Lockdown helps to increase the revenue of Audio OTT Platforms

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Joggers are back in the park after months of the pandemic-induced lockdown, and cars have returned to the roads and there are still traffic jams. As the recovery in OTT has accelerated with the opening of companies and public transport, marketers are also returning to platforms such as JioSaavn, Hungama Music, and Spotify India.

The biggest reason to be on these channels for marketers is their rising access and scope. Only in the last few months have the user base numbers been scaled up. 30 million adults tuned into audio OTT versus 23.3 million users in September, according to the new Kantar-VTIONTM study published in October.

Siddhartha Roy, COO of Hungama Digital Media said, Hungama Music is partners with brands from sectors such as FMCG, a mobile ecosystem that is essentially smartphones, vehicles, brands of mutual funds, banks, and OTT video players. We are working on our platform with a host of brands such as Nissan from the automotive industry, Dominos and Pizza Hut from the F&B market, and interestingly, several gaming platforms such as Adda 52 and My Circle 11 have also joined us.

The Indian audio OTT industry was estimated at USD 280 million as of 2019 when the growth of audio OTT was at its height in the country with a host of new entrants in the media. As per the latest Indian Music Industry (IMI) estimates, revenues from the audio OTT industry accounted for 67% of India’s overall recorded music revenues in 2019.

Jiosaavn spokesperson said we have been working in the past few months to ensure that brands can tell their stories to viewers in real-time who is hyper-contextual to their earbud moment. Finally, the role of digital audio as a content marketing tool is growing as content becomes more important to the daily life of a consumer and plays several roles – entertainment, solace, a reminder of happier times. By introducing JioSaavn to their media mix between April and August this year the platform has reported over 120 brands choosing to amplify their marketing narrative. The number of unique brands that have been on board since 2019 has also risen by 72.5% over the same time.

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