Ormax Media has released the latest edition of The Ormax OTT Audience Report: 2024. Based on a sample size of 12,000 across urban and rural India, the research was conducted in June and July of 2024.
Select findings of the report released by Ormax Media reveal that the Indian OTT audience universe is currently pegged at 547.3 Million (or 54.73 Crore) people. This translates to a penetration of 38.4%. The 13.8% growth in the universe vis-à-vis 2023 is entirely driven by the AVOD audience, which grew by 21%, while the SVOD segment witnessed a degrowth of 2%. The report defines an OTT audience who watched at least one online video (free or paid) in the last one month. The report breaks down this universe by gender, age, NCCS, pop strata, states, and cities.
Moreover the report reveals that India has 99.6 Million active paid (B2C) OTT subscriptions, a number similar to last year. The average number of platforms subscribed to per paying audience member has come down from 2.8 to 2.5 in 2024, highlighting the waning need among audiences to subscribe to too many platforms.
This year’s report also elaborates on various devices used by the OTT audience in India to watch online video content. Smartphone emerges as the most preferred device to watch online video content with 97% of Indian OTT audience using it, and a sizeable 81% audience watching OTT content only on their smartphone. The connected TV audience base is estimated at 69.7 Million.
Additionally, the full report is available by subscription for streaming platforms, production companies, media agencies and other companies associated with the OTT category in India.
Speaking about the findings of the report, Keerat Grewal, Head of Business Development (Streaming, TV & Brands), Ormax Media, said: “While the overall expansion rate of the OTT universe has stably been around the 13%-mark post-pandemic, this year’s report highlights the significant role of AVOD segment in expanding the universe. The growth is driven by AVOD audiences, with most of the new entrants into the category watching video content only on YouTube and social media. The stagnation in SVOD audience size is also reflective of the trend whereby free content is driving OTT growth in small town and rural India”.
Elaborating on the significance of the report, Grewal said: “This year’s report offers an in-depth look at the dynamic growth and future trajectory of the OTT landscape in India, that can help OTT platforms and agencies with growth strategy, acquisition and retention decisions, revenue planning and content strategy. We have also expanded the scope of this year’s report to provide an insight into devices of consumption, which will help in defining distribution strategy. This report stands as a testament to Ormax Media’s ongoing commitment to providing insights that empower platforms, production companies, and agencies to enhance profitability through data and analytics.”
