India’s OTT market likely to touch $7 billion by 2027, says report

India’s over-the-top or OTT streaming video market is expected to touch $7 billion mark by 2027, a media report said on Monday.

According to Livemint, quoting a report released by Media Partners Asia (MPA), OTT streaming video market in India is currently in its second growth phase with total revenues of $3 billion in 2022.

In India, new local and wealthy players are gearing up to grab the market share, which is led by a newly recapitalised Viacom18, backed by Reliance, Bodhi Tree and Paramount. Whereas, incumbent players like Sony and Zee are planning to merge and create a strong online video and television business, the report said.