OTT Market Share in India 2024
The OTT market in India is undergoing a dynamic phase. The OTT market share in India is undergoing a revolutionary phase, with numerous players competing for dominance.
History of OTT Platforms in India
The OTT (over-the-top) journey in India started in 2010 with platforms like Big Flix (Reliance) and Eros Now. In the early phase, internet penetration was low and expensive. The content library was also small, and audiences were accustomed to traditional TV.
However, after Reliance Jio’s launch in 2016 situation has changed. 4G data plans offered high-speed internet. The affordable prices caused a significant rise in internet users. The number grew from about 300 million (30 crores) in 2016 to over 700 million (70 crores) in 2019.
Hotstar in 2015 offered free streaming of sports, TV shows, and movies to capture the market. International players like Netflix and Amazon Prime entered India in 2016. The lockdown in 2020 led to a massive surge in OTT subscriptions and viewership. Indian platforms like Alt Balaji, Sony Liv, and Voot also started gaining traction around this time.
Ott Market Share in India 2024
The numbers below are based out from Aug 2024 and are referenced from the Reuters article. The total OTT market is estimated to be at 28 billion US dollars and is owned by players below:
- Disney + Hotstar: Leads the market with 26% market share and 38 million paid subscribers (highest OTT subscribers in India). Exclusive streaming of cricket tournaments (IPL) and diversity in its content makes it the most popular OTT platform.
- Amazon Prime: Holds 23% of market share with around 20 million subscribers. Amazon Prime’s competitive annual plan includes music and free delivery. Shows like Mirzapur, the family Man, Panchayat, and Paatal Lok appeal to a broad audience.
- Netflix: Captures 13% market share catering to around 10 million users. Superior streaming quality and personalized recommendations are Netflix’s strong point. Apart from popular Indian shows like Sacred Games and Delhi Crime, it also offers a vast library of international shows. This collection has attracted a wide range of viewers.
- Zee5: Accounts for 11% of the market share. It leverages its extensive library of Zee network content. Zee5 also offers a huge library in regional languages like Tamil, Telugu, Kannada, and Bengali.
- Jio Cinema: Operated by Reliance, Jio Cinema has a 7% market share. Jio’s acquisition of IPL streaming rights in 2023 to 2027 has raised it’s viewership. Regional content and affordable data plans from Jio mobile are leading it to aggressive user acquisition.
- Sony Liv: Sony Liv maintains a 4% market share with the support of competitive pricing.
The below graph shows the OTT subscribers in India by platform.
Conclusion
India’s OTT market will continue to expand rapidly with increasing subscription numbers and deeper penetration into regional markets.
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