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American Focus > Blog > Entertainment > Sport Dominates as India’s Premium Streaming Market Recovers
Entertainment

Sport Dominates as India’s Premium Streaming Market Recovers

Last updated: September 19, 2024 12:58 am
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Sport Dominates as India’s Premium Streaming Market Recovers
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India’s premium video-on-demand sector experienced a significant surge in revenues in the first half of this year, reaching $1.04 billion, a 38% increase from the same period in 2023. The growth was driven by a strong demand for local content, particularly live sports, across various ad-supported (AVOD), freemium, and paid subscription (SVOD) services, as reported by consultancy firm Media Partners Asia.

According to data collected by the AMPD passive measurement system, a total of 8 trillion minutes of content were streamed in India between January and June. YouTube emerged as the dominant player in the Indian streaming landscape, capturing 92% of all online video consumption, while premium platforms accounted for the remaining 8%. Among premium video platforms, freemium services led the way with 92% of the segment viewing time share.

Despite the vast and price-sensitive market in India, premium and SVOD platforms still hold a relatively small market share but generate substantial revenues. Sports content proved to be the most popular among viewers, with nine out of the top 15 titles belonging to the sports genre. Cricket, in particular, stood out with events like IPL 2024 and the ICC Men’s T20 World Cup 2024 driving significant viewership.

The ongoing dispute between Disney India and Zee Entertainment Enterprises over cricket rights and the regulatory scrutiny surrounding the merger between Reliance Industries Limited’s media businesses and Disney India have added further complexity to the Indian streaming landscape.

Jio Cinema, Netflix, and Disney+ Hotstar emerged as the top players in monetizing the premium VOD category, contributing to 70% of the total revenues in the segment. Jio Cinema led the category in revenue share in the first half of 2024, while Netflix dominated pure-play SVOD monetization.

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Following a challenging year in 2023, SVOD subscriptions rebounded to 120 million in the first half of 2024, with Netflix and Prime Video accounting for nearly 70% of SVOD revenue. The market is expected to continue growing in the second half of the year, driven by partnerships with telcos, pay-TV operators, and OEMs.

With a steady stream of content planned for the second half of 2024, Netflix and Prime Video are poised for continued growth. Freemium platforms are also seeing a resurgence in entertainment spending, with new advertising-friendly formats attracting new users and driving engagement with lower budgets.

Overall, the Indian streaming sector is witnessing rapid evolution and growth, with a diverse range of platforms catering to the expanding audience base. The upcoming festive season and advertising spending are expected to further boost the industry, with a shift towards premium VOD platforms and high-reach UGC platforms.

TAGGED:DominatesIndiasmarketPremiumrecoversSportStreaming
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