With a rise in smartphone and internet penetration, digital video consumption in all forms of media in India has registered significant growth in the past couple of years.
According to the latest BCG-CII report, the average digital video consumption has increased almost 2X to 24mins/day from 11mins/day over the past two years.
Compared to last year, digital video witnessed about 15% rise in the number of sessions and close to 20-25% growth in average time per session.
The rise in digital video consumption has primarily been supported by the significant rise in smartphone and internet penetration in the same period, said the report titled ‘The trillion (and growing) touchpoint story recognising the monetisation conundrum’.
In the past 2-3 years, India has seen a significant reduction in data cost leading to higher usage. India has the highest per-capita consumption of data at 9.8 gigabytes per month, added the report.
Digital media has driven the overall growth with at a compound annual growth rate (CAGR) of 16% in the past two years.
In recent years digital videos, especially mobile advertising, have also attracted more visual attention than linear TV as they are creating new experiences for both their viewers and advertisers.
The rise in the number of OTT players in the country has also increased online video consumption. In the past five years, there has been a shift in India’s appetite for binge-watching digital videos as the total OTT players in the country has increased from 9 to over 30.
Currently, India’s online video market has around 300 million user-base. The growth has mainly been driven by original and exclusive content offered by multiple players.