India's video entertainment ecosystem to touch $13 billion revenue by 2028: MPA
revenue growth, said a Media Partners Asia report.
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The video entertainment economy comprises pay TV, user-generated content (UGC), and premium VOD platforms.
The report, titled ‘Beyond Screens: Streaming VOD’s Impact on India’s Creative Economy’, said the premium online video revenue is expected to reach $3.7 billion by 2028, up from $1.7 billion in 2023.
Premium VOD comprises platforms that offer entertainment, sports, and news content to consumers through subscriptions, advertising, and hybrid models. India had close to 60 streaming platforms until 2023.
Premium VOD platforms spent $2.2 billion on local content across entertainment and sports in 2023, the report said. With content spends of $2.6 billion, online video entertainment could potentially comprise 30% of the video industry’s content investment by 2028, it said.
Investment in original online video shows is expected to touch $1.2 billion by 2028, up from $479 million in 2023.
The report said that over-the-top (OTT) entertainment content spending is narrowing the gap with pay TV, which has historically led video content investments.
As per the report, streaming VOD has created about 174,000 direct and indirect jobs, with the potential to nearly double employment opportunities by 2028.
Streaming VOD’s impact now extends far beyond the creative industry into allied industries, including
