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Video Streaming report dives deep into the expanding streaming market, exploring howstreaming Industry fits into the home ecosystem as a replacement. The objective of this research is to understand examining profiles of users, identifying strategies of Netflix and Amazon Prime align with future shifts in this fast-changing market analyse relation between demographic profile (age, gender) of consumer and their behaviour towards consumption of online video streaming channels, to identify perception of Indian consumer based on factors such as Price, Quality, Content, Device friendly for Netflix and Amazon Prime Video.
“Watching TV” means sitting in front of the screen waiting for a favourite program is an outdated. Due to the improvement in mobile devices technology and internet connectivity, this has provided the viewers with the option of accessing digital media content on the go.Video industry is also observing shift towards digital formats all over the world. There is higher online video consumption among youth.
India has the largest young population in the world which is driving the digital media consumption in India. Internet traffic in India is being driven by mobile internet users. The major reason for this will be the availability cost efficient smartphones in India, improving 3G and 4G internet coverage and fast reducing data prices. Indian consumer prefers both long form as well as short form videos online. Within content Original content from video streamingchannelscategories followed by new movies is the most preferred. Being a large and diversified country in terms of demographics and languages, India has specific regional demand for localized content. Most of the players have their products customized on various devices for ease of usage to their customers. Similarly different players have also customized their product to suit their content strategy and service offering. These players also need to pay attention to the usage habits of their customers and segment them on the basis of their demographics, paying capacity and geographical presence.
Even though on demand video consumption in India is on the rise, the internet connection speeds are much lower than most other countries in the world. This is currently the biggest roadblock for the digital content industry in India. The adoption of 3G / 4G technologies is expected to increase the connection speed in India, which is further expected to increase the digital video content consumption.
Deloitte report “Digital Media:Rise of On-demand Content” mentioned that more people spending time on digital media ascompared to traditional media this is possible due to improvement in mobile devices technology andinternet connectivity, which has provided the viewers with the option of accessing digital media content.India has the largest young population who are using digital media. Internettraffic in India is being driven by mobile internet users. Availability affordable smartphones,3G and 4G internet coveragehas given rise to thedemand for on-demand digital entertainment services
LivemintTitled Online Video Forecasts 2018, the report said globally consumers will spend an average of 67 minutes a day watching online videos this year, up from 56 minutes in 2017
Karan (2018) in his paper mentioned the similarities between the two are converging in terms of market access and online and offline access of the content. Both the companies using their strength. Amazon is chasing to acquire broadcasting rights of sports events as live sports telecast would be a game changer.
Virendra (2016) The demographic consumer research has showed us many qualitative factors which could possibly affect the subscription rates. We also developed a quantitative model through which we took 11 independent variables, performed factor analysis and formed 4 factors on which we did multiple regression to identify the explanatory power of factors on subscription rates. We have presented with the managerial implications for our project which have identified pricing, lack of regional content, payment options available as the major factors contributing to low subscription rates of Netflix rates in India
Both Amazon Prime and Netflix are leading video-on-demand online streaming services that allow their viewers access to a myriad range of digital content including movies, award-winning TV shows, original series, documentaries, comedy specials, a more on hundreds of internet-connected devices. They both offer free trials which allow viewers to binge watch a show or a movie for a certain period of time and then bail out. Apart from these similarities both the video streaming platforms have quite a few differences which helps them to differentiate their product from each other and also other competitors.
Exploratory Descriptive research is used with200sample fromNaviMumbai.The study focuses on the consumers buying behaviour in the entertainment industry basically video-on-demand based online streaming service and perception of Indian consumer based on factors such as Price, Quality, Content, Device friendly for Netflix and Amazon Prime Video.
Study shall be focusing on different age groups.
Secondary data will be collected mainly from:Companywebsite, Reportsand surveys ,Blogs ,Articles
177 people responded that they watch shows/movies online but the respondents reduced by 19 when asked whether they watch movies/TV shows on an on-demand online video streaming channels like Netflix, Amazon Prime Video, Hotstar, Hooq, Jio Cinema, Voot, Sony Liv, ErosNow
Maximum people were aware of Netflix, Amazon Prime Video and Hotstar while only 7% of the total 200 respondents did not know any of the above channels.
Out of all the aware channels consumers prefer Netflix followed by Amazon Prime Video followed by Hotstar as their favourite source of online video streaming channel for entertainment.
Out 158 respondents who watch shows/movie on on-demand video streaming channels 55 people said they watch it every day, 69 people watch on only weekends and the remaining 34 watch only once in a week.
Most of the selection process involved in purchasing is based on these influential factors. What drives consumers to choose a particular product with respect to others is a question which is often analysed and studied by marketers. Marketers need to carefully study these influential factors to market the product or services successfully. If the marketers failed to understand the factors that might influence consumers, they will fail to convince the consumer to purchase that product or will fail to meet the demands of consumers.
Availability of original content is the most important influential factor for those who watch TV shows/movies on an on-demand video streaming channels followed by listening about the channels from peers and friends. The marketer should make sure the promotions are based on same line so as to attract more and more customers to get a paid subscription.
Maximum number of people prefer watching their favourite shows on smartphones thus the video streaming channel should have resolution which give a great experience watching on smartphone and user friendly on smartphones
Originals from video streaming channels followed availability of new movie release remain the two most important driving factors for people to prefer an online video streaming channel over traditional medium.
Age is an important demographic factor that affects consumer behaviour. As people grow, their needs change. Similar changes come to their buying decision making patterns.
Lifestyle gadgets and magazines are mostly marketed to the youth or the millennial generation. The taste of this generation is vastly different and they are more digitally inclined, this affects not just the choice of marketing strategy but also the marketing channels used to market to them. Elderly people are less digitally inclined and therefore their consumption of digital products can also be lower.
H0: There is no significant relationship between product-online videoconsumption and age
H1: There is significant relationship between product-online videoconsumption and age
The two gender male and female have different needs in terms of fashion and lifestyle. So, their consumer behaviour in these two areas can be vastly different. It is mainly the difference in needs that lead to differing choices. However, there are several areas where consumption patterns can be similar too like in terms of food and fun. The same movies and same fast food brand may appeal to both the sexes. The same is true about technological gadgets too.
H0: There is no significant relationship between product-online videoconsumption andgender H1: There is significant relationship between product-online videoconsumption andgender
Out42 respondents who do not watch shows/movie on on-demand video streaming channels 14 people stated their reason for not watching as no time,12 people stated expensive subscriptions and the remaining 16stated that they were not interested.