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Online Video Revenues Could Hit The Rs.10,000 Crore Mark By 2023 28 July 2015

HOOQ

 

Online video business has recently seen a surge with various platforms mushrooming in the country. The Video-on-Demand (VOD) players operating in this space include Zenga TV, NexG TV, Spuul and now HOOQ, with other international players looking to step in. From TV broadcasters to MSOs and DTH companies are all launching their own VOD platforms. Although many are investing heavily in OTT platforms, online video which is a fast growing opportunity will account for less than 10% of the video revenue by 2023 says a recent Media Partners Asia (MPA) report.

Broadcasters such as Zee, Star India, MSM and even Viacom18 have entered the OTT space by investing heavily in their platforms and are looking to capitalize over the decade. This is with the view that online video consumption will complement the existing linear pay-TV business. The report says that eventually subscription OTT video services will take off as bandwidth costs become affordable and compelling exclusive content is made available for online audiences. It however adds that revenue monetization will require more scalability as online video revenues will account for only 10% of the total video industry revenues over the decade.

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