India OTT

India OTT

OTT (Over the Top) platforms are the digital service providers that enable the distribution of audio, video, and other media content directly to consumers over the internet as opposed to through Pay TV operators like cable and satellite. Such latest streaming sites like Netflix, Amazon Prime Video, and Disney+Hotstar have come as important innovations that offer users a great content library on movies, TV series, documentaries, and many more. They adapt to different users, then provide suggested lists, and easy-to-use apps, and can be played on several devices such as phones, tablets, smart TVs, and computers. Most OTT platforms are available through paid services with others coming with advertisements or pay-per-view; this improves viewership experience depending on the choice of a given platform.

The India OTT Market is expected to grow at a steady rate of around 17.3% owing to the rising company mergers and acquisitions. For instance, in late February 2024, Reliance Industries Ltd and Disney India merged their streaming and TV assets in a USD 8.5-billion deal to create an entertainment powerhouse. Moreover, increased internet penetration, diverse content offerings, and rapid digital transformation are anticipated to boost the Indian OTT market.

• Based on content type, the Indian OTT market is segmented into movies & web series, sports, documentaries, and others. The movies & web series segment acquired a significant share of the Indian OTT market. Movies and web series have out-passed other genres in the Indian OTT platform and its popularity demonstrates the shift of consumer embracing multiplex content that provides entertainment and ease at their convenience. This segment has had original series creep through the pipelines to success that are diverse, with an emphasis on regional content that features regional languages and cultures. With platforms increasingly pouring money into both movie and web series creation, this enhances subscriber loyalty and the multiplicity of content offerings, helping the general improvement of the Indian OTT market. Thus, movies & web series held a significant share of the market in the year 2023.
• Based on device type, the Indian OTT market is segmented into smartphone & tablet, desktop & laptop, smart TV, and others. The smartphone & tablet segment caters significant segment of the Indian OTT market due to consumers demanding convenience and mobile control of their streaming subscription services such as Netflix, Amazon Prime Video and Disney+Hotstar streaming services are being designed to be mobile friendly with new features such as offline mode and personalized streaming. Improved high-speed internet with enhanced mobile data plans is also adding to this by allowing streaming without intermissions. Also, such a phenomenon as streaming or binge-watching, the emphasis on the availability of different content, such as the regional market, also contributed to the definition of smartphones and tablets as primary gadgets for accessing OTT services. This is likely to remain a growing trend due to a combination of factors comprising growth in technology and availability of many forms of content, which enlarges the choice in the mobile field and boosts the attractiveness of OTT entertainment. Thus, smartphone & tablet held a significant share of the market in the year 2023.
• For a better understanding of the market adoption of Indian OTT, the market is analyzed based on its state-wise presence in India such as North India, East India, West India, and South India. The OTT market in South India is growing at a fast pace due to the increasing demand for digital content and the rising number of smartphone and high-speed internet users. With more and more viewers in south India moving from linear TV to streaming services there has been an appeal of services such as Amazon Prime, Netflix, and ZEE5, Sun NXT which bring in an abundance of content be it Movies, Web series or regional content in the languages Tamil, Telugu, Kannada, Malayalam amongst others. The consistent premiere of Indigenous programs that suit the local stations’ viewership has also boosted subscriptions as many people interested in relatable and culturally sensitive content tuned in. Moreover, for users, the ease and indulgence of binge-watching plus the portability features of watching content on multiple devices have promoted the OTT platforms. Indeed, as a greater number of the consumer base shifts towards consuming content through digital media, the South Indian market for OTT platforms is well poised to experience further growth in the future due to ongoing investments in content creation and technology. For instance, in April 2022, Amazon Prime Video announced the launch of NammaFlix, a Kannada video streaming service. Available on Prime Video Channels as an add-on subscription, NammaFlix is the 10th Channel to launch on Prime Video Channel. Thus, south India is growing at a significant rate in the Indian OTT market.
• Some of the major players operating in the market include Disney+ Hotstar; Amazon Prime Video; Netflix; JioCinema; Airtel Xstream; ShemarooMe; SonyLiv; Zee5; Discovery+; ALT Balaji.