The subscription video on demand (SVoD) service revenue in India is forecast to grow from $1.5 billion in 2023 to $2.1 billion in 2028, driven by growth in SVoD subscriptions and increase in SVoD household penetration, according to GlobalData.
The SVoD subscriptions in India will increase at a CAGR of 5.2 percent during 2023-2028, driven by the increasing availability and affordability of high-speed internet, and rise in penetration of fiber-to-the-home/building (FTTH/B) services. Investments in local original content and subsidised telco bundles are also driving SVoD penetration.
5G network expansion will aid in the growth of SVoD streaming services by facilitating a seamless streaming experience to the consumers.
SVoD operators such as Disney+ Hotstar, Netflix and Amazon Prime Video are following innovative pricing plans with multi-device streaming options to expand their user base.
Disney+ Hotstar will have the largest share of India’s SVoD services market, in terms of subscriptions through the 2023-2028 period. Disney+ Hotstar has a distinct pool of multilingual, localized and original content library, competitive pricing and exclusive coverage rights to live sports events.
Additionally, Disney+ Hotstar has tied up with telecom providers to extend the reach of its services as a part of telco bundled offers and grow its user base and stay ahead of its competitors. For instance, Vodafone Idea offers its prepaid customers free Disney+ Hotstar mobile subscription at no additional cost for 90 days at INR169.
