India’s $6 Billion Streaming Sector Is Having Transformative Impact on Film, TV, Talent and Gender, Says Study (EXCLUSIVE)

As someone who has spent years working in the Indian film and television industry, I can wholeheartedly affirm that the shift towards streaming platforms has been a game-changer. The opportunities for actors and other creative talent have expanded exponentially, offering more flexibility and scope to explore characters and stories in depth.

Indian streaming platforms like Netflix’s “Heeramandi,” Amazon Prime Video’s “Mirzapur,” and Disney+Hotstar’s “Bad Cop” may soon outshine the influence of Bollywood in the entertainment industry.

The new report reveals that India’s large population and adoption of various video streaming platforms are significantly impacting its media industries, economy, and global image. (Paraphrased)

A research paper titled “Beyond Screens: The Influence of Video on Demand (VoD) on the Creative Economy” was released recently. This study was funded by Amazon Prime Video India, and it was carried out by Media Partners Asia, a media research firm based in Singapore.

The report depicts a sector that currently receives nearly $6 billion in annual local content investments, similar to South Korea’s figure. It also shows that India ranks among the top three markets for new subscribers and revenue growth for both Amazon and Netflix.

The upside is huge. Annual content investment in India is just $4 per head of population. That compares with $80 in Japan, $120 in Korea and $370 in the U.S.

MPA indicates that following a period of frenzied expansion through mergers, acquisitions, and risky investments in premium content and various pricing structures, the industry is shifting towards more prudent business strategies. Notably, streaming revenue growth is on the rise.

Based on my experience working in the industry and observing its growth trends, I strongly believe that this sector is poised for significant expansion. According to the MPA, it could potentially employ up to 280,000-330,000 people by 2028. This is a substantial increase from the current workforce of 174,000, and it’s an exciting prospect for those looking to enter or expand in this field. Furthermore, this expansion will not only benefit the sector itself but also impact allied industries positively. I’ve seen firsthand how interconnected businesses thrive when one sector grows, creating opportunities for innovation and progress. It’s an exhilarating time to be part of this industry!

Now, streaming services have surpassed movie production as a primary income source for companies.

During the Covid-19 pandemic, India’s online video industry took center stage, becoming essential for the film industry as cinemas were shut down. From 2020 to 2022, approximately 300 digital first releases premiered, generating significant income for the sector. Presently, film producers are flourishing, with streaming revenues accounting for 1.5 times their net earnings from theatrical box office. Moreover, investments in local original shows and series have experienced rapid growth, now comprising more than half of entertainment expenditures on pay-TV, excluding movies and sports. The report’s graph indicates a potential increase of up to 174% by 2028 due to the expansion of digital rights businesses and the eventual plateauing of theatrical revenues.

The report states that online video platforms have produced over 1,000 Original contents between 2015 and 2023, acting as “representatives of India’s intricate cultural heritage” by presenting a wide variety of local narratives through original series and films. This is significant both domestically and internationally.

In the initial phase of streaming, there was a preference for narratives originating from the bustling urban areas of Maharashtra, Tamil Nadu, Andhra Pradesh, and Telangana. However, there’s been a noticeable transition towards Hindi heartland regions and less explored states. Some examples include “Kohrra” on Netflix, which is based in Punjab; “Dahaad” on Prime Video, set in Rajasthan; “Panchayat” also on Prime Video, which is situated in Uttar Pradesh; “Kaala Paani” on Netflix, set in the Andaman & Nicobar Islands; and “The Last Hour” on Prime Video, which unfolds in the Northeastern parts of India.

More and more people abroad are becoming interested in Indian content, and it’s not just the diaspora communities who are tuning in. In fact, a quarter of the demand for Indian titles on Prime Video comes from viewers outside India.

During the entirety of 2023, Prime Video’s Indian originals repeatedly appeared in the Global Top 10 charts for all types of content (English included) for an impressive 43 out of 52 weeks. In comparison, Netflix’s Indian films and series graced the Global Top 10 non-English content list for a staggering 49 out of 52 weeks in 2023. Over 60 Indian stories, with 17 being Netflix India originals, managed to secure spots among the top 10 globally in the non-English category. ZEE5 Global reported an impressive 46% increase in original content viewing by US audiences year-over-year.

