According to analysts, falling price of 4G handsets and improved data speed will only transform the Indian digital media and entertainment startup sector. Indian digital and media industry may also see several consolidations among video streaming platform, hefty investment by international music apps and a substantial increase in subscription-based and mobile advertising revenues.
While OTT biggies such as Amazon Prime, Netflix, Hotstar are only going to get bigger, the forecast indicates that with dozens of players at bay, more consolidations are bound to happen with many players exiting the market in 2018. Also with growing subscription, there will be heavy investment in creating original programming and regional content. A major chunk of the credit goes to Reliance Jio which has disrupted the Indian telecom industry with its revolutionary data offering.
As far as the music industry goes, Apple Music and Spotify will focus more on user acquisition as Indians are now active users of music streaming apps thanks to the cheaper data connection and improved internet speed.
According to a source, “Apple Music made small investments in the Indian market and indie artists in 2017. Spotify and others will look more closely at India as more users log on to music streaming apps from different parts of the country.”