Siddharth Roy Kapur and Ted Sarandos discuss the future of entertainment

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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Siddharth Roy Kapur and Ted Sarandos discuss the future of entertainment

– By Lionel Alva

Netflix and chill, has become more than a pop-culture phenomenon today; it has personified change and become akin to a cultural zeitgeist that is heralding a revolution in the entertainment sector. Until a decade ago, access to quality content of your choice was limited and cinema halls were the most sought-after bastions for entertainment.

In that sense, the OTT wars have spurred portals into whole new dimensions of exciting content possibilities. This steady confluence of technology and end-user engagement is leading to an apotheosis of content driven entertainment.

In the Indian context, the democratization of technology, the rapid influx of low cost-smartphones and affordable data plans has led to a sporadic increase in content consumption by leaps and bounds. The Indian OTT segment consists of recognized international players such as Amazon Prime, Netflix, and also myriad local ones.  So, what does the market for OTT platforms look like in the Indian context?

  • There are now around 40 OTT platforms operating in India, with Disney Hotstar, Amazon Prime Video, Netflix, and a few regional providers being the most prominent.
  • Despite having only around 5% of the country’s OTT customers, Netflix dominates the Indian market in terms of subscriber income, according to Media Partners Asia, an advice, consultancy, and research services organisation. In India’s subscription video on demand (SVOD) market, Netflix had a 36 percent market share.
  • However, Disney+ Hotstar, which has a lower subscription price than Netflix, has the largest number of subscribers, accounting for 50 percent of the market, followed by Amazon Prime with 19 percent and Netflix with 5 percent.
  • And, given the high fixed costs, fierce competition, and minimal switching costs, the sector is likely to consolidate soon.

So, how is the flow and ebb of entertainment set to change in the Indian context?

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The two-day conference will delve into how the old world is meeting the new. At the summit, Ted Sarandos, Co-CEO and Chief Content Officer, Netflix  shall engage in a  conversation with Siddharth Roy Kapur, Founder & MD, Roy Kapur Films, to explore how entertainment as a whole is not only undergoing a thematic shift but its very approach, medium of delivery and engagement are set to become far more vast and nuanced.

But, the key question is whether the new world will consume the old or will the two co-exist? Will the silver screen become a relic of the past as consumer paradigms remain forever changed.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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