Since the last time we saw you there have been dramatic shifts in multiple areas. Demonetization in India saw massive uptake on digitization of payments, and Trump took over the presidency in the US. In the same period, Reliance Jio changed the Telecom ecosystem in India by adding 200+ million new mobile subscribers, shaping it’s vision of “Internet for Every Indian”.
We also saw 4G in India becoming mainstream, on both network and smartphone tech adoption, it completely dominated the market. 4G featurephone is an innovation that will take the India market by storm and will stay for long.
Lower data cost caused massive growth in data consumption via mobile devices. Gaming, OTT Video and Digital Audio platforms became the flag bearers of increasing data traffic. India saw the launch of seven big OTT platforms in the last 2 years (namely Netflix, Amazon Prime, Hotstar, Voot, Zee5, Sony Liv and Wynk). With the growing OTT consumption and the need of vernacular content, we think in the next 5 years’ vernacular content users will grow 12X compared to 2X growth for English content consumers.