The music & entertainment Industry is buzzing with some latest developments by major OTT players that point towards a big change in the way the content will be consumed by the user online in the coming future. Here are a few updates that explains it better –
1. Launch of new VOD services
HOOQ – the big-bet of media giants Sony Pictures and Warner Bros. in video-on-demand (VOD) services is set to launch in India. They seem to capture the market by offering a bouquet of over 10,000+ Hollywood blockbusters, TV programs and local programs in a subscription of just Rs.199 per month.
2. The rise of mini video content players
Twitter’s live video streaming app – Periscope was launched on Android platform. Periscope caters the mini live streaming behaviour of the users who don’t want to stream lengthy content & save on their data bytes. India is definitely one of the top target markets for Periscope with a leading Android phone user base,
3. The BIG game by bigger players
YouTube Music Key announced an extension of their BETA version and seem to do a big bang launch of their online Music Streaming services around September in 2015. The product seems to change the music consumption behaviours with features like offline access, ad-free music and background play. They have initiated their campaign in India with a Social Media Contest #goingoffline.
4. The exponential increase in monthly active users on Video Streaming
Hungama.com, an Indian player in the music and video streaming services, seems to make it big on the global platform as they claim to have 50 million monthly active users of their services. With these statistics they are well placed amongst the top 5 global players like Pandora and Spotify. This exponential growth achieved by Hungama.com in the last years clearly defines the demand for online streaming in India.
5. Efforts to promote singers
Music Streaming player – Saavn has taken a step ahead in the online music streaming vertical with the launch of Live@Saavn that provides an amazing launching platform for musicians in India. This is a big step in terms of how live video content management will lead to development of Music Industry as a whole.
These Industry trends clearly point towards a paradigm shift in how the Digital users will consume video and music content in India. For the OTT players, it clearly showcases the importance of providing best user experience of online streaming through global standards like DDEX for Music Metadata Management and Digital Video Management.