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Last Updated : Nov 14, 2019 08:42 PM IST | Source: Moneycontrol.com

Digital video consumption doubled in India over last two years: Report

The report further said that while traditional media is growing at a steady pace, digital media is driving overall growth at a 16 percent CAGR over the last two years.

It doesn’t come as a surprise that the average Indian's digital video consumption has more than doubled in the last two years.

According to Boston Consulting Group (BCG) and Confederation of Indian Industry (CII) report released on November 14, digital video consumption has increased from 11 minutes per day to 24 minutes per day in the last two years.

The increase in time spent has been driven by a 10 to 15 percent increase in the number of sessions and 15 to 25 percent increase in the average time per session.

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While delivering the theme address at the CII Big Picture Summit 2019, Sudhanshu Vats, Group CEO and MD, Viacom18 said, "India is one of the unique markets where nearly all forms of media consumption are growing. However, true disruption is being seen in digital video, which has grown at a staggering 46 percent CAGR over the past two years."

Strong investments in content consumption are also driving growth in the digital medium.

The report titled ‘Trillion (and growing) touchpoint story: Recognizing the monetization conundrum’ pointed out that around Rs 2000 crore plus has been spent across four leading OTT platforms in the last two years for content creation.

The report further said that while traditional media is growing at a steady pace, digital media is driving overall growth at a 16 percent CAGR over the last two years.

Internet penetration, along with growing affluence and smartphone penetration, is expected to rise in the future and this will further drive growth in digital media.

“India has the second largest base of smartphones in the world, setting up a massive platform for digital video consumption. India has witnessed a dramatic reduction in data cost in the past two-three years. This is leading to higher data usage. India has the highest per capita consumption of data at around 9.8 GB per month,” the report said.

(Disclaimer: TV18 Broadcast is a part of Network 18, which also publishes Moneycontrol)

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First Published on Nov 14, 2019 08:42 pm
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