Airtel has launched its IQ service to cash in on the growing popularity of over-the-top (OTT) video streaming services. Airtel IQ has already onboarded three OTT service providers using the telecom major's new Video Platform as a Service (CPaaS).

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Adarsh Nair, Chief Product Officer, Bharti Airtel said, “Airtel IQ Video brings an easy-to-use platform that can enable anyone to quickly build and scale their business in video streaming. This will encourage enterprises to focus on content while Airtel IQ Video anchors the end-to-end technology ensuring a great viewing experience for customers. With Airtel IQ Video, we expect to see more content startups and traditional content companies coming online and directly engaging with consumers digitally.”

Airtel IQ videos will offer service infrastructure to OTT companies to provide streaming products for both small and large screens with very little investment. Airtel has said the service will lead to a 40 percent reduction in the operating costs for OTT providers.

"Using Airtel IQ Video, we have been able to digitise our content, host it on Airtel’s cloud platforms and offer it to audiences both in India and across the globe through our own OTT app. Importantly, we have been able to achieve this at the fraction of the cost in a very quick time with access to the best technology that has ensured the user experience is excellent. We look forward to deepening our relationship with Airtel," said M. Raajhendhran, Managing Director at Raj Television Network.

India's OTT market is rapidly expanding and experts peg it at $1.5 billion currently. It is estimated that the segment will grow to $12.5 billion by 2030, according to a report by RSBA Advisors.

The company hopes to onboard over 50 brands over the course of the next months for its new service.

(Edited by : Shoma Bhattacharjee)