Listen as audio
According to a research by RBSA Advisors, India’s video OTT industry is anticipated to reach $12.5 billion by 2030, up from roughly $1.5 billion in 2021, owing to increased access to improved networks, digital connection, and smartphones.
According to the research, the next wave of development in the OTT landscape would come from tier II, III, and IV cities, as well as the Indian language speaking population.
“With improved networks, digital connection, and smartphones, the OTT business is primed for rapid development.” On a daily basis, OTT platforms in India are gaining more subscribers. Aside from top favourites like Disney+ Hotstar, Amazon Prime Video, and Netflix, the market is seeing a slew of new entrants.
These include, among others, SonyLIV, Voot, Zee5, ErosNow, ALTBalaji, Hoichoi, and Adda Times.
According to the research, the Indian video OTT industry is anticipated to expand from $1.5 billion in 2021 to $4 billion in 2025, and then to $12.5 billion by 2030.
The audio OTT market, which includes firms such as Gaana, Jio Saavn, Wynk Music, Spotify, and others, is also expected to expand from $0.6 billion in 2021 to $1.1 billion in 2025, and then to $2.5 billion by 2030, according to the report.
“Over the following four years, the OTT market in India is anticipated to develop at a CAGR of 28.6 percent. RBSA thinks that over the next 9 to 10 years, this business has the potential to expand to a $15 billion industry “It stated.
According to the research, the Covid-19 epidemic has been a game changer, and OTT video streaming sites like as Netflix, Amazon Prime Video, Disney+ Hotstar, Voot, SonyLIV, and others have grown in popularity in India.
It went on to say that the OTT ecosystem is likely to become extremely competitive in the next 4–5 years, and that OTT service providers would compete to become the preferred platform among customers.
Massive investments in originals and acquired content by OTT services such as Netflix, Amazon, Disney+ Hotstar, and others will help subscription video-on-demand make up 93 percent of total OTT revenue (compared to 87 percent globally), increasing at a CAGR of 30.7 percent between 2019 and 2024, according to the report.
According to the research, the ARPU (average revenue per user) in the OTT video category in India is expected to be $7.2 (about Rs 537.25) in 2021. Furthermore, the number of OTT users is anticipated to reach 462.7 million by 2025.
“In the previous several years, Indian consumers’ watching habits have changed dramatically. On the one hand, short-form video content consumption on smartphones and social platforms has increased, while binge-watching series on various OTT platforms has also increased “it was added.
follow us on social media : twitter