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The OTT market in India is currently battling the dilemma between growth and profitability in a price-sensitive market. 2023 was a year of disruption for cricket content, as Jio Cinema used it to build a large customer base for itself. But expect some serious changes in the OTT landscape in 2024 as platforms now look to chase profitability.
In 2023, Indian content was watched in over 210 countries and territories worldwide on Prime Video. Indian programming trended in the top ten on Prime Video worldwide for 43 out of the 52 weeks of 2023.
Mike Hopkins, head of Prime Video and Amazon MGM Studios told a packed audience that the diversity of content in terms of movies and series and the abundant talent on display were just breathtaking.
Hopkins mentioned that the streaming platform makes local programming in many countries around the world, but the core tenet for them is that if it doesn’t work in the country they are making it, they shouldn’t be making it.
Hopkins stated that one should start with how we can tell authentic stories with creators in the country that resonate with customers in India.
According to Hopkins, “We definitely have a unique business model here at Amazon. But for our entertainment business, it really does start with Prime. And when you think of Prime, you think of shopping and shipping. Think of music and gaming. We have a reading service and a variety of benefits with that Prime membership, but of course we have Prime Video as well.”
“Customers can find their favourite movies and series all under one roof with Prime Video, whether you’re getting entertainment from Amazon, MGM Studios, our local partnerships, or things we’ve licensed around the world. We really start with Prime as our base,” he added.
Over the last few years as content has been moving to streaming, people aren’t always sure exactly where to go to get a specific movie, TV series, or even sport, depending on where they are in the world.
Hopkins mentioned that they have spent a lot of time thinking about how the streaming platform can put all of that together in one place for customers. “It’s not easy. We haven’t succeeded everywhere in the world yet in putting all of their streaming content into one application or making a lot of progress,” he added.
“We’ve also built the world’s largest TVOD store, so more people rent and buy movies on Prime Video than any other store in the world. And then, if you’re not a subscriber or if you don’t want to subscribe to something, We also offer an array of AVOD content where you can watch TV and films without a subscription. We do that for the brand Free V around the world, and here in India, we have Mini TV, which is available on Prime Video and on our retail site,” Hopkins stated.
Speaking of Mini TV, Hopkins said that the business is doing really well, where we’ve grown four times in overall watch time since 2023.
Hopkins mentioned that the platform tries to understand the customers’ problems before expanding into a new market or with new products. He said, “We have started to do that with entertainment. As we look at the next 250 million subscribers that we’re going to acquire, they are definitely going to come from outside of the United States. And we’re not going to be able to achieve that unless we do a really good job for customers in India as well.”
India is a key geographic area for the streaming platform, Hopkins highlighted. “We also believe in the story of India and the growth that’s been happening here over the last several years.”
Streaming wasn’t a widely adopted entertainment option just seven years ago. A precipitous drop in data prices and affordable mobile handsets gave wings to the streaming business. To Hopkins, India is a crucial market — a market whose success can shape the company’s trajectory.
“The streaming platform has been making a lot of progress in India. In the last several years outside of the US, more people have signed up for Prime in India than anywhere else in the world,” Hopkins highlighted.
Amazon has 200 million Prime subscribers worldwide (240 countries). “More people have signed up for Prime in India than anywhere else in the world,” Hopkins stated.
Not only is India important to Amazon’s streaming business in adding users, the content coming from India has global takers. “In any given week in 2023, Indian content was watched in over 210 countries and territories worldwide on Prime Video. Indian programming trended in the top 10 on Prime Video worldwide for 43 out of the 52 weeks of 2023,” he revealed.
“At Amazon, we’ve used this phrase; it’s always ‘day one’ in streaming in India and around the world. But India is also a content hub. People have been making great television and films in India, long before a streaming service launched.”
Amazon Prime also has an innovation hub in Bangalore. Hopkins mentioned the importance of programming. “All the innovations, they’re planning for our servers and our product because the programming is super important. And no one’s going to open up an application just for the product and the tech that’s behind it. But it sure makes it a lot better when the service is easy to use and responsive. And so teams are working hard on that,” he added.
“In India, more people sign up for Prime Video here than for any other benefit. So, more people in the world are signing up for Prime in India outside of the US. And Prime Video is the number one reason they sign up in India. In the last year, India had the highest percentage of Prime members who streamed Prime Video than any other country in the world,” he added.
Apple is reportedly planning to introduce a cheaper ad-supported tier for Apple TV+. Recent hires, including ad executive Joseph Cady, indicate this move. Apple’s advertising team has been expanded, and the platform already features advertising in sports content. This follows Netflix’s pricing strategy with ad-supported plans.
According to the latest Ficci-EY media and entertainment report, footfalls in theatres (single screens and multiplexes) have fallen by 9% to 900 million in 2023 from 994 million in 2022. But, gross box-office collections (before tax) of single screens and multiplexes expanded 15.3% and 13.7%, respectively.
The Union government banned 18 OTT platforms, 19 websites, 10 apps (7 on Google Play Store, 3 on Apple App Store), and 57 associated social media accounts for disseminating obscene and vulgar content. Union Minister for Information & Broadcasting, Shri Anurag Singh Thakur, stressed the responsibility of platforms to avoid promoting obscenity. The decision, made under the Information Technology Act, 2000, involved consultation with relevant government departments and domain experts.
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