INDIA’S video OTT market is expected to touch USD 12.5 billion by 2030 from about USD 1.5 billion in 2021 on the back of access to better networks, digital connectivity and smartphones, according to a report by RBSA Advisors. The report noted that the next wave of growth in the OTT landscape will come from tier II, III and IV cities and the Indian 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 on a daily basis. Apart from top favourites Disney+ Hotstar, Amazon Prime Video 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 said the Indian video OTT market in India is expected to grow from USD 1.5 billion in 2021 to USD 4 billion in 2025 and further to USD 12.5 billion by 2030.
The audio OTT market - which sees participation from players like Gaana, Jio Saavn, Wynk Music, Spotify and others - is also poised to grow from USD 0.6 billion in 2021 to USD 1.1 billion in 2025 and further to USD 2.5 billion by 2030, it added. “RBSA believes that this industry has the potential to grow to be USD 15 billion industry over the next 9 to 10 years,” it said.