The Indian streaming market has surged 45% year-over-year (YoY) in the first quarter of 2023, driven by a significant increase in subscriptions to platforms such as Reliance Industries Ltd.’s (RELIANCE) JioCinema and Amazon.com Inc.’s (AMZN) Prime Video.
The growth is attributed to an expanding middle class, improved internet penetration, and the increasing popularity of original content. According to a report by Deloitte, the Indian streaming market is expected to reach $13.2 billion by 2025, up from $4.3 billion in 2020.
Market Move
The surge in the Indian streaming market has led to a significant increase in advertising revenue for platforms such as Hotstar, which saw a 25% YoY growth in Q1. This growth is expected to continue, with Deloitte predicting a 30% annual growth rate for the Indian streaming market over the next two years.
Drivers
The drivers behind the surge in the Indian streaming market are multifaceted. Improved internet penetration, driven by increased mobile data affordability and faster speeds, has enabled more Indians to access online content. Additionally, the growing popularity of original content, such as web series and documentaries, has led to an increase in subscriptions.
Reactions/Quotes
“The Indian streaming market is witnessing a significant shift towards high-quality, engaging content,
