Anime Kingdom: OTTs step up investments to draw youth
content is taking centre stage on over-the-top (OTT) platforms in India as streamers look to ape the traditional TV model of offering diverse content slate that caters to different age groups and demographics, amid the summer vacation for schools and colleges.
With a fan base of 180 million and growing, India is poised to become one of the most significant markets for anime content in the world after China even as the global popularity of anime, which has its roots in Japan, is on the rise.
Anime market in India is projected to grow at a compounded annual growth rate (CAGR) of 13% from 2024 to 2030, driven by factors such as Japanese pop culture, global media exposure, and demand from millennials and Gen Zs, as per the US-based Grand View Research.
It estimates the global anime market to be $31.2 billion in 2023, with a projected 9.8% CAGR from 2024 to 2030.
Experts said anime offers OTT platforms an opportunity to target teens and youngsters in the 12-24 age groups.
«Anime is a global favourite for early teens. Very little content is made for that age segment,» said Uday Sodhi, senior partner at digital strategy consulting firm Kurate Digital Consulting. «OTT platforms need to start seriously looking at anime content.»
Sony Group Corporation-owned Crunchyroll, which is dedicated to anime content, set up shop in India last year by incorporating a wholly owned subsidiary and earmarking an initial investment of $10 million.
The platform has over 800 anime titles in India with 8,000 hours of content. Over 70
