Indian Economy News

India's video industry revenues hit US$ 13 billion in 2023: Report

  • IBEF
  • January 4, 2024

According to a report by Media Partners Asia (MPA), India's video industry revenues surged to US$ 13 billion, surpassing Korea and Australia but trailing behind China and Japan in the Asia-Pacific region. The forecast suggests a growth of US$ 17 billion by 2028.

In 2023, the Asia-Pacific video sector witnessed a 5.5% growth, reaching US$ 145 billion. Online video sales experienced a notable 13% increase, amounting to US$ 57 billion. In comparison, TV revenues showed modest growth at less than 1%, totaling US$ 98 billion, according to MPA – a prominent provider of advisory, consulting, and research services in the media and telecoms sector across Asia Pacific.

Specifically, subscription video-on-demand (SVoD) saw a 15% growth, reaching US$ 28 billion in 2023, or US $ 12 billion, excluding China. Advertising video-on-demand (AVoD) expanded by 11%, totaling US$ 29 billion, or US$ 17 billion excluding China, with user-generated content and social video dominating the AVoD category at an 80% share. In comparison, premium AVoD accounted for a 20% share in 2023, as highlighted in the report.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.