The Asia Video Industry Association’s (AVIA) Future of Video India conference began with a keynote discussion with Shri Apurva Chandra, Secretary, of the Ministry of Information and Broadcasting (MIB).

According to Secretary Chandra, OTT has made Indian content more accessible and acceptable to a worldwide audience. “Content quality has always been very high in India, but it is now easier for Indian content to travel around the world.” “OTT has been a huge help,” remarked Chandra.

He also emphasized the need for OTT maintaining a light touch, citing the three-tier self-regulation system’s success. While there were concerns that lax regulation had resulted in less appealing material, he maintained that the industry needed to be more self-aware so that the government did not have to intervene. As the business became more fragmented, Chandra revealed that a National Broadcasting Policy was in the works. However, balancing the competing interests of all the diverse groups would take time.

The MIB has remained committed to the fight against piracy despite the phenomenal expansion of OTT and original content in India. “The new Cinematograph Bill, which is currently being drafted, seeks to protect the entertainment industry from piracy.” We are prepared to take action not only against people who illegally record the content but also against those who transfer it online. Websites that stream illegal content will be prohibited,” Chandra stated.

This emphasis on the material was a recurring topic throughout the conference. Sushant Sreeram, Country Director, Prime Video India, discussed the need for authenticity in such a diverse market as India. “By being locally authentic, it provides the best opportunity for regional and global success,” Sreeram explained. India also kept the second-largest development slate after North America, demonstrating Prime Video’s commitment to the market.

“We are building for all of India,” said Sajith Sivanandan, Head of Disney+ Hotstar India. There is no one India; there are numerous Indias, and we must speak to all of them.” However, he wished for far more involved with the information in the future, as well as the possibility to serve the masses on a scale of one. “Creative and technology should be working together to serve every single person and get them the content they want,” he continued.

Meeting the digital consumers’ demand was also part of the vision for Viacom18. “We have a digital-first mindset for the foreseeable future. We want to back the digital India vision and put our might behind it,” said Jyoti Deshpande, CEO, of Viacom18, with most of the money spent on content going to digital and not TV. “All formats will co-exist for the foreseeable future. The consumer should be free to interact with content the way they please,” added Deshpande. Sameer Nair, Managing Director, Applause Entertainment, also noted that ‘streamers have done a great service to the content industry, making content more easily available to consumers.’ “We are in the business of creating a mass distraction,” quipped Nair.

Vikram Sahay, Joint Secretary (Policy & Administration), MIB, who participated in a content panel with some of the industry’s top content leaders, also said that the best thing about OTT was the democratization of talent. “The greatest thing is the democratization of talent which this industry has allowed across all parts of the creative content chain,” said Sahay.

However, the jury is still out on the best way to monetize the content that is flooding the Indian market. For Arghya Chakravarty, COO, of Shemaroo Entertainment, advertising was highly dependent on the economic climate, as the advertising markets changed. Hence the sweet spot was always somewhere in the middle, and for long-term sustainability, it would require a mix of both. Praveen Chaudhury, Director, Retention, Engagement & Growth Strategy, DTC Marketing, Warner Bros Discovery, APAC, also noted that the high cost of direct customer acquisition meant aggregation and partnerships remained key.

As the fragmentation of advertising delivery was continuing to put huge downward pressure on rates, the role of operator bundling was also super important, said Prasad Sanagavarapu, Chief Business Officer, INVIDI. With very rich first-party data sitting with the aggregator at a level dwarfing what any individual OTT service could manage, they had a crucial role to play in advertising, added Sanagavarapu.

The very important issue of female representation in the television and entertainment industry was discussed by a distinguished panel of female industry leaders. Smriti Mehra, the CEO – of Business News, Network18, highlighted the fact that all too often workplaces had defining gender roles and too many talented former colleagues had dropped out of the industry. There were societal issues at play as well of course, but there was much positive action that could be taken within the corporate context. Earlier in the day. Jyoti Deshpande had defined it as the search for equity, not just equality.

Wrapping up the conference, Mihir Shah, VP, of India, Media Partners Asia (MPA), said that India’s growth story remained intact amidst global turmoil, with macro tailwinds and digitalization propelling growth for video advertising, and digital penetration now on par with television.

Content spend was also expected to double to US$10bn in the next five years, with online video content investments catching up with pay TV. Shah also noted that mergers and acquisitions will continue to fuel scale and profitability for the major incumbents. And with Connected TV adoption on the rise, premium inventory will fuel the growth of the AVOD segment. “Content is king, and it’s reigning supreme,” summarised Shah.

The Future of Video India is proudly sponsored by AKAMAI, Bharucha & Partners, INVIDI, Magnite, MEASAT, PubMatic, and Samsung Ads.