Nowadays, OTT platforms have got very high popularity among the people. With time each month, a new name is added to the list of OTT platforms. From the year 2020, we have seen the actual take-off of OTT platforms. It is confirmed that there are more than 40 plus OTT platforms are available in India.
The word ‘OTT’ indicates ‘Over The Top’. It is basically a service that streams media, audio, and videos directly to the audience through the internet. It is an appropriate example of a Video On Demand (VOD) service. In this service policy, the customer has to pay fees for the subscription and will get access to watch all the available movies, series, podcasts, and many more entertainment stuff in their t6ablet, mobile, laptop, computer, and TV.
Sharing of SVOD Market in 2021
After the pandemic year, India’s top three popular streaming services have shared 58% of the market. Also, there are in very close competition to beat each other in this competition. After the unveiling of the chart, It has informed that Disney + Hotstar is currently the leader of the market, it claimed about 21% of the market, which is the highest market acquisition in this year, but Prime Video and Netflix are just a few steps away from it, Prime Video is away from 2% margin, and Netflix is from 1% margin respectively.
Netflix claimed 21% of the market; Prime Video has claimed 19% of the market. It is claimed that Zee5 has acquired fourth position and also 9% of the market. This year, the OTT platforms like ALT Balaji have 3% of the market, Jio Cinema has 7% of the market, Sony Liv declared 5% of the market. Without all of this, the other platforms have acquired 18% in total.
Development of Market Share in 2021
Based on Market Share Development, it has come to know that Disney + Hotstar got a slight lead over Netflix and Prime Video in Q1. The other two streaming services like Zee5 and ALT Balaji, have added the market share with a 1% gain. JustWatch has confirmed that Disney + Hotstar is in the top position with the highest5 lead, Prime Video is the second highest.
Netflix has arrived in the list; Zee5 is in the fourth position, Jio Cinema is in the fifth position, and then there is Sony Liv and ALT Balaji in the sixth and seventh position. Last year after the terrible coronavirus hit India and create a terrible situation, but it gives these OTT platforms a high rise as people started to watch movies and series in their homes with their family.