It’s been close to a decade and a half since YouTube, the world’s largest video hosting site integrated itself seamlessly into our lives. Today it enjoys a statuesque of being the second most visited website in the world. Andy why not? It is an ecosystem that is engaging a wide variety of audience across the globe with content that surpasses boundaries and barriers. We’ve been searching, viewing, uploading, sharing, saving, commenting and even reporting millions of videos every day. No doubt it is the most powerful medium to be heard and seen, that exists today. According to statisticbrainthe number of videos viewed on YouTube everyday is 4,950,000,000.
Interestingly, what makes Youtube such a preeminent tool is the fact that we are in an age where most of the content that people prefer to see and share on a day-to-day basis is video. Apparently, the Total number of hours of video watched on YouTube each month totals upto 3.25 billion hours. Being a high-intensity app producing user-generated content works successfully for this site. This means that the content that is created on the site is by YouTubers or unpaid contributors who can upload almost anything online under a given guideline, with the prospect of it being shared. Currently, the site has 14 Indian independent content creators on its platform with one million subscribers each.
Evolution of the Next Billion Users (NBU)
But, all said and done even with youtube enjoying a monopoly, other video content platforms can easily co-exist in the every magnifying digital space,while leveraging their USP. It is no secret, that the Indian consumer has evolved into a conscious being. With a rise in middle-class disposable income, increased smartphone penetration, better connectivity followed by the advent of Reliance Jio ensuring unmatched data service across the country; there is a rise of data-driven services across Tier 2 and Tier 3 markets.It is said that Jio will be fuelling consumption for up to 7 GB per month per user by 2021.Every individual now owns an android phone and therefore as per Google has the power of the internet. This section known as the next billion group or the next billion internet users is quite the prime target for such video content platforms that are trying their best to get into the digital gambit.
Leveraging mobile penetration
These new users and finding a way of connecting themselves with the digital space. They own a cell phone, they have access to high speed, cheap 4g internet data. Inspite of many pre-installed applications, they prefer suggestions . This is where video content platforms play a huge role in leveraging their USP and increasing their user base as well as market share. From something as simple as giving them a user interface that does not involve the investment of time, does wonders. Every user consumes content first, therefore by curating viral videos from all over the world and streaming it across one channel without them having to hunt or explore will help them connect better with your app/tool. The gap between what is going on and what they should see needs to be filled, and frankly speaking, Youtube lacks in the space of providing selective content exposure. At flicksrtee we realisedthat the average Indian user is capable of watching 8.5 hours of video content every month, with maximum traffic coming from semi- urban towns. With platforms like Sharechat, clip, hypstar and even bigolive, every Indian wants to be an influencer. They want to be known.These platforms have a regional interface on their phones which makes it extremely easy for such users to be be a frontrunners in places they can. Such localised content platforms plays a key role in bringing consumers closer to like minded people while leveraging mobile penetration.
Customisation and Personalisation of Digital Content
Another efficient alternative to gain traction is by personalizing content for the new users. Consumers’ demand for videos is growing at a rapid pace. No matter where they are, what they are doing they enjoy watching videos as per their liking. At flicksrtee maximum traction is in personalised video feed. Players can take advantage of this opportunity of engaging with their audiences by sending them recommendations for feeds that would interest them rather than asking them to search. Be it comedy, short films, beauty tips or even DIY’d. Indeed, delivering the right set of videos, to the right viewer at the right time is what is needed most. Creating the right mechanism that helps understand the user interest based on past history of views and clicks one can show them feeds that would interestthem in continuing using your platform. When a user is able to consume new content daily, it goes a long way in increasing user traffic as well as revenue for the player. Our in-house reports state that Short-Films, comedy and animation are the most-watched categories across videos.
The Martin Prosperity Institute and Don Tapscott’s Global Solutions Networkrecognize that “the digital revolution has enabled new networks to connect and collaborate across borders, cultures and disciplines in ways that were impossible before.With a content revolution in full swing, it is equally integral to generate local and hyper-local content in vernacular languages in order to attract larger audiences. With 22 official languages within the country, the contingency of you being the first content platform providing a content in a particular regional language is high. Bridging the communication gap by providing regional interface is equally important in breaking the monopoly and finding your niche.Inspite of Youtube being broadcasted in 54 languages, none cater to the Indian audience.
Did you know – Hindi continues to be the most consumed language when it comes to online videos. Hindi videos recorded 20,550 million views in 2016, across platforms and Telugu was the second-best with 12,567 million views.
Being one-of-a-kind is the key
With a country who holds a population of around 1.3 billion people, players have to be cognizant enough to put across their own flavour and ecosystem the right way. Find a way to reach out to your target by reating a niche. You cant be omnipresent, so take a call on where you aim to be. With so many video content platforms changing the way we discover, consume, create, share and store content, it is indeed a battleground out there. Set the bar high with your content, your niche and amidst your targeted audience.
But the market is lucrative and with the fast-changing landscape, video content platforms certainly have a chance to leverage their USP and break Youtube’s monopoly!