According to research by RBSA Advisors, India’s video OTT industry is anticipated to reach USD 12.5 billion by 2030, up from USD 1.5 billion in 2021. This is due to improved networks, digital connections, and smartphones. According to the study, the next wave of OTT growth 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 explosive development. On a daily basis, OTT platforms in India have been drawing a rising number of subscribers. Aside from the big names like Disney+, Hotstar, Amazon Prime Video, and Netflix, there are a slew of new local and regional OTT companies on the scene,” it also added.
SonyLIV, Voot, Zee5, ErosNow, ALTBalaji, Hoichoi, and Adda Times, among many others, are some of them.
The Indian video OTT industry is anticipated to expand from USD 1.5 billion in 2021 to USD 4 billion in 2025, and then to USD 12.5 billion by 2030, according to the research.
According to the report, the audio OTT market is expected to expand from USD 0.6 billion in 2021 to USD 1.1 billion in 2025, and then to USD 2.5 billion by 2030.
According to the research, the COVID-19 epidemic was a game-changer in India, with OTT video streaming sites like Netflix, Amazon Prime Video, Disney+ Hotstar, Voot, SonyLIV, and others gaining massive popularity.
The OTT ecosystem is projected to become super competitive in the next 4-5 years, according to the report, and OTT service providers will compete to become the preferred platform among customers.
According to the report, massive investments in original and acquired content by OTT services such as Netflix, Amazon, Disney+, Hotstar, and others will help subscription video-on-demand make up 93 per cent of total OTT revenue (compared to 87 per cent globally), growing at a CAGR of 30.7 per cent between 2019 and 2024.
According to the research, the ARPU (average revenue per user) in India’s OTT video category is expected to be USD 7.2 (about Rs 537.25) in 2021. By 2025, the number of OTT users is anticipated to reach 462.7 million.
“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, but binge-watching series on various OTT platforms has also grown in popularity,” it also mentioned.
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