Online video revenue to double in APAC by 2024: Report

New Delhi: The online video market in the Asia Pacific (APAC) region will double in size over the next five years, according to an analysis by independent research and consulting group Media Partners Asia (MPA). This will be driven by the explosion of screens and smart devices and mobile broadband connectivity which will ensure digital growth and scalability across the region.

The video market in India, on the other hand, is set for an 8% CAGR from 2019, the fastest growth in the region, propelling advertising and subscription revenues to almost $20 billion by 2024. TV will still enjoy a robust 6% CAGR over that time although online video will rocket forward with an explosive 22% CAGR. Online video will account for 16% of video revenue in India by 2024, up from 9% in 2019.