Mumbai: India’s Over-the-Top (OTT) streaming landscape is set to witness a significant boom, with current viewers at 216 million across platforms like Netflix, Hotstar, and Prime Video expected to surpass the 300 million mark within the next two years, according to the 2023 Chrome OTT Annual Report.
The report highlights the substantial growth in digital media revenue, totaling Rs. 63,200 crores in 2023. OTT video platforms contribute a hefty Rs. 31,800 crores to this figure, with advertising-based video on demand (AVoD) accounting for Rs. 21,900 crores and subscription-based video on demand (SVoD) making up the rest. Meta alone generates Rs. 16,500 crores in revenue.
In January 2024, AVoD attracted 133 million unique viewers, projected to grow to 205 million by January 2025. SVoD, with 88 million unique viewers, is expected to reach 110 million in the same period.
JioCinema leads the OTT revenue share with 29.6%, followed by Prime Video and Mini TV at 18.9%. Disney+ Hotstar holds a 12.8% share, while Netflix has 6.5%. In terms of unique viewers, Disney+ Hotstar tops the list with 135 million, followed by JioCinema with 125 million. Zee5, Prime Video, and Mini TV each have 52 million and 51 million unique viewers respectively. Notably, more than half of Netflix users access the platform through connected TVs (CTVs), a trend also significant for Prime Video and, to a lesser extent, Disney+ Hotstar.
The total number of yearly OTT viewers rose to 504 million in January 2024 from 496 million in January 2023 and 460 million in January 2022. In 2023, Disney+ Hotstar led in weekly watchtime with 171 minutes, followed by Netflix (149 minutes), JioCinema (142 minutes), SonyLIV (139 minutes), and Prime Video (125 minutes).
The report also reveals demographic insights: males dominated OTT consumption in 2023, and Prime Video’s viewership largely came from the 2-24 age group (31.9%). However, for Disney+ Hotstar and JioCinema, the 25-34 age group was most significant, contributing 40.1% and 39.8% of their viewership, respectively.
With the rapid growth of OTT platforms, the entertainment landscape in India is evolving, promising more diverse and accessible content for viewers nationwide.
