The video OTT market in India is estimated to reach around 10 lakh crore rupees ($12.5 billion) by 2030 which is currently about 2 lakh crore rupees ($ 1.5 billion). Advisory company Reserve Bank of South Africa (RBSA) has released this report. The report said that the market has been strengthened by increasing internet networks and digital connectivity. Also, the content of spoken language in India has also given a boost to its growth.
Apart from Disney Plus, Hotstar, Amazon Prime Video and Netflix, now local and regional companies are also dominating. This includes Sony Liv, Voot, ZEE5, Eros Now, Alt Balaji, Hoi Choi and Adda Times and other platforms. The report says that the video OTT market could reach around 3 lakh crores ($4 billion) by 2025, which is about 2 lakh crores ($1.5 billion) now. At the same time, after the next five years, it is expected to reach about 10 lakh crore rupees ($ 12.5 billion) in 2030.
Platforms like Gaana, Jio Saavn, Wink Music, Spotify are used in Bharat Music OTT. This market can also reach about Rs 3 lakh crore by the year 2025 which is 45 thousand crores now. India's OTT market can see a growth of 28.6% every year in the next 4 years. The report believes that in the next 9 to 10 years it can reach 2 lakh crores.
The report states that the Covid-19 pandemic has been a game-changer and OTT video streaming platforms including Netflix, Amazon Prime Video, Disney+ Hotstar, Voot, Sony Liv among others have been well received by people in India. OTT will see a lot of competition in the next 45 years. It is expected that the OTT service provider says that they will try to become the preferred platform among the customers.
Large investments in OTT services Netflix, Amazon, Disney+ Hotstar as well as other content will help drive subscription video-on-demand to 93% of the total. OTT is expected to grow at 30.7% annually from 2019 to 2024 in India, compared to 87% worldwide.
The report states that talking about the revenue received from a user in the OTT video segment in India, it is estimated to be the US $ 7.2 (about Rs 537.25) in 2021. Also, it will reach 47 million people ($462.7 million) by 2025 based on OTT users.
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