OTT dominates the digital media market at 50%

The media and entertainment industry is constantly changing, with a noticeable trend toward digital platforms becoming more prevalent. The digital media revenue is estimated at Rs 63,200 crore in fiscal year 2023-24.

OTT video platforms at Rs 31,800 crore accounted for 50 percent of the digital media market. AVOD platforms constitute 69 percent of the OTT market at Rs 21,900 crore. The balance of 31 percent is contributed by SVOD platforms that earned Rs 9,900 crore.

Meta, digital audio platforms and other sites form the remaining 50 percent. Meta earned Rs 16,500 crore, digital audio platforms earned Rs 7,500 crore, and other sites earned the remaining.

This was reported in the Chrome Annual Report.

OTT market. JioCinema, with its new Rs 29 monthly subscription plan, captured 29.6 percent of the total revenue generated by OTT video platforms in FY24. Prime Video and Mini TV accounted for 18.9 percent, Disney+ Hotstar for 12.8 percent, Netflix for 6.5 percent, and Aha Video for 2.4 percent. Zee5 and SonyLIV both had a revenue share of 1.8 percent.
BCS Bureau