The announcement of a much cheaper Apple TV+ subscription than expected (Rs 99 a month in India and $4.99 in the US and other countries) immediately saw shares of Netflix, Disney and Roku tumbling down as Apple, which has nearly $210 billion cash at its disposal, has sensed the mammoth streaming opportunity that lies ahead and is going to open its coffers for creating more originals, even in regional languages.
Indians today spend 30 per cent of their phone time and over 70 per cent of mobile data on entertainment and movies are their preferred choice on smart TV and larger screens. An over-the-top (OTT) viewer in India is spending approximately 70 minutes a day on video streaming platforms, with a consumption frequency of 12.5 times a week, an Eros Now-KPMG report said last week.
When we look at the data consumption, In India, the Internet video traffic is projected to reach 13.5 Exabytes (EB) per month by 2022 -- up from 1.5 EB a month in 2017 -- with video contributing 77 per cent of all Internet traffic by 2022. The opportunities are enormous and Apple TV+ with its large installed device base is smiling at its rivals who lack the vantage point of being in your home in the form of an iphone or iPad.
“Apple built on their integrated ecosystem advantage by announcing low-monthly pricing for Apple Arcade and Apple TV+, and a free year of Apple TV for a buyer of an Apple device,” said Frank Gillett, Vice President and Principal Analyst at Forrester.
“Though it can all be labelled incremental innovation, Apple maintained its disciplined approach to delivering industry-leading features and experiences built on well-engineered hardware, software and services,” Gillett said.
Netflix, which has reached 1.3 million subscribers in India, just unveiled its mobile subscription plan for India at Rs 199 per month. This is its fourth Indian plan, in addition to the existing basic, standard and premium plans which are priced between Rs 499 and Rs 799.
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