India's OTT Audience Reaches 547.3 Million, Driven by AVOD Growth

Ormax Media, a leading media consulting firm, has unveiled the latest edition of its extensive audience research report, "The Ormax OTT Audience Report: 2024." Conducted across urban and rural India in June and July 2024, the report is based on a sample size of 12,000 individuals and offers an in-depth look at the growing OTT (Over-the-Top) audience in the country.

According to the report, the Indian OTT audience has reached an impressive 547.3 million (or 54.73 crore) people, accounting for 38.4% of the population. This marks a 13.8% increase from 2023, primarily driven by the growth of the AVOD (Advertising Video on Demand) segment, which saw a 21% rise. In contrast, the SVOD (Subscription Video on Demand) segment experienced a slight decline of 2%.

The report defines the OTT audience as those who watched at least one online video, whether free or paid, in the last month. It provides a detailed breakdown of this audience by various demographics, including gender, age, socio-economic status (NCCS), population strata, states, and cities.

Keerat Grewal, Head of Business Development (Streaming, TV & Brands) at Ormax Media, highlighted the significance of the findings, noting, "While the overall expansion rate of the OTT universe has stabilized around 13% post-pandemic, this year’s report underscores the crucial role of the AVOD segment in driving growth. Most new entrants are consuming content primarily on YouTube and social media, reflecting the trend of free content gaining traction, especially in small towns and rural areas."

The report also reveals that India currently has 99.6 million active paid OTT subscriptions, a figure consistent with last year. However, the average number of platforms subscribed to per paying user has decreased from 2.8 to 2.5 in 2024, indicating a shift towards more selective content consumption.

In terms of device usage, the smartphone remains the most popular choice for watching online video content, with 97% of the OTT audience using it, and 81% exclusively watching on their smartphones. The report estimates the connected TV audience base at 69.7 million.

Grewal emphasized the broader implications of the report, stating, "This year’s report provides a comprehensive view of the evolving OTT landscape in India, offering valuable insights for OTT platforms and agencies in shaping growth strategies, customer acquisition, revenue planning, and content distribution. The expanded scope of the report to include device usage further aids in defining distribution strategies, reinforcing Ormax Media’s commitment to empowering the media industry through data and analytics."

This report serves as a vital resource for understanding the dynamic growth and future trajectory of the OTT sector in India, providing actionable insights for industry stakeholders.