OTTs will fuel job creation, govt feeding their growth by allowing self-regulation: Thakur

The media and entertainment industry, and over the top (OTT) platforms in particular, will fuel economic and job growth in the next few years and government encourages this trend by allowing OTT platforms to self-regulate, information and broadcasting and sports minister Anurag Thakur said at the Times Now Summit on Thursday.

New Delhi:

Acknowledging the exponential growth of OTT platforms, which picked up pace during the coronavirus pandemic, Thakur said the media and entertainment industry is projected to be worth Rs 4 lakh crore by 2025 and that OTT platforms alone have the potential to employ 80 lakh persons.

With expected investments worth Rs 30,000 crore in the next three years, of which 45% is likely to be through FDI, Thakur said India is also the world’s sixth-largest OTT market, despite still being in its nascent stages of growth.