The Indian telecom space has witnessed strong growth over the past few years and Indian consumers are enjoying one of the lowest costs for 4G mobile internet across the globe. Network connectivity and speed is comparable to developed countries, but data is available at much lower prices in India. This has led to a strong growth in the consumption of online media, video streaming content and online games among Indian audiences. Many entertainment content companies have shifted to online platforms or their native apps to deliver content to India’s ever-growing consumer base.
Online gaming has accelerated in recent years, and according to reports from major consulting firms, this growth is also expected to continue in the future. India has a large and young consumer base which is very attractive to online gaming companies. In recent times, many products have been launched in the local market, keeping the Indian audience in mind.
Indians have always been interested in cricket but other sports are also accelerating into new game formats. The Pro Kabbadi League is an example where the popular game of Kabbadi has been transformed into a league format with 12 teams regional.
While Indians love sports, betting on the outcome of sporting events is also very popular across the country. However, most betting took place on offline networks in the past. This situation is changing rapidly with online sports betting in recent years. Online sports betting offers a much safer environment with greater transparency. The platforms operating in India are managed by companies headquartered in Europe or North America. These platforms offer very interesting and high quality casino games and sports betting on major sporting events. Indian punters can consult detailed reviews on real money casino sites and place their bets on different casino games with high payouts.
According to data available on Google Play Store and Apple App Store, social media and gaming apps have seen strong growth during the COVID-19 pandemic. Traffic growth for online media platforms, music and video streaming has been impressive, mainly because people were locked at home with limited entertainment options.
People are now comfortable communicating with each other on social platforms and video conferencing apps like Zoom. With high-speed connectivity, the growth of online services is expected to remain robust even in the future.
Amazon Prime Video and Netflix have spent heavily on content targeting Indian audiences. There have been deals with Indian media companies to create shows for these platforms. Although Netflix and Amazon Prime are the major players, some local apps such as MX Player, Hotstar, SonyLIV, Voot, and Shemaroo have managed to grab market share in this fast-growing segment.
Gaming apps like PUBG, Fortnite, Call of Duty and Battlelands are also gaining popularity among young Indians. However, the Indian government has banned PUBG and social media app Tik-Tok due to their connection to China.
The digital entertainment segment has a promising future in India. High quality regional content has a high retention rate in the Indian market. According to the PricewaterhouseCoopers report, the Indian market recorded a CAGR of 11.5% in the five years to 2018. The report predicts that the market and content spending is expected to remain robust in this region.