What are the evolving video trends in the Indian market and the factors fueling the growing video views?
Within the Indian market, much like the rest of the world, both internet penetration and affordability, and the digitisation of services is fueling the increasing growth of video viewership. Internet usage in India is projected to grow to over 1.5 billion users by 2040, and with mobile penetration in similar figures, the appetite for video consumption is apparent.
Nowadays, mobile phones are the primary access point for entertainment, education and utility.
The rise of television and entertainment content delivered via the internet has established video as a significant part of the experience. Many consumers are paying for educational video content online, researching products they intend to buy through video and reaching for video entertainment to pass their time.
Recent circumstances and changing consumer preferences have also contributed to the growth of video views. Fueled by the pandemic, consumers have shifted more phases of their shopping behaviours online, leading brands to leverage video extensively as a way to humanise the digital purchasing experience, and drive cart conversions. In the Indian market, this trend is particularly strong in the retail sector, where large brands such as NyKaa, Myntra and Tata Cliq are using live and on demand video to create online shopping destinations and experiences.
Even brands selling complex products like insurance, investment products or pharmaceuticals are now using the power of video to communicate sophisticated messages and uplift brand perception. As the internet becomes more private, we will see more brands seeking to build out their own destinations to attract and engage customers online, leveraging video to create personalised communications and buying journeys, backed by robust customer insights driven off viewing behaviours.
What videos are Indians watching and on which devices? What is the future of video in India and the big differences with respect to the global market?
According to the Brightcove Q1 2022 Global Video Index, global video views increased 38pc year over year, however in India there was a much more significant increase, with video views more than doubling (107pc) between October 2021 to March 2022.
News, sports and entertainment content featured prominently in what Indians like to watch, including the plethora of Indian originals across these categories. Across the media/entertainment category, view views in India were up 41pc and time watched increased by 60pc. Not surprisingly, India also saw robust growth in the sports category, increasing video views by 57pc.
During this period, there was also a significant growth for enterprise video – across corporate communications, marketing and sales, and retail – largely driven by the impact of remote work and broad-scale adoption of video across the enterprise. Whilst global video views across the enterprise increased 90pc, India saw a staggering 174pc increase in views across the six-month period, largely driven by the use of video across retail and marketing and sales (180pc and 82pc growth in video views respectively).
From a device perspective, mobile devices continue to dominate globally, and the Indian market is no different. Whilst the pandemic saw a slight return to larger screens, including increased growth in viewership on connected TV (CTV) across the world, mobile devices remain the preferred device for streaming video content amongst the Indian market.
Viewer content preferences will continue to change as video content evolves, however technological innovations in online streaming platforms have made video consumption mainstream, especially among younger tech-savvy Indian audiences. With the emergence of 5G and the ongoing consumer demand for quality content at convenience, the future of video in India is undoubtedly bright.
How much of these video views are driven by subscription and advertising?
The pandemic skyrocketed the usage of video-on-demand services, with India’s digital video audience reaching 353.2 million in 2022. The Indian VOD market is on an accelerated growth trajectory, and streaming service providers are experimenting with different models to meet the changing viewing habits of Indian consumers in recent times.
SVOD has gained popularity within the broadcasting landscape in India, fragmenting audiences away from traditional linear television. Increasing competition in content offerings and pricing models has resulted in consumers switching subscriptions to avail of the most in-demand content. Some consumers even subscribe to multiple providers to access their preferred premium content across multiple subscriptions.
With increasing amounts of time spent online, Indian consumers are open towards AVOD offerings, with many preferring to watch ad-supported content rather than pay for an ad-free experience. It is estimated that only 31pc of India’s digital video audience are paying subscribers, while the remaining 69pc are AVOD audiences. Thus, the majority of video views come from advertising-based video-on-demand services, which offer the possibility to have streaming service subscriptions at a lower price or free of charge, something that Indian consumers prefer. This is of course, highly dependent on ensuring that in return, they receive quality programming as the trade-off for watching advertisements.
