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India’s OTT video market to grow at CAGR of 21.8 per cent between 2018-2023, says PwC

July 01, 2019
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According to PwC’s Global Entertainment and Media Outlook 2019–2023 report, India’s over-the-top (OTT) video market is predicted to grow at a compound annual growth rate (CAGR) of 21.8 per cent from Rs 44.64 billion in 2018 to Rs 119.76 billion in 2023.

The subscription video on demand market will increase at a CAGR of 23.3 per cent from Rs 37.56 billion in 2018 to Rs 107.08 billion in 2023. Furthermore, the report stated that the OTT video market would overtake that of South Korea to attain the position of being the eighth-biggest market in the world by 2023.

Meanwhile, India’s music, radio and podcasts market has grown from Rs 38.9 billion in 2014 to Rs 57.53 billion in 2018. With streaming services finally germinating, total music revenue is forecast to hit Rs 108.58 billion in 2023, rising at a CAGR of 13.5 per cent, the report said.

The report further stated that the Indian media and entertainment industry will grow at a CAGR of 11.28 per cent between 2018 to 2023, to reach a valuation of Rs 4.51 trillion by 2023.

 

 
 
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