OTT viewership on smart TV in India has doubled in the last one year: Experts

India is one of the biggest markets globally for content consumption across screens. The pandemic period and lockdowns saw a tremendous growth in OTT content consumption and we saw families consuming OTT content together. This has led to the requirement of bigger screens to watch digital content and thus the demand for connected TVs with higher specifications and competitive pricing.

According to Counterpoint Research’s TV Tracker Service, India’s TV shipments grew 46% YoY in Q2 2021. Meanwhile, the smart TV market in India recorded 65% YoY growth in Q2 2021. All the major electronic brands today have smart TV offerings in their portfolio, which are fast replacing non-smart TVs. Brands like Xiaomi, Samsung, Sony and LG are leading the smart TV space.

Today, connected TVs come with preset OTT offerings, along with Internet connectivity, thus providing a one-stop shop for all entertainment requirements.

As per industry reports, TV sales in India currently stand at around 20 million units and is expected to reach over 70 million units by 2025. Some industry experts also expect sales to cross 100 million units by 2025.

Amitt Sharma, Founder & CEO, VDO.AI, informed, “OTT viewership on smart TV in India has doubled in the last one year – from 32 million to 62 million. With economies of scale, rising smart TV sales, rising OTT subscribers and quality content available on demand at the click of a button, viewership will only grow. The cherry on the top is that India has one of the lowest data costs in the world. OTT viewership on smart TV is just about to skyrocket, fasten the seat belt!”

On the other hand, Mike Chen, General Manager, TCL India, remarked that right now the TV market is stagnant. However, Diwali sales are expected to be high to bring offline sales back on track. “Online has seen a good growth of 35% sales as an industry, which shows the positive consumer sentiments. If we are spared the COVID-19 third wave, it will be very beneficial for all the business sectors in the key Diwali season.”

According to Nilesh Gupta, Director, Vijay Sales, “There is hardly a cost difference of 15% in the entry sizes and in the bigger screens. Today, most of the manufacturers have only smart TV options. This year, if we do not have any more lockdowns, we can expect a single digit growth in numbers and a double digit growth in value terms.”

(Edited and Additional Inputs by Shanta Saikia.)