“The media and entertainment sector is expected to be around Rs 4 lakh crore by 2025 and 80 lakh people are likely to get employed in the OTT sector during that period,” said Anurag Thakur, Union Minister for Information and Broadcasting and Youth Affairs and Sports on Friday while speaking at the Times Now Summit 2021.
He stressed further stressed on the explosive growth the OTT sector is witnessing. Despite being in its nascent stages of growth, India is the world’s 6th largest OTT market in the world.
“Investment is expected to be around 30,000 crores, of which 45 percent is expected to come through Foreign Direct Investment (FDI) in the next three years,” he added.
Speaking on the regulation of the OTT platforms at the event, Thakur said that “The OTT platforms are new and the growth of these entertainment mediums was exponential during the COVID-19 pandemic.”
“By 2025 OTT platforms will clock 7 crore subscribers. We introduced self-certification as we want content creation to be done in India because there are many talented youths in the country. Self-certification has been implemented so that the responsibility also lies with the concerned person,” Thakur added.