"Indian OTT platform Hotstar is named as the most popular streaming platform in India and accounted for 32% of the total market by the number of subscribers in 2017, followed by Amazon Prime Video with 12%. Meanwhile, Amazon Prime Video had attracted more subscriptions in 2017 than Netflix, primarily because of its more affordable pricing offer, according to IHS Markit."
"The report further forecast India's online video market to grow faster and reach $1.9 bn, representing a compound annual growth rate (CAGR) of 36% between 2019 and 2022. According to IHS Markit, India's online video market, including advertising and subscriptions, is expected to reach $558.2m in 2018, with a 50% year-over-year growth. The growth can be attributed to the expansion of 3G and 4G connections, increased smartphone penetration, and reduction in mobile internet costs."
"However, the online video market remains less significant in terms of revenue when compared to the size of the pay TV market in India. According to IHS Markit, the size of the pay TV market was $7.6 bn in 2017, compared to the online video market with $372.7mn, only one-twentieth of the pay TV market. The main factor behind this was the low subscription fee of pay TV."
Hotstar held the largest share of India’s OTT subscribers in 2017 with 32%, while Amazon Prime Video held 12% and attracted more subscriptions than Netflix due to more affordable pricing. India's online video market, including advertising and subscriptions, measured hundreds of millions in revenue in 2017 and is expected to reach $558.2m in 2018 (50% YoY) and to grow to $1.9bn by 2022 at a 36% CAGR from 2019–2022. Expansion of 3G/4G networks, rising smartphone penetration, and falling mobile internet costs drive growth. The pay TV market remained substantially larger at $7.6bn in 2017, supported by low subscription fees.
Read at The Drum
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