News Update
India’s OTT Market To Touch $12.5 Billion By 2030
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ByStartupStory | July 19, 2021
India’s OTT market to touch $12.5 billion by 2030 from $1.5 billion in 2021, owing to better internet network, connectivity and smartphone uses. According to the report by RBSA Advisors, the next boom in OTT industry will come from Tier II, III, IV cities and the regional language speaking population. “ OTT industry is poised for aggressive growth prospects with access to better networks, digital connectivity and smartphones. OTT platforms in India have been increasingly attracting subscribers. The top favourites include Disney+Hotstar, Netflix, Amazon Prime and Netflix, the space is seeing a plethora of local and regional OTT players,” it added. These include players like SonyLIV, Voot, Zee5, ErosNow, ALTBalaji, Hoichoi and Adda Times among others.
The report explained right now OTT Platforms earns in accumulative revenues of about $1.5 billion which will touch $4 billion in the next 5 years, finally reaching upto $12.5 billion in 2025. “The OTT market in India is expected to grow at a CAGR of 28..6 per cent over the next four years. RBSA believes that this industry has the potential to grow to be a $15 billion industry over the next 9 -10 years,” it said. The report highlighted that Pandemic has attracted people to subscribe to new OTT platforms and that is exactly how OTT Platforms like Netflix, Amazon Prime, Sony Liv, Disney+Hotstar have gained popularity. It added that the OTT landscape is expected to get hyper competitive in the next 4–5 years, and the OTT service providers will strive to emerge as the preferred platform among the growing customers.
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