Flipkart rolls out its video streaming service to take on Amazon Prime Video
MUMBAI: Walmart-owned e-commerce platform Flipkart has launched its video streaming service. Flipkart Video has been rolled out on the platform’s Android app and will subsequently be enabled on its iOS app as well.
The video service features movies and shows from other OTT players like Viu, TVF, Arre, Dice Media, and Viacom18’s Voot. Unlike Amazon Prime Video, Flipkart Video service is free for all users.
The latest Flipkart Android app has the new Video and Ideas section on the left sidebar. Users can get started with the video service by picking a minimum of three videos. Based on the preferences, the video service presents a curated list of movies and TV shows.
Initially, Flipkart will source content from third-party OTT platforms. “Our video content offering is focused on three primary aspects, keeping in mind our understanding of the market: free, curated and personalised. We believe that our customers shouldn’t pay extra for premium content,” Flipkart had said in an earlier statement.
Unlike pure-play OTT platforms, Amazon Prime Video and Flipkart Video are being used by their owners for building stickiness and brand loyalty. The affordability of smartphones coupled with the drop in mobile data prices has led to a boom in the consumption of video content.
Within video content, entertainment is the most consumed genre on the mobile. Whether it’s sports or movies or shows, consumers are hooked to entertainment content.
The Indian OTT industry has seen an influx of new video streaming platforms vying for the consumers’ attention. Whether it is telcos, broadcasters, content producers or e-commerce, everyone is hopping on to the video streaming bandwagon.
According to a BCG report, the Indian OTT market has the potential to touch $5 billion in revenue by 2023. The study also noted that both ad-supported and consumer pay model will continue to co-exist.
It expects the paying OTT subscriber base to touch 40-50 million by 2023. Further, the advertising video on demand (AVOD) services are expected to have 600 million users by 2023.
The consumer pay model could take many different shapes ranging from pure OTT SVOD to telco drive aggregator model as well as TVOD particularly in categories such as films and sports.
BCG expects SVOD to become a substantial part of the market-driven by strong content development and ability to pay.