The outbreak of COVID has accelerated the growth of OTT platforms in India and the number of subscriptions has got increased in recent years.
Compared to other countries, India saw a huge rise in the count of subscriptions as most people rely on OTT platforms as their primary source of entertainment.
Based on the reports of the recent stats of OTT platforms in India, the industry will jump from $1.9 billion in 2021 to $4.5 billion by 2026.
Also, these reports have revealed some other trends about the market shares of different OTT platforms.
Disney+Hotstar is said to have the highest number of subscribers due to its diverse content which includes regional movies, TV shows, sports, and so on.
The platform garners 50% of the market share and 29% of the total market revenue. And second, comes Amazon Prime with a 19% of market share and 22% of the total market revenue.
Though Amazon Prime is far behind than Disney+Hotstar in terms of both subscribers and share value, it’s significantly improving its quality to attract more subscribers.
Previously, it also introduced a mobile-only plan at Rs. 89 to gain more subscribers.
Surprisingly, the most popular OTT platform, Netflix had only managed to acquire only a %5 market share which is very low compared to Amazon Prime and Disney+Hotstar.
This is due to the expensive subscription prices compared to other platforms. However, Netflix has a huge total market revenue of 29% in India.
By August 2021, the platform had over 2 million active subscribers in the country as subtitles played a huge part in this by breaking the language barriers. Mashable