Content spend in India to double to $10 billion in five years

New Delhi: Content spend is expected to double to $10bn in the next five years, with online video content investments catching up with pay TV, agreed media industry experts at the Asia Video Industry Association’s (AVIA) Future of Video India conference in Mumbai.

“Quality of content has always been very good in India, but now it is easier for Indian content to travel across the world. OTT has helped it in a big way,” said Apurva Chandra, secretary, ministry of information and broadcasting (MIB). Chandra reiterated the need for OTT to continue with a soft touch approach, as the three-tier self-regulatory system has been working well. While there were concerns that light-touch regulation has led to less desirable content, he said that the industry needed to be more self-aware so that the government need not step in.

Chandra added that a National Broadcasting Policy has been in the works, as the industry was becoming more fragmented. However, this would take time in order to balance the conflicting interests of disparate parties.

With the growth of OTT and original content in India, MIB is committed to the fight against piracy, Chandra said. “The new Cinematograph Bill that is underway seeks to protect the entertainment industry from piracy. We are ready to take action against not only those who record content illegally, but even those who are transmitting it online. The websites which stream pirated content will be blocked,” he added.

The focus on content was a theme followed through the conference.

Sushant Sreeram, country director, Prime Video India, said that being locally authentic provides the best opportunity for regional and global success. India also maintained the second largest development slate after North America, signalling Prime Video’s commitment to the market, he added.

“We are building for all India. There is no one India, there are many Indias and it is important that we speak to all of them,” Sajith Sivanandan, head of Disney+ Hotstar India, said. However, much greater interactivity with content was on his wish-list for the future, as well as the ability to serve the masses but at a scale of one.

Vikram Sahay, joint secretary (policy and administration), MIB, who participated in a content panel with the industry’s content leaders, also said that the best thing about OTT was the democratisation of talent.