The new decade marks the reinvention of visual entertainment with the OTT space that is constantly changing, evolving and growing at a fantastic pace. As per the MICA report, overall, India stood second highest with 8.43 hours of video consumption per week, captivating audiences at every touchpoint.OTT platforms/streaming services have seen phenomenal growth all over the world and especially in India. According to reports, the video streaming service market size could balloon up to Rs 4,000 crore by the end of 2025. The Indian Media and Entertainment (M&E) sector is expected to grow by 25% in 2021 and is expected to reach INR 1.73 trillion (US$23.7 billion), states the FICCI-EY report.
India is currently the world’s fastest-growing OTT market, set to become the sixth-largest globally by 2024. The next decade in this space will belong to those with the best original content and the most advanced technology, analytics, and user-friendly features. Ultimately, the streaming wars will empower viewers and revolutionize how they consume content.
Since 1997 at every stage, Promax has honoured creativity, innovation and storytelling in the media and entertainment industry. Promax India has announced the second Digital Reinvent show – ‘OTT and Digital Marketing Innovation Conference and Awards’ for 2021. The event will be held virtually on 8 October. The speakers for the event will include leaders, content and business heads from MX Player, SonyLIV, Discovery+, VOOT, YouTube, Amazon Prime Video, Netflix, Disney+ Hotstar, hoichoi, Eros Now etc.
“The need to stay connected with the community is more important now than ever. Given the overwhelming response and support we get from the industry, both in terms of speakers, industry involvement and sponsors who have been supporting us in difficult times, we are confident that our shows add immense value and learnings to our audiences. Promax Awards have been recognized the world over and more so at this time when people are working virtually. In very challenging work environments, it is even more important to reward great content at a time of the creative explosion,” said Rajika Mittra, Country Head & Strategic Partnerships, Promax Asia.
Rajiv Bakshi, Chief Operations Officer, revenue, Zee Entertainment Enterprise Ltd, is the conference chair for Digital Reinvent 2021.
Speaking about Digital Reinvent 2021, Bakshi said, “The OTT segment in India is witnessing phenomenal growth. There are a lot of dynamics and value propositions of the OTT segment, which are fast developing and changing. Our vision was to create a neutral platform where everyone from all the segments of the OTT platform can be a part of and talk about their experience, strategies, and brand success stories. We have included award categories for the OTT segment this year. It is imperative to have a neutral platform that recognizes merits and appreciates creativity and innovation. Promax is a credible platform to partner with for the vision mentioned above, and we seek maximum participation from the delegates.”
What can we expect from the 2021 edition of Promax Digital Reinvent?
The theme this year is Innovate -Connect-Celebrate!
“The industry is progressing at a fast pace. Now is the time to bring the OTT platform leaders, digital media professionals, content creators, digital-connected brands, dynamic broadcasters, independent strategies and digital influencers under one roof. There has never been a better time to connect and build the community. OTT Digital Marketing and Innovation Awards in association with Promax India bring with them experience, integrity and rewards outstanding achievement in the field of talent, content, entertainment and marketing,” said Mittra.
Speaking on the speaker lineup, Mittra said, “We are fortunate to have the valuable support of sponsors and partners that have helped us in our journey with successful collaborations and partnerships. Content will always be King, and great content continues to be in massive demand, and with OTT and on-demand service, there is no better time than now to be celebrating the best of content. The show highlights 7 Sessions with nearly 25 speakers.”
The schedule and content are packed with creative ideas, trends and skillsets required to maximize the effectiveness of business strategies and monetization. The sessions are diverse and topical. The virtual event will showcase influential leaders sharing their journey of best practices in innovation and future trends while the battle is on amongst the service providers to capture maximum subscriber wallet share and viewing time.
“Programming & Content acquisition heads from various OTT networks talk about their content acquisition & programme commissioning strategy how viewers are engaging with different genres of content and predicting the next big hit! One of the biggest trends shaping advertising right now is the rapid rise of streaming video viewership. Brands with advanced digital strategies are adopting OTT advertising as part of their performance mix because the future of TV is becoming more digital and data-driven. OTT is proving to be a game-changer for delivering compelling stories and performances, and many more! The sessions have been carefully curated given their relevance at every touchpoint,” she added.
Speaking on the award categories, she said, “We are happy to have a fantastic mix of 100 + jurors from all over – India and global to help judge the awards. The OTT & Digital Marketing Innovation Awards, in association with Promax India, is a benchmark for quality digital entertainment in India. These Awards celebrate and honour outstanding achievements in talent, content, promotion and marketing. Our 36 categories in Gold and Silver reflect the breadth of disciplines across OTT and the digital platform. We pride ourselves in leading the stature of the Awards globally and one-of-its-kind, and celebrate its achievements and excellence.”