MUMBAI: Star India-led Hotstar is the chart leader of the Indian OTT market. According to a report by Data Intelligence & Management Platform KalaGato, Hotstar has the highest 'Reach by Install' of 45.88 per cent as of March 2019.
As per the report, Hotstar leads the reach followed by newest entrant Times Internet-led MX Player with 41.4 per cent 'Reach by Install'. Moreover, the former also leads the chart in terms of market share by install with 23.8 per cent.
“Combined with quality content, Hotstar’s investment in cricket streaming rights has helped it garner tremendous market share,” KalaGato chief business officer Aman Kumar said. “MX Player was originally a popular video player app that Times Internet bought in early 2018 and turned into an online streaming platform. This allowed it to enter the market with a large download base that had already installed the app,” he added.
Hotstar, which till last year relied on sports, catch-up content and films, decided to take a leap into content early this year with a new vertical called “Hotstar Specials” to offer premium shows. While it already has a strong foothold in the advertising-led business model, Hotstar Specials has been launched to scale up subscription revenue.
Source: Data from KalaGato
Reliance Jio’s OTT service app Jio TV has increased its reach by install gradually since last year and is now at 34.08 per cent. Both international players Amazon Prime Video and Netflix have increased their reach significantly. While the former stood with 17.06 per cent , the latter stood with 10.37 per cent. Netflix has already announced five new original series on Tuesday. Its international rival Amazon Prime Video has recently unveiled the trailer of its popular series Comicstaan along with premiering a number of titles both in Hindi and regional languages.
According to a report by global accounting firm PricewaterhouseCoopers (PwC), India’s video streaming industry is all set to grow at a CAGR of 21.82 per cent to reach Rs 11,977 crore by 2023. It added that the OTT video industry will record the highest growth rate among all segments and drive evolution over the next four years in the overall media and entertainment industry.