New Delhi: OTT India’s video market is expected to touch $ 12.5 billion in 2030 from around $ 1.5 billion in 2021 behind access to better networks, digital connectivity, and smartphones, according to a report by RBSA advisors.
The report noted that the next growth wave in the OTT landscape will come from Tier II, III and IV cities and Indian-language populations.
“The OTT industry is ready for aggressive growth prospects with better access to networks, digital connectivity and smartphones.
The OTT platform in India has increasingly attracted customers every day.
Apart from the Top Disney + Hotstar, Space and Netflix, see a large number of players OTT local and regional, “he added.
These include players like Sonyliv, Voot, Zee5, Erosnow, Altbalaji, Hoichoi and ADDA Times.
The report said the India OTT video market in India is expected to grow from $ 1.5 billion by 2021 to $ 4 billion in 2025 and further to $ 12.5 billion in 2030.
The OTT audio market – which sees the participation of the player Like Gaana, Jio Saavn, Wynk music, Spotify and others – are also ready to grow from $ 0.6 billion to 2021 to $ 1.1 billion in 2025 and further to $ 2.5 billion in 2030, he added.
“The OTT market in India is expected to grow in CAGR 28.6 percent over the next four years.
RBSA believes that this industry has the potential to grow to the $ 15 billion industry for the next 9 to 10 years,” he said.
This report highlights that the Covid-19 pandemic has become a video game-changer streaming platform and OTT including Netflix, Amazon Prime video, Disney + Hotstar, Voot, Sonyliv and others have gained great popularity in India.
It added that the OTT landscape is expected to get a competitive hyper at the next 4-5 years, and OTT service providers will strive to appear as a preferred platform among consumers.
Massive investments conducted by OTT services such as Netflix, Amazon, Disney + Hotstar and other in the original and content obtained will help subscribe to video-on-demand constitute 93% of OTT total income (compared to 87% global), increasing on CAGR 30.7% between 2019-2024, he said.
The report said the ARPU (average revenue per user) in the OTT video segment in India was projected at $ 7.2 (around Rs 537.25) in 2021.
Also, OTT Userbase was estimated at 462.7 million in 2025.
“Habits Watching Indian consumers have evolved a lot in recent years.
While on the one hand, the consumption of short form video content on smartphones and social platforms has increased, the exhibition of watching parties on various OTT platforms is also becoming more common on.
Other hands, “he added.