As per the report, 49% of India’s youth spend 2-3 hours a day binge watching content
65% of millennials and Gen Z prefer consuming video content on an over-the-top (OTT) platform over TV, according to a report unveiled by The Data Sciences Division of Dentsu Aegis Network (DAN) India. Titled ‘Now Streaming: The Indian Youth OTT Story’, the report reveals deep findings of OTT content and gaming habits of the Gen Z and Millennial audiences from Urban India. While a large chunk of India is a single TV household, affordable data and advancements in mobile technology has been a huge boost to the country’s growing online content and gaming consumer base, Gautam Mehra, CEO, DAN Programmatic and chief data officer, DAN – South Asia, said. “The report reveals trends of platforms of choice as well as a growing subscriber base and supports our investments into our recently launched OTT Planner – DMC Video+ as well as the world’s first gaming DSP – Dentsu Play to support advertisers navigate their investments in this ecosystem,” he added.
As per the report, India’s on demand digital streaming industry surpassed the national film industry in terms of both viewership and growth. With entertainment gone online coupled with a surge in online gamers, the pandemic has proven to be a fillip to the sector with consumers confined to their homes. With the Indian OTT base being pegged to triple this year, the OTT sector presents a huge opportunity for investment into video content and mobile gaming services. “We can hypothesise that Amazon Prime and Netflix are unquestionably the platforms of preference among the youth with 60% of our sample having subscriptions to either or both of those platforms. The “big two” OTT platforms are closely followed by national based platforms such as (Hotstar, Zee5, etc.) which are gradually gaining popularity,” the report stated.
The report also highlighted that nearly 49% of India’s youth spend 2-3 hours a day binge watching content while four hours is the average time spent in consuming OTT video content in a day by millennials and Gen Z. On an average, the report reveals, people subscribed to three new streaming platforms during lockdown. “While the number of new OTT subscriptions purchased during the lockdown period spiked throughout the country across demographics, our research revealed that millennials and GenZ’s purchased 2 and 3 additional OTT platform subscriptions respectively since the start of the lockdown,” the report reveals.
With online video and gaming seeing the maximum growth of time spent during the lockdown, there is a need for an industry level research report to give a direction towards which this segment of the economy is moving, Abhinay Bhasin, vice president (South Asia) – Data Sciences and Head of DMC Insights, Dentsu Aegis Network. “Gen Z and millennials will form a cornerstone of new age marketing given their growing spending power coupled by their ability to influence older generations. This report is but the first step from DMC Insights to deliver industry level insights on this audience covering their impact on various aspects of consumption and growth,” he added.