This trend will also see a massive upscale in subscribers on YouTube and TikTok, a video company based in China, within two years.
According to an analysis by Zinnov, 70% of the Indian consumers prefer content to be in Hindi rather than English. One of the testaments highlighted was Glance, a locally based video content platform, which experiences a five-fold growth within a year.
Furthermore, Indian content platforms are said to be diversifying their offerings including original, video-first, vernacular content and an intersection of content and commerce, with global venture capital.
Praveen Bhadada, partner and global head – digital transformation at Zinnov, said: “Today, for content platforms to scale in India, it will be crucial to understand the winning imperatives of innovation and localisation.
“Strategic planning will be key for content platforms to evolve in tandem with mobile users’ changing preferences.
“Identifying the sweet spot between content quality and user scale, empowering personalisation through AI, creating an intersection of content and commerce, all while ensuring ‘frictionless content experience’ is what will determine the leader board in these content wars.”
Zinnov concludes that with the entry of 5G in mid-2020, there would be a new wave of opportunities for content players.
