New Study by Eros Now in conjunction with KPMG
in India highlights Indians love for films
Eros Now, a premier Indian OTT entertainment platform with more
than 155 million registered users, and KPMG in India, a
multinational professional services network, today showcased an
in-depth report on India’s OTT market at FICCI FAST TRACK INDIA
2019 in Mumbai. The study projects that India will have more than
500 million online video subscribers by FY 2023 making it the
second biggest market in the world after China. As per the study,
87% of users in India consume their content on mobile phones and
spend an average time of about 70 minutes per day on OTT
platforms.
The varied and innovative offerings blended with superlative
services will let OTT platforms cater to the growing market. Eros
Now, which is known for its extensive movie library apart from
offering originals, digital movie premieres and short-format
content ‘Quickie’, has been a leading OTT platform satiating
increasing consumer demands across device forms like Smart TVs,
tabs and so on.
The KPMG and Eros Now study highlights
several interesting aspects of the Indian OTT
market:
Love for films: Indians continue to love their movies and
movie related content; 30% of the respondents prefer watching
movies on OTT platforms.
Original content as a differentiator - Original and
exclusive Indian content is one of the biggest drivers in the OTT
space. Quality Indian narratives are traveling beyond the South
Asian audiences around the world. The massive base of digital
content consumers prefers new stories that this country must
tell.
Online video transcending geographies - Distribution
ecosystem is set to become stronger. Role of value chain partners
like OEM, DTH, ISPs and Telcos is likely to grow as creators look
at multiple avenues to reach the end consumer.
Innovations in pricing to boost subscriptions - New user
profiles indicate that companies have to focus on smaller towns and
rural markets as a sustainable business model would need to be
anchored by small town viewers and eventually subscribers.
Fostering multi-format consumption and engagement –
Short-format video content, movie premieres, documentaries,
original music and other formats enable OTT players to engage
diverse sets of online video consumers. Today, audiences look
forward to enjoying varied content formats on digital
platforms.
In order to cater to consumer demands, Eros Now plans to invest
to create new original shows for their platform. It has also
introduced ‘TV Se Pehle’, wherein movies premiere on the platform
prior to their satellite broadcast and started to offer original
short-format content. Soon, Eros Now plans to launch over 50 short
form original series under its ‘Eros Now Quickies' category. The
premium Indian OTT player’s several strategic brand associations
has enabled the app to be available in smaller towns of the country
and in over 135 countries across the globe.
Commenting on the key trends and insights Rishika Lulla
Singh, Chief Executive Officer, Eros Digital, said, “India is
one of the fastest growing entertainment and media market globally
and is expected to keep that momentum. As data and digital
infrastructure has become exceedingly accessible even in small
cities of India, the market for OTT has widened enormously. At Eros
Now, we strive to constantly engage the existing consumers and
expand our reach by offering new and innovative services.”
Girish Menon, Partner & Head Media & Entertainment,
KPMG in India, said, “The online video consumer in India has
evolved in a significant way in the last couple of years. With
consumption now going mass and viewers spending close to 8.5 hours
a week on online video, we see a homogenous pattern of consumption
emerging cutting across age groups, income levels and professions.
Our report also touches upon the future of this consumption
evolution, and how online video could potentially disrupt
traditional distribution in the coming years. This represents a
large opportunity for platforms to tap into the ever-expanding
universe of digitally connected Indians”
The increasing internet penetration and access to digital
infrastructure across India make it an important market for the OTT
industry. The KPMG report is a testament that content innovation,
services across device forms and partnerships has established Eros
Now as a key player and will further strengthen its position in the
growing market.
About Eros International
Plc
Eros International Plc (NYSE: EROS) a Global Indian
Entertainment company that acquires, co-produces and distributes
Indian films across all available formats such as cinema,
television and digital new media. Eros International Plc became the
first Indian media company to list on the New York Stock Exchange.
Eros International has experience of over three decades in
establishing a global platform for Indian cinema. The Company has
an extensive and growing movie library comprising of over 3,000
films, which include Hindi, Tamil, and other regional language
films for home entertainment distribution. The Company also owns
the rapidly growing OTT platform Eros Now. For further information,
please visit: www.erosplc.com.
About Eros Now
Eros Now is Eros International Plc’s On-Demand South Asian
Entertainment Video Service accessible worldwide to viewers across
internet enabled devices including mobile, web and TV. With 12,000
plus Movie titles, Music Videos, Television Programming and others
Eros Now caters to more than 154.7 million registered users and
18.8 million paying subscribers worldwide with the promise of
endless entertainment Product features, such as video in HD,
multi-language subtitles, movie downloads, and high-quality
original drama series differentiate the Eros Now entertainment
offering. To see, watch now: www.erosnow.com
About KPMG in India
KPMG in India, a professional services firm, is the Indian
member firm affiliated with KPMG International and was established
in September 1993. Our professionals leverage the global network of
firms, providing detailed knowledge of local laws, regulations,
markets and competition. KPMG has offices across India in
Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad,
Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune and Vadodara. KPMG in
India offers services to national and international clients in
India across sectors. We strive to provide rapid,
performance-based, industry-focused and technology-enabled
services, which reflect a shared knowledge of global and local
industries and our experience of the Indian business
environment.
www.kpmg.com/in
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version on businesswire.com: https://www.businesswire.com/news/home/20190906005445/en/
Mark Carbeck Chief Corporate and Strategy Officer Eros
International Plc +44 207 258 9909 mark.carbeck@erosintl.com
Media: Erica Bartsch Sloane & Company +1 212 446 1875
ebartsch@sloanepr.com
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