5 Reasons Why Digital Content is Going to be the Next Big Thing
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.Content and data are the significant elements of the digital space. With time it is becoming target oriented and more customised. One can now create content in his or her own space and own time. The content can then be shared with (or sold to) the world. Thanks to digital boom, the insatiable appetite for content will only see a rise. The content marketing world alone is a $44 billion industry, making content creator jobs abundant in just about any industry. In this digital world there are innumerable means to generate a feasible product (content) that starts your business. Children who grew up feeding on digital content will be adults by 2020. This generation taught us not to be ashamed of bingeing on TV, podcasts, videos, games, and social media. And today we covet it in an incessant assortment of ways. This has generated highly profitable businesses for digital content creators and entrepreneurs.
Dekkho, a disruptive video streaming service in the India provides fully customised solutions to meet a user’s daily need for a perfect premium viewing. The platform, currently, has over 10,000 hours of content from top digital channels such as Sony Music, Zee Music Company, ScoopWhoop, BuzzFeed, AIB, MissMalini.com, East India Comedy, Culture Machine, Epic, and Sony Pictures. Tanay Desai is Co-Founder at Dekkho shared the top 5 Reasons Why Digital Content is Going to be the Next Big Thing:
- More than 50 OTT players have been launched since Netflix’s rollout in 2010. The industry is booming with rising production quality, low production costs, rising consumption of regional content and user-data-driven approach to content creation. Trends in online Entertainment contributes to 31% all of the searches, while music and video streaming together account for 90% of user preferences. The video viewing audience in India is expected to grow to 450 million by 2020, at a compounded annual growth rate (CAGR) of over 14%.
- What is contributing most to making mobiles the primary screen for entertainment is how it is produced; today creators are coming up with personalized content relevant to the viewer’s interests, viewing preferences and geographies. Moreover, 45% of OTT users consume content in regional languages. Dekkho aims to work with 40 regional creators across 6 languages, with a fanbase of at least 200,000 each in the next 1 year.
- Players who have delved into this business include handset manufacturers, telcos, independent creators, and production houses. This gives vast reach through multiple channels. However, a successful aggregator will have to be independent of all, eventually hosting content from top creators under one roof, becoming the default destination for consumption. Handset-based players have preloaded apps on their devices, thereby only targeting existing users. High content costs, slow distribution and limited content libraries is an increasing challenge for such players. Telcos provide built-in payment options through network billing and incentives for data usage. However, they also face issues around differentiating content libraries and network limits. DTH Players are targeting their existing users with white-labelled solutions. However, adoption of new users through this platform is an expensive affair.
- A sustainable approach to solving this problem is through strategic partnerships with aggregators who curate content and hold a direct relationship with creators.
- Dekkho is adding 15,000 users everyday on its web + mobile platforms, and aims to acquire 5M users in the next two quarters. The average watch-time per visit on Dekkho was over 8 minutes in its first month.