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HomeNewsNew MediaFICCI-EY report predicts big growth of Indian OTT subscription revenue
Monday, 18 March 2019 07:32

FICCI-EY report predicts big growth of Indian OTT subscription revenue

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According to FICCI-EY report titled ‘A Billion screens if opportunity’, the Indian digital subscription revenue may touch Rs 5290 crore by 2021 up from Rs 1420 crore in 2018. The audio subscription will reach Rs 240 crore by 2021 registering a CAGR of 43%.

As per report’s expectations, paying OTT subscribers will touch 30-35 million or 7% of total video viewers and a further 350+ million subscribers accessing bundled OTT services from telcos by 2021. However, it added that consolidation will be needed for platform profitability.

Consumers now prefer multiple video on demand (VoD) services and at least two subscription VoD services – of which one could be bundled with telco data plans. The total paid video subscribers grew from around 7 million in 2017 to around 12-15 million in 2018.

The report said the digital is expected to overtake film in 2019 and print by 2021 to reach Rs 35,400 crore in 2021. Of this, advertising will reach Rs 30,000 crore by 2021 while subscription will cross Rs 5000 crore by 2021.

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