India’s OTT video market to touch $7 billion by 2027

India’s streaming video market is in its second growth phase with a revenue of $3 billion in 2022 expected to more than double to almost $7 billion by 2027, according to a new report by MPA (Media Partners Asia).

In India, new local players with deep pockets are gearing up to grab market share, led by a newly recapitalized Viacom18, backed by Reliance, Bodhi Tree, and Paramount while Zee and Sony are merging to create a strong television and online video business, the report said. Going forward, Viacom18’s new streaming platform, leveraging IPL cricket and local entertainment will emerge as an important player in the AVoD space, in particular, grabbing material share over time as it leverages massive reach via Jio mobile and connected TV.