The online video market is growing at a great pace and data also shows the same. The industry is in the second phase of growth with revenue of $3 billion this year. The revenue is going to be more than double the present one. As per the reports by Media Partners Asia, the revenue of the video streaming market in India is going to be around $7 billion by 2027. With the rapid growth of the streaming industry, there is continuous growth seen in the competition in the industry. The intensity of the competition is increasing with the development of the local streaming players and the giants of the industry.
According to the report by Asia Pacific Online Video & Broadband Distribution 2022, the total growth of the online streaming industry is expected to grow by 16% year-on-year in 2022 to go up to US$49.2 billion.
Different monetization models will contribute differently to the growth of the streaming industry. Talking separately, SVoD will contribute 50% of the growth while the other 50% will be contributed by AVoD (including UGC AVoD 37% and Premium AVoD 13%). The industry is expected to grow at an 8% CAGR and will reach around US$72.7 billion in 2027. All this development will happen while having the SVoD:AVoD ratio stable. The top 20 online video players will account for around 67% of the total APAC revenue in 2022. In India, regional players are gearing up the competition and trying to capture a good market share. With time, it will be interesting to see the growth of the industry and the local player.
Ultra Media and Entertainment to launch its Marathi OTT Platform “Ultra Jhakaas”
One of the leading Marathi Entertainment content providers, Ultra Media and Entertainment is ready with its latest Marathi OTT platform. The platform tries to deliver unmatched content and streaming experience to its viewers. Packed with a vast library of shows, movies, web series, and other premium content, the platform delivers 100% Marathi content for everyone in the family. Moreover, the platform is a one-stop destination for authentic content with more than 2000+ hours of exclusive Marathi content.
What Ultra Jhakaas Has For Viewers?
Ultra Jhakaas is designed to meet the needs of modern-day audiences who crave the flexibility of watching their favorite shows at their convenience, anytime, anywhere, and over any device. With its intuitive and hassle-free interface, the platform enables viewers to explore and enjoy its extensive streaming content library.
The Chief Executive of Ultra Media, Sushil Kumar Agrawal said “with the platform we are not only expanding our reach but also providing our viewers with a unique and immersive viewing experience”.
The OTT platform boasts a vast array of content spanning a variety of genres, such as action, comedy, and romance, among others. The platform further sets itself apart with its programming, which is created solely for its audience. With availability on all leading devices, Ultra Jhakaas provides its viewers with seamless access to their favorite shows and movies.
Content Access And Subscription Plans Of Ultra Jhakaas OTT Platform
To make the platform accessible to a wide range of viewers, Ultra Jhakaas offers a subscription plan for less than one rupee per day. There is a heavily discounted launch offer of Rs. 299/- per year. The platform also offers an affordable quarterly subscription plan of Rs 149/-. Moreover, it has also given access to streaming content for non-subscribers for free.
With a single login, users can create up to five accounts. The platform offers a variety of features that cater to the personalized viewing experience of users. Some of the features include having a watch list, download list, and continue watching list. The platform also provides content recommendations to each user. In addition, users can download their favorite content to view offline without an internet connection.
The Ultra Jhakaas OTT platform is conveniently available for download on both the Play Store and the App Store. By subscribing, viewers can unlock a diverse range of content from our vast library, providing them with access to a wide range of entertainment options.
Globant, an IT and software development company to build out the Fifa+ DTC platform
Globant, an IT and software development company, has been signed up by Fifa to build its Fifa+ direct-to-consumer (DTC) platform. The agreement sees Globant as a ‘global platform supporter’ of Fifa+ leveraging modern technology to enhance the user experience on the digital platform. Globant will be creating new features, and connected experiences for the end users and will support the distribution of the platform. The primary focus of Fifa+ was video while providing a wide range of live matches, original content, and unseen footage to fans around the globe.
Globant is headquartered in Buenos Aires, Argentina. Apart from Argentina, the company is operated in the United Kingdom, the United States, Canada, Mexico, France, Germany, Brazil, and India to name a few. The firm has revenue of approximately US$1.3 billion, a strength of 25,000 employees, and a list of clients including Disney, Google, and other renowned names. Apart from the partnership with Fifa+, the company has also entered into a joint venture with LaLiga of Spain that will strive to develop and commercialize modern technologies for the sports industry.
Fifa has bigger plans for the platform, Fifa+ and it wants the platform can reach its next level. . The core purpose of the body is to make the platform a multi-faceted hub for the fans out there, providing features including non-fungible tokens (NFTs) and games. Chief Business Officer at Fifa, Romy Gai said that Fifa+ has quickly established itself as a go-to platform for fans.
With this partnership, the company will become the regional supporter of this year’s FIFA World Cup in North America and Europe and a sponsor of the Fifa Women’s World Cup going to be held in Australia and New Zealand in the coming year i.e. 2023. In addition to this, Globant will also sponsor FIFAe Series and several other tournaments in 2023, 2024, and 2025.
Tata Play Binge, an OTT aggregation platform, opens itself to smartphone users
Tata Play has moved forward and has extended the subscription of its Tata Play Binge, an OTT aggregation platform to all smartphone users. Earlier the platform was available and accessible to its DTH subscriber base. The platform was launched in April this year to organize and systemize the content available on different platforms. Initially, it started with the accessibility of the platform to its subscriber base but now, Tata Play Binge has announced the expansion of the platform.
Tata Play has described the platform as an aggregator of content across the available OTT platforms in India. The content will be presented under one roof, making it a one-stop platform for all those who are binge watchers. The platform is offering its subscribers a bundle of 28,000 movies and web shows at first. Apart from the shows, the platform also carries LIVE Sports from 16+ streaming apps with the availability of games under one platform.
Harit Nagpal, MD & CEO of Tata Play explained “Approximately 70 plus OTT services cater to 450 million consumers with just 90 million paid subscribers. The penetration at a subscriber level drops further as each consumer needs to subscribe to multiple OTT services.” He added that with the aggregated OTT platform, they are trying to address the pain points. He said that the content is available to all subscribers from across 16+ OTT providers plus Gaming at ₹59 a month. With this, the platform is making entertainment easily accessible to consumers.
The Freemium Tata Play Binge Model
Tata Play Binge has brought a freemium model; which can be installed by anyone. Anyone can search and watch the content across all OTT apps aggregated by the platforms. Viewers can also watch the paid content by subscribing to the platform starting at ₹59 per month. A single platform subscription will bring viewing accessibility to 2+ devices. Additionally, the platform has tried to create personalized by providing options like ‘Create Your Own Binge List’, ‘Language Preference’, and so on are some of the noticeable features of the platform.
It is a step to ease the content discovery process and reduce the hassle of taking multiple platform subscriptions. Tata Play Binge is a visionary platform that will be introducing a plan of ₹59 per month, with various other tiers introduced when the users start subscribing to more and more OTT platforms.