India’s SVOD services market revenue to reach US$1.9bn in 2025

The subscription video on demand (SVOD) service revenue in India is expected to grow at a robust compounded annual growth rate (CAGR) of 15.9% from US$0.9bn in 2020 to US$1.9bn in 2025 in line with increasing demand for various over-the-top (OTT) video service platforms in the country, according to GlobalData, a leading data and analytics company.

GlobalData’s India Subscription Video on Demand (SVOD) Forecast reveals that the SVOD subscriptions in the country skyrocketed in 2020 witnessing 88.1% Y-O-Y growth. This was mainly due to the COVID-19 restrictions implemented during the year, including closure of schools and colleges, work-from-home scenario, and most importantly the ‘complete shutdown’ of multiplexes and cinema houses, prompting people confined to their homes to increasingly adopt digital entertainment services.

SVOD subscriptions and household penetration will continue to grow over the forecast period, driven by the rising fixed and mobile broadband penetration in the country thanks to affordable 4G mobile and fiber plans. Reliance Jio, for instance, offers competitively priced 4G and fiber plans packaged with SVOD platforms such as JioTV and JioMovies. JioFiber’s most popular plan with unlimited data at 150 Mbps costs INR999 (US$13.46)/month and packaged with popular SVoD platforms like Disney+ Hotstar, Amazon Prime Video, SonyLIV, Zee 5, Voot Select, ALTBalaji and Eros Now. Global Data