The Amazon Prime Video series “Inside Edge” became the initial Indian fictional program to receive an Emmy nomination. Later on, “Sacred Games,” “Four More Shots Please,” and “Made in Heaven,” all streaming on Netflix, also earned Emmy nods in following years.

The report highlights that Indian artists, be it actors, writers, or directors, now have a valuable chance to exhibit their abilities and imagination on a worldwide platform. The thriving entertainment sectors in South Korea and Japan have attracted global attention towards Asian economies, including India, for their potential to disseminate content globally. Consequently, there is an expectation that Indian content will significantly impact the global entertainment industry, much like the influence of K-pop music, K-dramas, and Japanese anime.

The report suggests that streaming has been great for actors – new, veterans and some making a comeback – and for other creative talent. Heroes of streaming have included Vijay Verma, who has appeared in 12 shows, Jitendra Kumar (17) and Vikrant Massey (13). Mainstream film actors who have taken the streaming route include Saif Ali Khan (“Sacred Games,” “Tandav”), Kareena Kapoor (“Jaane Jaan”) and Anil Kapoor (“The Night Manager,” “Thar”). Comeback have included Madhuri Dixit Nene, Raveena Tandon and Sanjay Kapoor.

Some actors have broken through language barriers to achieve success in various Indian productions. For instance, Pratik Gandhi, a popular Gujarati actor, has appeared in widely acclaimed shows like “Scam 1992: The Harshad Mehta Story” and “The Great Indian Murder.” Swastika Chatterjee, a renowned Bengali actress, has made her mark with roles in “Paatal Lok” and “Criminal Justice: Behind Closed Doors.”

“The versatile structure of the format, featuring numerous episodes, seasons, interwoven storylines, and complex characters, allows actors to deeply explore their roles. Actors, be they veterans or newcomers, previously constrained by conventional production guidelines, are now gaining widespread recognition.”

Major OTT platforms have come to understand the importance of female writers and have taken action to build extensive databases featuring women professionals in roles such as cinematographers, production designers, and editors. This initiative promotes change within the industry. According to the report, having women on technical teams is now standard practice, which represents a substantial stride towards rectifying existing disparities. Notably, over 20 web originals have been helmed by women directors in India annually since 2020; however, the number has not continued to increase.

The number of women appearing on screens has significantly grown – from just two in the year 2017 to an impressive 47 by the year 2023. This trend is generating a constructive cycle of influence. Notable women-led shows are “Delhi Crime,” “Maharani,” and “Daahad.”

Despite listing numerous advantages, the report also highlights several challenges. Among these are an excessive amount of production in urban centers, outdated infrastructure, and a limited pool of skilled technicians.

The report suggests that industry players and government entities at all levels should work together to create policies that encourage the construction of advanced manufacturing plants across the nation.

A significant amount of work is required to tackle the essential problem of inadequate technical training at the grassroots level. At present, most creative professionals gain their abilities through practical experience, mainly because there are few academic institutions providing complete courses in content production. To unleash the industry’s full potential, we need to draw a larger pool of talent for studying cinema and storytelling. This requires cooperation from all parties involved, including businesses, governments, and educational establishments. The answer lies in establishing structured training programs that foster creative talent at the grassroots level while also enhancing the skills of current professionals.

The article concludes by issuing a caution against piracy and emphasizing the potential economic gains from addressing this issue. These benefits are projected to increase significantly, from an estimated $1.5 billion in 2023 to $3.3 billion in 2028.

In simpler terms, enforcing strong anti-piracy measures can bring about numerous benefits. It attracts more legitimate customers, broadening the market for advertisers to reach. This revenue increase allows media owners to invest in creating better content and producing more projects. Consequently, this leads to job creation and greater tax revenues for the government.

2024-07-24 05:17

India’s $6 Billion Streaming Sector Is Having Transformative Impact on Film, TV, Talent and Gender, Says Study (EXCLUSIVE)

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