Indian video OTT service to grow at 21.8% CAGR to reach $1.7 billion by 2023 from $638 million in 2018. Subscription video on demand to grow at 23.3% CAGR to $1.5 b, 89.4% of overall revenues. Indian OTT market to overtake South Korea to become the 8th biggest market in the world by 2023. India had the third highest pay-TV revenue at $10 billion in 2018. It’s expected to reach $17.59 billion by 2023. Pay-TV penetration was 91.2% in 2018. India’s TV advertising will become the world’s top TV advertising markets, overtaking the UK, Germany, France and Brazil by 2023. At 10.7% CAGR, India will be the fastest-growing TV advertising market globally over the next five years and will touch $6.8 billion. India is the fastest growing entertainment and media market globally and expected to keep that momentum. In the next 5 years India will see significant growth in OTT, online gaming and Internet advertising. Growth in these sub-sectors spurs from the growing trends around personalisation and increased digitalization.

(Economic Times)