As a seasoned movie reviewer with roots deeply entrenched in the bustling streets of Mumbai, I have witnessed firsthand the metamorphosis of India’s entertainment landscape over the past few years. The latest Ormax OTT Audience Report: 2024 has shed some fascinating insights into this ever-evolving industry.
New findings from Ormax Media’s streaming audience study indicate a substantial surge in the Indian streaming market primarily fueled by an increase in ad-viewed content.
2024’s Ormax OTT Audience Report reveals fascinating insights on our nation’s ever-changing digital content consumption habits. As one captivated by the realm of streaming, I was particularly interested to learn that a whopping 547 million users are currently engaged in this medium, reflecting an impressive 38% penetration (up from 34% last year). This enlightening study surveyed no less than 12,000 respondents hailing from both urban and rural areas of our wonderful India.
As someone who has been closely following the trends in digital entertainment for years, I find it fascinating to witness the significant growth in the ad-supported video-on-demand (AVOD) segment. In my personal experience, I have noticed a shift in consumer preferences towards this type of streaming service due to its accessibility and affordability, especially during these times when many people are looking for ways to save money. The 21% rise in the AVOD segment from 2023’s figure is a clear indication of this trend, as reported by industry analysts. In contrast, the subscription video-on-demand (SVOD) segment, which I have been subscribed to for several years, saw a 2% numerical decline. This could be attributed to the increasing cost of these services and the growing demand for free or lower-cost options among consumers. It will be interesting to see how these trends continue to evolve in the coming years as technology advances and consumer preferences change.
As a movie critic, I’ve been tracking the streaming scene in India and here’s an update: The number of active paid streaming subscriptions remains steady at approximately 99.6 million. Interestingly, though, it appears that the average viewer is now subscribing to fewer platforms, with the number dropping from 2.8 to 2.5 per user in 2024. This suggests a potential shift towards more selective viewing habits among Indian audiences.
As a tech enthusiast, I can’t help but notice the undeniable reign of smartphones in our content consumption landscape, particularly in India where an astounding 97% of viewers opt for them, with a whopping 81% strictly sticking to mobile viewing. On the other hand, connected TV audiences are estimated at approximately 69.7 million.
Keerat Grewal, who heads business development at Ormax Media, stated that since the pandemic, the rate of expansion within the OTT (Over-the-top) universe has consistently remained around 13%. However, this year’s report emphasizes the crucial impact of the Advertising Video on Demand (AVOD) segment in expanding this universe. The growth is primarily attributed to AVOD viewers, as most of the recent entrants into this category are mainly consuming video content exclusively through YouTube and social media platforms.
The findings of the report seem to support the observations made by Ormax chief Shailesh Kapoor in his mid-year analysis of the intricate Indian streaming market, as reported to EbMaster. According to him, affordability is a significant challenge due to Indians’ unfamiliarity with paying for content. He noted that television has been low-cost in India for quite some time, and in streaming, there are two costs – data charges and subscription fees. This dual cost structure often confuses many Indians as they question why they should pay for content when so much is accessible for free on TV and YouTube.
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2024-08-21 12:17