India's Video OTT Market To Touch $12.5 Bn By 2030: Report


India’s video OTT market is predicted to the touch USD 12.5 billion by 2030 from about USD 1.5 billion in 2021 on the again of entry to raised networks, digital connectivity and smartphones, in accordance with a report by RBSA Advisors.

The report famous that the subsequent wave of progress within the OTT panorama will come from tier II, III and IV cities and the Indian language talking inhabitants.

‘OTT business is poised for aggressive progress prospects with entry to raised networks, digital connectivity and smartphones. OTT platforms in India have been more and more attracting subscribers every day. Apart from prime favourites Disney+ Hotstar, Amazon Prime Video and Netflix, the area is seeing a plethora of native and regional OTT gamers,’ it added.

These embody gamers like SonyLIV, Voot, Zee5, ErosNow, ALTBalaji, Hoichoi and Adda Times amongst others.

The report stated the Indian video OTT market in India is predicted to develop from USD 1.5 billion in 2021 to USD 4 billion in 2025 and additional to USD 12.5 billion by 2030.

The audio OTT market – which sees participation from gamers like Gaana, Jio Saavn, Wynk Music, Spotify and others – can be poised to develop from USD 0.6 billion in 2021 to USD 1.1 billion in 2025 and additional to USD 2.5 billion by 2030, it added.

‘The OTT market in India is predicted to develop at a CAGR of 28.6 per cent over the subsequent 4 years. RBSA believes that this business has the potential to develop to be USD 15 billion business over the subsequent 9 to 10 years,’ it stated.

The report highlighted that COVID-19 pandemic has been a game-changer and OTT video streaming platforms together with Netflix, Amazon Prime Video, Disney+ Hotstar, Voot, SonyLIV and others had gained immense recognition in India.

It added that the OTT panorama is predicted to get hyper aggressive in subsequent 4–5 years, and the OTT service suppliers will attempt to emerge as the popular platform among the many shoppers.

The huge investments made by OTT providers like Netflix, Amazon, Disney+ Hotstar and others in originals in addition to acquired content material will assist subscription video-on-demand make up 93 per cent of the entire OTT income (as in comparison with 87 per cent globally), growing at a CAGR of 30.7 per cent between 2019-2024, it stated.

The report stated the ARPU (common income per person) within the OTT video phase in India is projected at USD 7.2 (about Rs 537.25) in 2021. Also, the OTT userbase is predicted to be at 462.7 million by 2025.

‘The viewing habits of Indian shoppers have developed loads in the previous few years. While on the one hand, short-form video content material consumption on smartphones and social platforms has been on the rise, binge-watching reveals on varied OTT platforms have additionally turn into extra frequent then again,’ it added.

(PTI)




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