India’s digital video and OTT market set to more than double to $9.17 billion by 2030: MPA

India’s digital video and over-the-top (OTT) streaming industry is undergoing rapid growth, with total revenues projected to touch $9.17 billion by 2030 more than double the $4.31 billion recorded in 2024 according to the latest report by Media Partners Asia (MPA). Advertising-led models are expected to drive most of this expansion, accounting for over 70% of incremental revenue growth over the decade.

The sector has steadily scaled up from $1.44 billion in 2020, fuelled by widespread digital adoption. As per Media Partners Asia’s analysis, the industry is growing at a compound annual growth rate of around 12%, supported by a mix of subscription-based and ad-supported revenue streams.

Subscription video-on-demand services crossed the $1 billion mark in 2024 and are forecast to nearly reach $2.68 billion by 2030. Even faster growth is being seen in advertising-supported content, which rose from $1.03 billion in 2020 to $3.25 billion in 2024 and is expected to climb to $6.48 billion by the end of the decade.

User adoption continues to surge. The number of streaming subscriptions increased from 52.6 million in 2020 to 135.6 million in 2024 and is projected to reach 357.4 million by 2030. At the same time, subscribing households are expected to grow from 39.3 million to 75.7 million, indicating that an average household maintains about 4.7 simultaneous streaming services.

Despite the high volume of subscriptions, average monthly revenue per user remains low at roughly $0.50, reflecting India’s high-scale, low-cost market structure. Even so, overall subscription revenues have risen to nearly $2.7 billion when including direct payments as well as bundled offerings through telecom and device partnerships. Performance varies widely by platform. Netflix has grown to over 24 million subscribers in India, generating close to $690 million annually. Amazon Prime Video has more than 32 million subscribers and revenues exceeding $500 million, aided by its integration with Amazon’s e-commerce ecosystem.

JioHotstar dominates in terms of reach, with subscriptions crossing 225 million and revenues exceeding $1.1 billion, driven by live sports, competitive pricing, and extensive distribution. Regional platforms such as Zee5, Sony LIV, and Sun NXT continue to attract viewers through strong local-language content. YouTube Premium is nearing 18 million subscribers, signalling a growing segment of users willing to pay for ad-free viewing.

Advertising-supported models have emerged as the core revenue engine across the digital video landscape. Total advertising revenues from online video platforms reached around $6.5 billion, growing at nearly 12% annually and contributing the largest share of monetisation.

YouTube remains the leader in digital video advertising, with revenues rising from $575 million in 2020 to over $1.84 billion in 2024 and projected to exceed $3.05 billion by 2030. Meta’s video formats generated approximately $747 million in advertising revenue in 2024, with steady growth expected ahead.

JioHotstar’s advertising business has scaled rapidly, reaching about $345 million in 2024, with projections suggesting it could cross $1.6 billion by 2030, supported by premium sports rights and large-scale live programming.

Amazon Prime Video began meaningful ad monetisation in 2024, generating an estimated $37 million that year, with forecasts indicating growth to over $240 million by 2030 as ad-supported tiers expand. Sony LIV and Zee continue to record steady advertising growth, backed by strong programming and regional appeal.

Mobile broadband penetration in India has reached nearly 69%, while fixed broadband has crossed 20%, improving streaming quality and boosting advertiser confidence.

Overall digital advertising spend in India has expanded to nearly $22 billion, underscoring marketers’ increasing preference for measurable, performance-driven platforms.

Including subscriptions, advertising, and theatrical revenues, India’s total screen industry revenue stands at approximately $15 billion, with digital video platforms capturing a growing share of both consumption and monetisation.

The trajectory of the sector points towards an advertising-led future, shaped by expanding connectivity, widespread mobile usage, and intense platform competition in one of the world’s most dynamic digital video markets.