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OTT stands for "over-the-top" and refers to the delivery of film and television content via the internet, without the need for a traditional cable or satellite TV subscription. Examples of OTT platforms in India include Netflix, Hulu, and Amazon Prime Video. OTT services are quickly becoming one of the most popular ways to consume video media. OTT services offer a variety of benefits over traditional broadcast platforms, as they are accessible to everyone on any device — no matter their location.

The revenue from subscriptions for over-the-top video platforms across India amounted to approximately 54 billion Indian rupees. This was expected to shoot up to 102 billion rupees by 2024.

Over the Top Growth: OTT Platforms in India

India has experienced a 20% growth in OTT audience during the period 2021-2022. According to The Ormax OTT Audience Sizing Report 2022, there are currently 424 million individuals in India who make up the OTT audience. Out of this group, 119 million individuals have active paid OTT subscriptions.

The market growth of OTT platforms is being driven by their increased adoption in various industries, such as information technology, telecom, government, banking, financing, servicing, and insurance, for advertising purposes. Additionally, the growth is further fueled by the introduction of subscription-video on demand (SVoD) and freemium viewing models by these platforms.

According to reports, the video OTT market had a value of INR 249.09 billion in FY 2022 and is projected to reach INR 581.21 billion by FY 2027. This represents a compound annual growth rate of approximately 16.58% during the FY 2023 - FY 2027 period.

The expansion of the OTT industry, which accounts for 7%-9% of the entertainment sector, is attributed to the availability of low-cost data plans and the popularity of short-form content. As of FY 2021, OTT platforms have reportedly invested around INR 55.21 billion, with major players such as Netflix, Amazon Prime Video, and Disney+ Hotstar accounting for a combined expenditure of INR 31.55 billion.

Some Facts About the OTT Market in India

• The number of OTT subscribers in India is estimated to be around 45 million, with more companies attempting to enter the market with their own content.
• The average Indian OTT subscriber spends 70 minutes per day watching content on OTT platforms and watches for a total of 12.5 hours every week.
• The internet penetration rates are at least 50%.

Best OTT Platforms in India: Frequently Asked Questions