Eros Now Partners with Visa to Expand Consumer Offering

Video Streaming Platform, Eros Now announces its partnership with Visa to strengthen payment integration for the platform

India: The partnership between global leader in payment technology, Visa and OTT service provider, Eros Now, will allow Visa debit and credit card users in India to avail 50% discount on their annual subscription to Eros Now, which has massive content library including 12,000 plus movie titles, original shows, music videos and short format content.

The partnership is aimed at offering wider range of payment options that will account for seamless access to unlimited and superior entertainment content at times of unprecedented growth in online payout and digital video streaming platforms.

CEO of Eros Now, said, “Eros Now is known to entertain audience, since generations and an association such as this with Visa helps in further strengthening our promise of offering consumers with the best of entertainment. Visa, a leader in payments technology around the world, has been offering a great value proposition to Indian consumers. Therefore, this association will help in further boosting the viewership by offering them easy access to the vast content catalogue of Eros Now.”

According to TechSci Research, an Indian user spends an average of 70 minutes on the OTT platform and the average access rate is 12.5 times per week. Viewers are accessing more than 2.5 platforms at a time and there is an uptick in the consumption of digital entertainment through OTT. The recent partnership will offer competitive price for Visa card holders, which is anticipated to fuel the market share for Eros Now as well.

According to the published report by TechSci Research, “India OTT Video Services Market By Streaming Type (Live Vs. Video-on-Demand), Competition Forecast & Opportunities, 2017 - 2023”, India OTT video services market is projected to with a CAGR of more than 30% during the forecast period. Robust market growth is anticipated on account of rising adoption of smartphones, smart TVs and other handheld smart devices in the country. Moreover, increasing adoption of cloud computing, growing internet penetration and rising trend of Bring Your Own Device (BYOD) are anticipated to boost demand for OTT video services in the country over the next five years. Some of the other factors that are likely to positively influence the market include content localization, expansion of online companies into premium video content market and rising government efforts towards fighting piracy and tackling copyright infringement issues.

According to the recently published report by TechSci Research, “Global Video Streaming Software Market By Component (Solution & Services), By Streaming Type (Video-on-demand & Live Streaming), By Deployment Type (On-Premise & Cloud), By End User, By Region, Competition Forecast and Opportunities, 2013-2023”, The global video streaming software market stood at around USD2 billion in 2017 and is projected to grow at a CAGR of over 24%, to cross USD10 billion by 2023, on account of mobile and broadband infrastructure enhancements, rise in data traffic owing to adoption of various smart devices and development of audio and video compression techniques, etc., across the globe. Moreover, increasing network bandwidth for fulfilling rising demand among users to view videos on multiple screens, growing deployment of video analytics as well as artificial intelligence for enhancing user experience and surging demand for video streaming across educational sector are expected to boost global video streaming software market during the next five years.