While mobile continues to be the primary screen of digital content consumption, connected TV (CTV) is emerging as a fast-growing alternative to the small screen. All the leading over the top (OTT) platforms have seen tremendous growth in viewership on CTV. The platforms are eyeing significant revenue growth from the CTV segment.
While the CTV base is very low, the OTT platforms are gearing up for the future as Smart TV user base is witnessing exponential growth. According to FICCI-EY report, smart television sets grew their base to around 5-7 million homes. The connected smart TV sets are expected to reach 14 million by 2023 and 40 million by 2025.
The report further stated that CTVs will change the way people consume content, enabling people to interact with each other from their homes while viewing content.
According to sales decks of OTT platforms, the CTV user base has seen a dramatic surge in the recent past. The CTV base comprises premium customers and presents a unique monetisation opportunity for OTT platforms.
ZEE5 has seen a 3X surge in video views and 2X surge in users on CTV in the last year, as per its internal analytics. ZEE5 has 7 million monthly active users (MAUs) on Connected TV. The monthly video views (MVVs) stands at 25-30 million.
As per Mixpanel data of Voot, the platform has 5 million MAUs and 15 million+ monthly views on CTV. The OTT platform has seen a 25% increase in views per user post lockdown.
According to…