Performance Review of the Popular Streaming Services in India in 2023
Nowadays, OTT platforms have got very high popularity among 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 available in India.
The word ‘OTT’ indicates ‘Over The Top’. It is 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 much more entertainment stuff on their tablet, mobile, laptop, computer, and TV.
Sharing of SVOD Market in Q1 2023
In Q1 2023, India’s top three popular streaming services shared 60% of the market. Also, there are in very close competition to beat each other in this competition. After the unveiling of the chart, last year Disney+ Hotstar was the leader of the market, it claimed about 27% market share, and this year Disney claimed about 27% of the market share and also led in the SVOD market. Netflix had 12%, and Amazon Prime Video 21% market share of streaming services.
On the other hand, Sony LIV, Voot, ZEE5, Alt Balaji, and Jio Cinema also suffered in this market share as they declined by 4%, 5%, 11%, 4%, and 5%. Without all of this, the other platforms have acquired 11% in total.
Development of Market Share in 2023
Based on Market Share Development, in Q1 2023 Disney+Hotstar is still holding the lead like last year with the biggest market share adding a 1% drop the last year. Amazon Prime Video also followed suit with the most growth, the new uprising member ZEE5 has increased by 1%, while ALT Balaji has decreased by 1%.
Disney+ Hotstar has secured the first position, while Amazon Prime Video has got the second position, Netflix has arrived on the list in the third position, Zee5 is in the fourth position, Voot is in the fifth position, and then there is Jio Cinema in the sixth position, Sony Liv and ALT Balaji are in the eighth and seventh positions.
A Big thanks to JustWatch.
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