Netflix, launched in 2015. The Company is headquartered in the USA and is now available in many countries, including India.
The subscription charges range from Rs.500/month to Rs.800/month. They also provide a one-month free trial as well. The reason behind the wide usage of Netflix globally is its strategy of advertisement-free content streaming in India.
Sony LIV:
Launched by Multi-Screen Media in 2013, Sony LIV has been doing well in the market. The player provides its viewers with both free and premium content.
To go the extra mile, they have partnered with SPI International to bring seven international television channels of different genres to attract more audiences. The subscription is as low as Rs.99/month.
Sun NXT:
Sun TV Network has been trying to expand its presence in the OTT segment named Sun NXT. The Company has been earning some significant growth through its OTT segment.
The Company majorly launched its digital content in four languages – namely Tamil, Telugu, Malayalam, and Kannada in 2017. Still, lately, it has expanded the content library to many genres and languages based on subscriptions.
ALT Balaji:
This OTT platform is an advertisement-free subscription-based service provided by Balaji Telefilms Ltd.; the content consists of films and television productions by the Company.
They telecast over 32 original shows in various languages, including Hindi, Gujarati, Bengal, I, and Tami, for a subscription charge of Rs.300/year.
They are coming with the idea that over time, customers will pay for the content they want to watch; thus, ALT Balaji provides them with diversified content belonging to different languages and genres.
Viu:
Charged with a subscription amount of Rs. 99/month, Viu was launched in India by a Hong Kong-based PCCW Media Company named Viuclip. This is also a video-on-demand service for those customers who like to watch advertisement-free content as per choice and likes.
They also telecast fresh Bollywood and Indian regional movies over 10+ languages, giving the users 17,000+ hours of content viewership.
Zee5:
Launched by Zee Entertainment Limited, the Zee5 is an OTT platform for expanding its operations in the digital segment. They provide both Indian and international content in over 12 languages, which include Hindi, English, Bengali, Malayalam, and many more.
They charge a Rs.99/month subscription for a premium viewership and provide 1,00,000+ hours of content, including TV shows and web series.
Voot:
Viacom18 launched its digital segment by the name of Voot, which is a video-on-demand platform. Belonging to one of India’s largest growing media networks, Voot offers its audiences various content choices.
Its contents include COLORS, MTV, Nickelodeon, and many more. Also, they have been aiming to capture fresh and new-age content without copying too much.
Eros Now:
Eros International launched its digital segment in 2015 with the name Eros Now. The platform broadcasts content from its parent firm’s library and some original segments.
The platform caters to languagesinclude Hindi and English, with a user base of over 80 million registered users.
End Note
This new technology has, over time, disrupted the entire traditional model of cable service providers, which has changed the whole face of the entertainment industry, especially for the young generation. As a result, there is a rising conflict between the companies that provide similar services in the industry. The excellent part is that great choice is offered to the viewers, who get a a great dose of at-home entertainment!
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