The Indian OTT industry is growing day by day. It is not merely a sweet talk and number game but also very visible in terms of ambitious projects like Heeramandi: The Diamond Bazaar, Mirzapur and even the upcoming ones like “The Gulkanda Tales”.
The new data is mind-boggling. The Indian OTT industry is now valued at $6 Billion and is already on par with the traditional theatrical Indian Film Industry. Not only that, but it is also very near the Korean Digital Entertainment industry.
This data is coming from a report titled “Beyond Screens – Streaming VoD’s Impact on the Creative Economy.”. It was commissioned by Prime Video India and conducted by Singapore-based Media Partners Asia.
But what is the factor behind it? Because, except Heeramandi, pretty much all other series are on a modest budget? The population.
For every individual, the US spends $370 through the OTT industry. It is $120 in South Korea.
Guess the number in India. Well, it is merely $4. Unbelievable isn’t it?
With such a low budget, India’s streaming business is showing significant growth and it is a remarkable thing. There is a lot of room for improvement in India’s streaming business. Let’s see how well they perform in future.