THE RUN OF MULTIPLEXES COULD COME TO AN END IF THE MARKET FOR OTT PLATFORMS REACHES OVER RS 12,000 CRORE BY 2023
According to the survey it claims that the OTT business, which is expected to grow from Rs 2,590 crore in 2018 to Rs 12,000 crore by 2023, is poised to repeat what happened to the VCR/VCP/VCD segment in the early 2000s when Multiplex was upcoming in the market. The over-the-top (OTT) industry is anticipated to expand from Rs 2,590 crore in 2018 to Rs 11,944 crore by 2023, representing a compound annual growth rate of 36%. Readmore.: https://industryglobalnews24.com/the-run-of-multiplexes-could-come-to-an-end-if-the-market-for-ott-platforms-reaches-over-rs-12000-crore-by-2023 The analysis cautions that this could result in a recurrence of the 1980s VCR/VCP/DVD boom industry's abrupt demise, given the exponential growth of multiplexes across metro and urban areas during the early 2000s. With over 40 players and unique media content available in all languages, OTT has already taken 7-9% of the revenue and market share of the entertainment sector. It is also steadily expanding....