India’s OTT video market will grow at 21.8% CAGR, PwC report says

CHENNAI: India’s OTT (over-the-top) video market will grow at a 21.8% CAGR (compound annual growth rate) from Rs 4,464 crore in 2018 to Rs 11,976 crore in 2023, according to PwC’s Global Entertainment & Media Outlook 2019–2023 report.

The study, conducted on the Indian entertainment and media industry, stated the industry is growing at a compound annual growth rate (CAGR) of 11.28% between 2018 and 2023 and to reach Rs 4,51,373 crore by 2023.

Rajib Basu, Partner & Leader – Entertainment & Media, PwC India, said, “Our research shows that in the next five years India will see significant growth in over-the-top (OTT), Online Gaming and Internet advertising. Growth in these sub-sectors spurs from the growing trends around personalisation and increased digitalisation.”