Uday Sodhi News

content is taking centre stage on over-the-top (OTT) platforms in India as streamers look to ape the traditional TV model of offering diverse content slate that caters to different age groups and demographics, amid the summer vacation for schools and colleges. With a fan base of 180 million and growing, India is poised to become one of the most significant markets for anime content in the world after China even as the global popularity of anime, which has its roots in Japan, is on the rise. Anime market in India is projected to grow at a compounded annual growth rate (CAGR) of 13% from 2024 to 2030, driven by factors such as Japanese pop culture, global media exposure, and demand from millennials and Gen Zs, as per the US-based Grand View Research.

₹12,500 crore OTT content spending, according to the latest Ficci EY Media and Entertainment Report. Moreover, while 24% of total OTT costs were allocated to acquiring film rights, only a quarter was spent on original content. However, streaming platforms saw minimal growth in total content hours, holding steady at 3,000 hours compared to the 2022 levels.

Ecommerce giants Amazon and Flipkart's cumulative ad revenue rose 39% to Rs 8,705 crore in the fiscal year through March 2023, as advertisers across categories used the platforms amid growth in their user base, as per data filed by the companies with the Registrar of Companies (RoC). In FY23, Amazon Seller Services, the marketplace arm of Amazon, recorded 29% growth in ad revenue at Rs 5,380 crore, according to the RoC filings sourced from business intelligence platform Tofler. For Flipkart Internet, the marketplace arm of Flipkart, revenue from this segment rose 60% to Rs 3,325 crore.

NEW DELHI : JioCinema, owned by Reliance Industries, is adopting a measured approach to its web original strategy by focusing on mid-sized web shows, with estimated annual budget of about ₹1,000 crore, excluding sports. This budget is roughly half the size of leading competitors like Netflix as the platform’s current strategy on web originals is driven by volume primarily to sustain audience interest post-IPL.

Netflix's decision to clamp down on password sharing in India might help the streaming giant boost its subscriber base in the country, even though there is a high possibility that the platform could see a drop in shared access viewers in the short term, say media analysts. According to industry estimates, Netflix's paid base in India hovers between 8 million and 10 million. In a letter to shareholders, Netflix said it will start to address account sharing between households in almost all the remaining countries, including India.

With the aim of bringing to the fore, the multifarious non-crypto currency aspects of blockchain technology into mainstream finance, fintech company ASQI has raised $1 million in pre-series A funding.