Transformation in technology and easy access to the internet has brought OTT streaming to every household in India & South Asia. Today, India enjoys one of the cheapest mobile and broadband internet in the world making India a global market for OTT streaming services. Countries from South Asia like Pakistan, Bangladesh & Srilanka have a steadily growing internet penetration with many users subscribing to various OTT services.
We have created a detailed report where we discuss the progress OTT has made in India and South Asia and how they are expected to perform in the next 4 years. Download the report today.
Here are some interesting facts about the OTT market in India & South Asia
- India currently has about 45 million OTT subscribers and more companies are trying to capture the OTT market with their content.
- Indian OTT subscriber watches OTT content for 70 minutes a day with a weekly frequency of 12.5 hours.
- Internet penetration is at least about 50% in all these countries. Considering a very dense population, it is a very big number.
Factors Responsible for OTT Growth
As of 2022, 47% of India’s population is actively connected to the internet. The number is expected to rise to 78.1% by the end of 2027. Other countries have also shown similar trends. More and more people are getting access to the internet and this has fuelled OTT growth.
Rise In Video Consumers
India’s online video user base has scaled to more than 350 million people, growing 24% from 2018 to 2020, nearly twice as fast as markets such as China and Indonesia. Several OTT players have come into the market as well targeting various types of audiences in India. Netflix for example has 5900+ titles available in its India library and 5.5 million paid subscribers.
Acceptance Towards Multiple VOD Models
Ad-Supported Video On Demand (AVOD): India generated US $1.1 billion in 2021 with a major chunk coming from youtube. Pakistan also has about 71.1 million Youtube users and these countries being sports-loving nations, Connected TV ads revenue is also expected to grow.
Transactional Video On Demand (TVOD)/ Pay Per View: India amassed US $238.4 million from pay-per-view services in 2021.
Subscriber Video On Demand (SVOD): An estimated US $1.3 billion has been generated in 2021 from India in the form of subscriptions and several OTT platforms such as Hotstar, Amazon Prime Video, Netflix, etc have started creating content specific to regional audiences.
The OTT market in India and South Asia is expected to grow vastly in the next 6 years. The arrival of high-speed internet and increased internet penetration suggests that more and more people will be consuming OTT video content in the coming days. The extent of growth will also depend on government policies as well as the content strategy of the OTT service providers, but if numbers are to be believed, it is a very vast market.
Download and read our latest report on the OTT market projection for India and South Asia from our website today.
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