Streann appoints Naples Technology Ventures owned services company, Ventrue LLC, as its Value Added Distributor for the Indian market. As data prices and device cost for smartphone have fallen, India has emerged as a key market for OTT (over-the-top) content attracting players across the spectrum to set up shop.
Indian OTT market to reach $5 billion in size by 2023, says BCG report
A recent report by global management consulting firm Boston Consulting Group reveals that they have made inroads into the country and will get even more popular going forward. The report pegs that the OTT market, which now stands at $0.5 billion, will grow to be $5 billion by 2023. The digital consumption (relative to traditional TV and print) in India has been additive and not cannabilising traditional media consumption.
Streann brings advanced technologies and market first innovative features that will be very welcomed in the Indian market. Bucking the declining smartphone sales trend in rest of the world including US and China, the smartphone shipments in India increased by 10% to 142 Million in 2018 compared to 132 million in 2017. The number of smart phone users in India is estimated to increase to 442 Million by 2022, a size bigger than the entire population of the USA.
"Internationally we go to market with Value Added Resellers, also called Distributors. We already had several training sessions with the India Team. They provided a solid business plan of the OTT market in India, addressing verticals like Universities, Government, Churches and Broadcasters. We look forward to see our India partner adding additional revenue for Streann in 2019," commented Captain Streann.