Describing the 10th edition of the CII Big Picture Summit 2021s Valedictory Session named “The Big Pitch: Is the Industry ready, what’s next?” which was held on the virtual platform on 17th and 18th November ’21, Gaurav Gandhi, Country Head, Amazon Prime Video, India said, “India is the fastest-growing OTT market in the world.
It has the potential to be the largest as it builds scale, established a strong foundation.”
He explained the reasons why India has the potential to become the largest OTT market.
The first reason is, OTT segment in India has a huge base of consumers with an uncontrollable hunger for entertainment and disposable income to pursue the best experiences.
The second reason is a very rich pool of creators who have the power to create top-class entertainment experience and the third reason is the deep penetration of connectivity through affordable broadband available across multiple devices.
Answering a question about the contribution of OTT in boosting its growth, he also explained the role of Prime Video playing in contributing to a creative economy; he told that they are contributing by addressing some of the most important challenges that currently exist in increasing the growth of the M&E industry.
To initiate, we broke the barricades of geographies, addressing the challenge of reach or distribution.
He included, “Another barricade that we had broken is the limitation of viewership imposed by language. Good content must travel across nations with subtitles and dubbings.
All of this is made possible by enabling creators to get their stories to reach the customers through the power of video streaming.”
He thanked the observation of Hon. Minister for Information and Broadcasting, Shree Anurag Thakur regarding the role of the OTT industry as a ‘force of good’ in creating jobs all over the ecosystem and increasing its growth.
Answering a question on the ‘soft power of the OTT industry, he said, “As high potential content from India is viewed by international audiences, we are not only presenting India to the world but also showcasing our rich legacy and diverse culture.
We are also bringing India closer to itself as viewers can view their regional content outside their home state and gain a deeper appreciation of the rich diversity of our nation.”