AUGUST 20239Streaming application Hoichoi is making and producing films in Bengali and has become very famous in just few days because of their creative contents. Hoichoi has become connecting link of Bangladesh and India as they started streaming, making and producing Bangladeshi web series and movies which getting popular among the vast audience. Amazon and Hotstar are investing for converting or dubbing media contents in different languages like Bengali, Kannada, Nepali, Tamil, Telegu, and Malayalam to hit local audience. Startups are getting promotion in between live streaming videos on Facebook or YouTube, Hotstar and like this, e-commerce startups are reaching to many people with their wide range of products and services from a single platform and gaining popularity.Future of Digital streamingOTT or Over-the-top platforms are mushrooming in Asia Pacific countries like India, China, South-Korea, Japan and at the same in the UK & US in gigantic scale. The OTT market size was valued at 121.61 billion in 2019 and is predicted to reach around $1,039.03 billion by 2027, growing at a 29.4 percent CAGR between 2020 and 2027. The United States is one of the largest OTT markets in the world with a CAGR of 11.22 percent in terms of revenue and approximately 2.25 percent in terms of subscribers. Startups targeting digital media platforms, short content making platforms & application, thus, video editing and producing houses are increasing to cater such huge profitable market. A startup in digital media streaming business can survive even without acquisition and can have that potential to grow at an exponential height within a year because internet has a strong effect on the whole world, all nooks and corners are connected to this. Through internet, creative content can reach audience simultaneously at the remote areas and metro cities and towns. Earlier people hardly used to spend 0-2 hours over OTT platforms and videos but now they are spending 2-5 hours of their time and 2.5 ­ 4.5 dollars each month over such digital contents and increasing internet traffic of relative website and application. More than 76 percent of the population is the subscriber of any of the leading digital streaming platforms. This penetration of subscribers is expected to expand by 49.9 percent within 2026 with a sharp increase in the market volume of $427.80 billion. Undoubtedly, there is a golden opportunity and deeply vast market for the startups targeting digital content creation and digital streaming platforms brewing creativity and quality contents and platforms. Who knows!! Your company can be the next Netflix or Amazon Prime that will revolve world around it.
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