India’s video over the top (OTT) market is expected to touch USD 12.5 Billion by 2035, from USD 1.5 billion in 2021 based on access to better networks, digital connectivity, and smartphones, according to areport by RBSA Advisory. The report highlighted that the next wave of growth in the OTT market will be contributed to front tier II, III, and IV cities and the Indian language speaking population.
OTT industry is ambitious towards aggressive growth, with the help of a better network, digital connectivity, and smartphones. OTT platforms are noted to have a daily basis increase in the number of subscribers. Apart from the top players like Disney+Hotstar, Netflix, and Amazon Prime Video, several local OTT platforms players can beseen gaining enough attraction from the customers.
Various local players like SonyLiv, Voot, Zee5, ErosNow,Hoichoi, and Addatimes are gaining equal importance and delivering quality and viewer’s centric content. With the increase in day-to-day usage of these various OTT platforms there is no doubt in saying that the OTT platforms are becoming the new main source of entertainment with something on the menu for every demography. Thus, as per the report, the Indian video OTT market is predicted to grow from USD 1.5 billion in 2021 to USD 4 billion in 2025 and later to USD 12.5 billion by 2030. Along with that the audio OTT market with platforms like Jio Saavn, Spotify, Wynk Music is also expected 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.