KPMG in India brings this report at a crucial juncture when the era of on-demand content has reached a tipping point with consumption shifting to the mobile screens and going ‘mass’ – particularly on the back of a successful 4G roll out.
OTT consumers will demand seamless access to services, compelling stories and value for money. As the OTT landscape gets hyper competitive, organisations which are able to tick all the above boxes may stand a chance to emerge as the preferred platforms for consumers. To pivot from their traditional businesses, media organisations would need to commit zealously to an organizational transformation initiative, which aims to harness the collective energies of all stakeholders towards a single minded ‘Digital First’ cause. Right from telling the digital story to the internal stakeholders to implementing the digital architecture on ground, each step in the digital transformation process holds the key to survival and potentially to success in the market.
The report gives an insight into the key themes of the Indian OTT market, key pillars of success for an OTT platform, roadmap to a digital transformation journey divided into 4 significant phases from a digital vision and strategy, customer proposition, business design and execution planning. The report also delves into operationalisation of the actual pivot of a traditional technology organisation into a digital avatar, highlighting two nodal frameworks for digital enablement, strategy and architecture realization. The last section highlights the critical considerations for implementation of digital initiatives.
Commenting on the OTT evolution in India and road ahead for digital and digitizing businesses in India, Mr. Girish Menon, Co-Head, Media and Entertainment at KPMG in India, said, “OTT consumption in India has reached a tipping point, with the 4G rollout 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. Organizations 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 organizational DNA and a ’digital first’ mindset. Building a digital business is an evolving process and organizations would need to adopt a systematic approach balancing scalability and flexibility with speed to market and customer centricity.”