The survey said that consumers increasingly prefer to watch TV shows on devices such as laptops, smartphones and desktop personal computers
It seems that India is finally moving away from television sets to online to watch their TV shows. The percentage of consumers in India who prefer to watch TV shows on TV has plummeted by 78% over the past year, according to an Accenture 2017 Digital Consumer Survey. The number of people who prefer to watch TV shows on television sets has declined to just 10% from 47% a year earlier.
This signals an increasing shift in the digital video market consumer behaviour. The survey further said that consumers increasingly prefer to watch TV shows on devices such as laptops, smartphones and desktop personal computers.
Around 42% would view the TV shows on laptops or desktops from 32% last year. While 13% said that they prefer to watch their TV shows on their smartphones from 10% last year. Besides this, the report said that smartphone has nearly doubled to 41% in 2017 from 23% in 2014 in preference for watching video clips.
A reason why content creators from TV broadcasters to VOD/OTT players and production houses have come out with their own digital media platform. Broadcasters include Hotstar, Ditto TV, Ozee, Voot and SonyLiv. Production houses such as Eros has its own platform ErosNow and even Balaji entered recently with Balaji Alt. Other VOD platforms include YuppTV, NextG TV, VuClip, Spuul, Hooq, among others.
And where viewers go, so will brands Eyes on the high ad revenues
Many video-on-demand (VOD) players in India including Netflix and Amazon Prime Video have started to invest in creating local digital content in India. Both Netflix and Amazon Prime Video have set aside Rs 2,000 crore each for acquiring content to attract customers, according to recent reports.
In the end, all these digital content players have their eyes on the big prize. Over-the-top (OTT) and digital advertising in India in 2016 accounts for Rs 8,100 crore and is expected to grow to a massive Rs 18,500 crore by 2020, says a recent EY report.
In addition is the revenue from subscription charges that these digital content players charge. While video OTT subscription in India is at Rs 170 crore in 2016, it is expected to grow to Rs 1,230 crore in 2020.
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