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India going to be fastest growing Media-Entertainment market till 2021

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India, Entertainment, Media, Smartphones, Mobile phones, Hotstar, Voot, SonyLIV, Netflix, Amazon Prime, Eros Now, ALTBalaji, Start-ups, Arre, YuppTV, Education news, Jobs news, Career news

New Delhi: India is expected to be among the top-10 entertainment and media markets globally by 2021 in terms of absolute numbers, according to a joint study by ASSOCHAM-PwC.

The country’s per capita media and entertainment spending is likely to be capped at USD 32 or Rs 2,080 by 2021, the study noted.

By some estimates, India is among the fastest growing OTT markets in the world and will be one of the top-10 by 2022, it said.

The market size is expected to reach USD 52.68 billion in 2022 from USD 30.36 billion in 2017, it claimed.

“It (India) is set to be in the top 10 entertainment and media markets globally by 2021 in terms of absolute numbers,” the study said.

It attributed growth of OTT content to increasing penetration of smartphones in the country and continuous rise in data consumption.

The OTT market (transactional video on demand and subscription video on demand) is set to grow at a compounded annual growth rate (CAGR) of 10.1 per cent during the period 2017-2022.

 

India is expected to be among top-10 Media-Entertainment markets by 2021:

 

“During the same period in India, the segment is expected to grow from USD 297 million to USD 823 million in 2022 at a CAGR of 22.6 per cent. With increasing smartphone penetration and lower data tariffs, VoD is showing promising growth,” the report said.

Globally, the industry has recently witnessed a shift in focus from content and distribution to user experience.

“India’s per capita media and entertainment spend will be capped at USD 32 (about Rs 2,080 ) by 2021. The spend is much lower than that of China, which will stand at USD 222 (Rs 14,430 ) for the same period, and that of the USA, which will have the highest spend at USD 2,260 USD (Rs 1.46 lakh),” the study said.

The large number of choices in the video-on-demand segment has spoilt consumers in India, the study noted.

“Hotstar has had a first-mover advantage in the OTT space in India. Other top players in the OTT ecosystem include Voot, SonyLIV, Netflix, Amazon Prime, Eros Now and ALTBalaji. Start-ups such as Arre and YuppTV are an additional presence,” it added.

In India OTT players, including Hotstar, Amazon Prime and Eros Now, are not only competing among themselves but also also with DTH players and other means.

“With increasing traffic in metro cities, the time spent on viewing videos is also on the rise. Cab aggregators, such as Ola, have installed tablets inside their cabs with a wide range of curated content for passengers at no additional cost,” the report said.

 

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Tesla bags 200,000 orders for its futuristic ”Cybertruck”

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New Delhi: Elon Musk is back with a bang with his all-new “Cybertruck”. Irrespective of the controversies the all-new Tesla Cybertruck has gathered, it is one of the most radical wheels that has gone on sale in recent times and is becoming quite popular by the day.

Elon Musk took to Twitter to share that Tesla has already received 200k orders since the launch of the “Cybertruck” which was actually 3 days ago(22 November).

Tesla Cybertruck’s production is expected to begin in late 2020. The electric pickup truck is available in three trims — single motor RWD with a range of over 250 miles, dual-motor AWD with a range of more than 300 miles and tri-motor AWD with a range in the north of 500 miles.

The single motor RWD variant of the Cybertruck can go from 0 to 60 mph in below 6.5 seconds and has a towing capacity of over 7,500 pounds, while the dual-motor AWD trim can make 0-60 mph in under 4.5 seconds and boasts of a towing capacity of more than 10,000 pounds. Tesla claims that the tri-motor AWD variant of the vehicle is good for 0-60 mph in less than 2.9 seconds and gets a towing capacity of 14,000 pounds.

Given its relative performance and price, the Cybertruck could be a massive success for Tesla as it enters into the largest segment in the US market. Almost three million pickups were sold to consumers in 2018. If Tesla can carve off a tiny sliver of that, it’ll go a long way toward taking Tesla’s annual sales to the next level.

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