The Indian online video market touched revenues of $1.92 billion in 2021, according to a report titled 'India: Online Video Trends' by London-based Omdia. The figure includes online video ad revenue of $1.2 billion and subscription video revenue of $0.9 billion.

Clocking an impressive growth, OTT video subscription revenue in India grew from $500 million in 2020, to reach around $900 million in 2021. Total online video subscription numbers reached 73 million at the end of 2021, increasing from 53 million at the end of 2020, which represents 37% YoY growth.

The report stated that the telecom operators were the preferred partners for OTT players with two out of three bundling deals involving telcos. Pay-TV operators followed with one in four deals (24%). Integration of the OTT service into the partner’s device (set-top box, streaming stick) formed 40% of the partnerships while direct-carrier billing formed 35% and content aggregation 24%.

Disney+ Hotstar, Amazon Prime Video, and Netflix were the top three players with a collective market share of almost 70%. Disney+ Hotstar had a 50% market share, followed by Amazon Prime Video (9%) and Netflix (8%).

Closely following Amazon Prime Video and Netflix were ZEE5 and SonyLIV with 8% and 6% shares of the subscription market respectively. The report also notes that Eros Now notched a 6% market share, followed by ALTBalaji at 4%. Discovery+ and Voot Select were reported to have a market share of 2% each.