‘Regional language content on OTT platforms is growing significantly’ | News – Business standard

OTT platforms are growing significantly in various regional languages ​​across India, Sanjay Jaju, Minister of Information and Broadcasting, said on Wednesday.

In his keynote speech at India Digital Summit (IDS) 2024, Jaju pointed out that there were more than 60 OTT platforms in India, of which 30 percent were OTT originals operating in regional languages. This number is expected to rise to 50 percent this year.

He also said that the media and entertainment sector was a huge sector and played a crucial role in the Indian economy.

“It has grown phenomenally at a rate of 20 percent and is around Rs 2 lakh crore. In that, the digital media segment is the second largest sub-segment and is showing a growth of around 30 percent – ​​around Rs 60,000 crores – and the film segment has a growth rate of 25 percent,” he said.

More than 200 films were released on digital platforms in the past year, including 75 films that were released directly on digital platforms without a theatrical release, he added.

Speaking about the growth of the digital gaming industry, Shri Jaju said, “The online gaming industry has grown at 34 percent and animation and VFX have a growth rate of almost 30 percent, which is expected to become a $2 billion industry by 2025. ” .

Jaju also announced some new initiatives being taken by the government to boost the media and entertainment sector in India. These include the establishment of a National Center of Excellence in Maharashtra to create world-class media talent and an incentive program to attract international projects.

First print: February 28, 2024 | 11:02 PM IST