1 min read.Updated: 11 Jun 2021, 10:29 AM ISTLata Jha
OTT video, along with internet advertising, video games and e-sports, and music, radio and podcasts are the top four segments expected to see revenue growth in the country over the next four years, according to a report
New Delhi: Television broadcast company Sony Pictures Networks has forayed into audio streaming with the ‘Go-Beyond Podcast’ that will celebrate individuals who have been brave in dealing with life’s challenges. It will be available across platforms like Spotify, Apple, Amazon Music, JioSaavn and others.
Those featured in the podcasts include chef Amrita Raichand, actor and comedian Ash Chandler, former Australian cricketer Jason Gillespie, environmentalist Bittu Sahgal, author Samit Basu, and historian Vikram Sampath.
"As the digital audio craze continues to explode, ‘The Go-Beyond Podcast’ creates deeper engagement with audiences by bringing to the fore real-life stories and insights of achievers who braved small or big limitations to resonate with success. This is our endeavour to both inspire and entertain a global listener-base," N.P. Singh, managing director and chief executive officer, Sony Pictures Networks India (SPN) said in a statement.
OTT video, along with internet advertising, video games and e-sports, and music, radio and podcasts are the top four segments expected to see revenue growth in the country over the next four years, according to findings from the Media and Entertainment Outlook 2020, a report by multinational professional services network of firms, PricewaterhouseCoopers or PwC.
Fuelled by the uptake of music streaming brands and people turning to motivational, spiritual, fun and fitness content during the lockdown, India has emerged as the third largest podcast listening market in the world after China and the US, with 57.6 million monthly listeners, the report said.
Further, the segment is expected to touch revenues of $1.7 billion in 2024, increasing at a CAGR of 13.5%. India will also see strong increase at 30.4% CAGR in its monthly podcast listener base over the next five years, supported by the entry of foreign players and original content on topics including news, society and culture, the report said.