The world of television and film has undergone a revolution in recent years. It was once the case when, if you wanted to see the latest movies, you’d eagerly anticipate the release date at the cinema or, if you remember such days, you’d even wait for the DVD release. That all changed with the introduction of streaming.
Streaming allows viewers to access the best in entertainment from the comfort of their homes. The best thing is that you can watch what you want exactly when you want to. While the US and UK markets are big businesses, the popularity of streaming has exploded in India of late.
A look at the Indian streaming market
According to ExpressVPN’s streaming report, there are over 600 million internet users in India. That makes the marketplace huge. When it comes to how much content these users consume, the average person will watch some form of streaming for around 6 hours a day. With such demand, it’s easy to understand why streaming platforms are keen to get in on the action and rule the Indian scene.
It was once the case that Indian streaming companies ruled the roost. That saw homegrown platforms such as Zee5, Hotstar, and Voot being the go-to ones. However, this last year has signaled a change. The likes of Netflix, Amazon, and Disney+ have all begun to make significant inroads into this market and could soon be taking the top spot.
The rise of the outsiders
It’s perhaps unsurprising to learn that the likes of Amazon and Netflix have begun to take hold in India. Considering that around half a billion dollars are spent on generating original content, you can see how determined these companies are to make an impact.
Amazon has certainly shown its intentions here. The company has revealed that it will double its spending in India over the next five years. On top of this, around 40 new titles are set to be released in Hindi, Telugu, and Tamil. These native languages are almost sure to add to the success of Amazon’s original content.
How is Netflix performing?
Netflix has proven itself to be the best regarding original content. That’s why 2022 led to it being the most popular streaming platform in the world. The popularity elsewhere was also mirrored in India. Here’s a look at the market share that Netflix has compared to the other big players:
- Netflix – 46.1%
- Amazon Prime – 15.9%
- Disney+ – 9.4%
Part of Netflix’s success is down to popular shows such as Stranger Things. In India, this was viewed by an impressive 15.8 million people. Alongside this, though, Netflix has doubled down on its efforts to produce original content for its Indian audience.
Does this spell the end of homegrown platforms?
Homegrown platforms are not simply sitting back and allowing the big players to dominate. Instead, these platforms are fighting back and riding on the back of India’s fascination with reality shows.
Reports suggest that the demand for content in India will increase to over 4,000 hours in the next 12 months. That means there is room for all these companies to enjoy success.