Netflix may be ruling the world in digital entertainment segment, but in India it faces tough competition from other players. As per the December figures by Counterpoint Research for the Indian OTT video streaming market, Hotstar has the maximum 75 million subscribers, followed by VOOT with 15 million subscribers. Amazon Prime Video comes third with 11 million subscribers; SonyLiv and Netflix both have roughly 5 million subscribers each.
Counterpoint Research estimates the value of Indian OTT video streaming market at approximately $280 million with nearly 100 million subscribers. It further expects a 35 percent year-over-year (YoY) increase in the market. The report also reveals that the Indians still largely prefer free or ad-supported streaming platforms. Only about 2-3 percent of the total subscriber base actually pays for services on Hotstar while about 6 percent of the subscriber base of Netflix utilises the paid subscription – the rest take advantage of the ‘free first month’ offer.
*Photo Credit: Counterpoint Research
Netflix focusses on the audiences with a taste for global content; Hotstar on the other hand offers a mix of local and global content. Sony LIV and Voot majorly offer local content, sourced from their TV content partners.
With wider availability of 4G network in the country, the user base will definitely witness accelerated growth.