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Online Video Market to Reach $5 Billion in India by 2023

Online Video Market to Reach $5 Billion in India by 2023

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  21 Nov 2018 6:30 AM GMT

Mumbai: The market for over-the-top (OTT) content, which is video content that is delivered over the Internet as an alternative to traditional media, will reach $5 billion in India by 2023, from $5 billion in 2018, according to a new report on Tuesday. This growth is being driven by rising affluence, increase in penetration of data into rural markets and adoption across demographic segments including women and older generations, according to the report by global management consulting firm Boston Consulting Group (BCG). “Majority of India has a single TV per household. Affordable data has created an alternate medium where consumers, for the first time, can tap into content based on individual preference at a time and space convenient for them,” said Kanchan Samtani, Partner and Director, The Boston Consulting Group. (IANS)

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