India’s premium video-on-demand (VOD) market saw a 38% revenue rise to US$ 1.04 billion in 1H 2024, driven by local content and live sports, especially cricket. Platforms like Jio Cinema, Netflix, and Disney+ Hotstar led monetization, with Jio Cinema holding a 36% revenue share. SVOD subscriptions grew from 110 million to 120 million, with Netflix and Prime Video capturing nearly 70% of SVOD revenue.
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India’s premium video-on-demand (VOD) market generated US$ 1.04 billion in revenue during the first half of 2024, reflecting a 38% increase from US$ 760 million in 1H 2023, according to ampd’s latest report. Local content played a significant role, accounting for 86% of engagement. Live sports and local Drama & Romance categories fueled demand, with sports content drawing the most unique viewers. Among the top 15 titles, nine were sports-related, including six BCCI events. Cricket, particularly the IPL 2024 and ICC Men’s T20 World Cup 2024, was a major contributor to the sector’s growth.
The report, published by ampd under Media Partners Asia (MPA), also noted that 8 trillion minutes of content were streamed on online platforms in India in 1H 2024. YouTube dominated with 92% of the consumption, while premium VOD platforms—comprising AVOD, freemium, and SVOD services—accounted for 8%. Freemium platforms led the premium segment, with 92% of the 645 billion minutes streamed.
Jio Cinema, Netflix, and Disney+ Hotstar were the top players in premium VOD monetization, contributing approximately 70% of the sector’s revenue. Jio Cinema held a 36% revenue share, while Netflix led SVOD monetization with 38%. Ad revenue was driven by Jio Cinema and Disney+ Hotstar through cricket events like the IPL and ICC World Cup.
“Subscriber growth momentum will continue in 2H 2024,” said Mihir Shah, India vice president, MPA. He added that “with no major sports events, spending will shift toward tentpole non-fiction shows on premium VOD platforms, with a significant portion moving back to high-reach UGC platforms.” Additionally, SVOD subscriptions grew from 110 million to 120 million in 1H 2024, as Netflix and Prime Video capitalized on the affluent audience, capturing nearly 70% of SVOD revenue. Jio Cinema’s affordable subscription plan also expanded its SVOD base.
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