Disney+ Hotstar has a 50% market share in India while Amazon Prime Video and Netflix lag behind with 29% and 5% respectively.
The COVID-19 outbreak last year has resulted in exponential growth of OTT services in India. During the pre-pandemic era, only a few million people were relying on digital streaming platforms for their entertainment. However, with the explosion of Coronavirus, these streaming services have become the number one source of amusement. Compared to other countries, India saw massive growth in subscribers across OTT platforms. A recent report covered the recent stats of OTT platforms in India, and how this industry would expand in the years to come.
Disney+ Hotstar is the King of Indian OTT space
According to this report, the industry is expected to grow from $1.9 billion in 2021 to $4.5 billion by 2026. These reports disclosed the market share of various OTT platforms in India.
According to this report, Disney+ Hotstar has the highest number of subscriptions in India. One of the prime reasons for this high subscription count is the diversity of content this platform offers. Disney+ Hotstar boasts on regional movies and TV shows along with sports coverage of popular leagues like the Indian Premier League, English Premier League, and several others. Owned by Novi Digital Entertainment of Star India, the platform has a 50% market share and earns 29% of the total market revenue.
Next in line is Amazon Prime Video, which has a 19% market share and earns 22% of the total market revenue. Amazon Prime Video has seen good growth in its subscribers in the last two years. It is expected to give tough to Disney+ Hotstar in the coming years.
Next comes the worldwide streaming giant Netflix. The digital streaming service has a pretty low 5% market share. One of the main reasons for this low market share is the expensive prices compared to the other platforms. However, the platform has the highest share, 29%, in the market revenue.
How OTT platforms are affecting the Indian audience?
According to a report from Betway’s Satta Matka team, the emergence and expansion of OTT platforms is affecting the Indian audience. These platforms have changed the way citizens in India view Television. As smartphones are reaching the rural areas of the country, more and more people are adopting OTT platforms as their primary source of entertainment.
Well aware of the requirements and needs of the audience, these platforms are offering a vast variety of content ranging from regional cinema, foreign TV shows, live sports streaming etc.
As experts believe, the OTT industry will continue to grow at a rapid pace. The day is not far when it will surpass the traditional TV and cinema industry in terms of revenue.