Forecast on video on demand market in India

The subscription video on demand (SVoD) service revenue in India is forecast to grow from $1.5 billion in 2023 to $2.1 billion in 2028, driven by growth in SVoD subscriptions and increase in SVoD household penetration, according to GlobalData.
India video on demand market forecast GlobalData reportThe SVoD subscriptions in India will increase at a CAGR of 5.2 percent during 2023-2028, driven by the increasing availability and affordability of high-speed internet, and rise in penetration of fiber-to-the-home/building (FTTH/B) services. Investments in local original content and subsidised telco bundles are also driving SVoD penetration.

5G network expansion will aid in the growth of SVoD streaming services by facilitating a seamless streaming experience to the consumers.

SVoD operators such as Disney+ Hotstar, Netflix and Amazon Prime Video are following innovative pricing plans with multi-device streaming options to expand their user base.

Disney+ Hotstar will have the largest share of India’s SVoD services market, in terms of subscriptions through the 2023-2028 period. Disney+ Hotstar has a distinct pool of multilingual, localized and original content library, competitive pricing and exclusive coverage rights to live sports events.

Additionally, Disney+ Hotstar has tied up with telecom providers to extend the reach of its services as a part of telco bundled offers and grow its user base and stay ahead of its competitors. For instance, Vodafone Idea offers its prepaid customers free Disney+ Hotstar mobile subscription at no additional cost for 90 days at INR169.