Recently, KPMG launched a new report titled ‘The Digital First Journey’ that goes on to explain how on-demand content has reached a tipping point with consumption shifting to the mobile and going mass particularly on the back of a successful 4G roll out.
The report gives an insight into the key themes of the Indian OTT market, the important pillars of success for an OTT platform and also provides a roadmap to a digital transformation journey that has been divided into four significant phases like digital vision and strategy, customer proposition, business design and execution planning.
The report also talks about operationalisation of the actual pivot of a traditional technology organisation into a digital avatar, highlighting two nodal frameworks for digital enablement, strategy and architecture realisation. The last section of the report highlights the critical considerations for implementation of digital initiatives.
According to the report, growing internet penetration and data consumption are likely to help increase digital advertisement spends in India at 30.8 per cent CAGR between 2016 and 2021.
Mobile advertisement spends and social media aided digital video advertisement spends are expected to grow at 50.9 per cent and 40 per cent CAGR between 2016 and 2021 respectively.
Commenting on the OTT evolution in India and the road ahead for digital and digitising businesses in India, Girish Menon, co-head, media and entertainment at KPMG in India avers in a press release, “OTT consumption in India has reached a tipping point with the rollout of 4G and related data wars which have resulted in a dramatic and rapid growth in internet penetration and video consumption. This has also fundamentally altered the consumption demographics and patterns, with OTT viewership becoming more mass.”
Organisations can no longer afford to take baby steps and will need to wholeheartedly commit to build out their digital businesses. However, pivoting to a digital business requires a change in organisational DNA and a ‘digital first’ mindset. Building a digital business is an evolving process and organisations would need to adopt a systematic approach, balancing scalability and flexibility with speed to market and customer centricity,” he added.