India’s TV, digital video revenues are projected to reach $17 billion by 2028

India’s video market, together with TV and digital, is predicted to develop to $17 billion by 2028, up from $13 billion in 2023, in keeping with Media Companions Asia’s Asia Pacific Video & Broadband Trade 2024 report.

The report presents a complete information on the adoption and monetisation of TV channels, together with free TV and pay-TV, SVOD, premium AVOD, and UGC/Social Video promoting in 14 Asia Pacific markets.

In 2023, the report mentioned the APAC video business posted 5.5% development, reaching $145 billion, primarily on account of a 13% enhance in on-line video gross sales to $57 billion. TV income rose lower than 1% to $88 billion.

The biggest video markets in 2023 have been China ($64 billion), Japan ($32 billion), India ($13 billion), Korea ($12 billion), and Australia ($9.5 billion), it added.

On-line SVOD grew 15% in 2023, reaching US$28 billion, whereas AVOD grew 11% to US$29 billion. UGC/social video dominates AVOD, with premium AVOD having a 20% share. Pay-TV subscription charges confirmed marginal development in APAC, ex-China, with income declines in India and Japan.

MPA projections present APAC video business revenues will develop at a CAGR of two.6% between 2023–28, reaching US$165 billion by 2028, with China’s matured market reaching US$70 billion by 2028.It added that China will develop into extra mature, rising at a 1.7% annual price to achieve US$70 billion by 2028, adopted by Japan (US$35 billion), India (US$17 billion), Korea (US$14 billion), Australia (US$11 billion), and Indonesia (virtually US$4 billion).As per the report, the APAC on-line video sector is anticipated to develop at a 6.7% CAGR to achieve US$78.5 billion by 2028, with marginally contracted TV business revenues. Scaled TV markets like India, Japan, Korea, and Indonesia are anticipated to develop slower. There stay important draw back dangers to TV promoting in Indonesia, India, and Korea.

Commenting on the findings of the report, MPA Managing and Government Director Vivek Couto mentioned: The Asia Pacific video business continues to expertise a secular shift from TV to on-line by way of engagement and monetization. Improved connectivity, rising related TV (CTV) penetration mixed with the expansion of native creator economies, funding in premium native content material, and the large availability of premium sports activities streaming will proceed to drive {dollars} and eyeballs on-line.”

In 2023, Amazon Prime Video, ByteDance, Disney, YouTube, iQIYI, Meta, Netflix, and Tencent accounted for 65% of APAC on-line video income. Native gamers like Jio Cinema and Zee-Sony in India are competing efficiently and have the potential to scale.

“Strategic and personal fairness investments within the on-line video sector in China, India, Indonesia, Japan, Korea, and Southeast Asia are enhancing native and regional corporations’ competitiveness. The web video sector is rationalizing with worth will increase, disciplined content material, and advertising and marketing funding, advert tiers, new monetization methods, and native market consolidation in Korea, Japan, and India,” he added.

Based on Couto, conventional linear TV faces strain as a result of shift to on-line and CTV development, with some territories not anticipated to see a big return on TV advert {dollars}.

He additionally said that native broadcasters are leveraging premium AVOD and SVOD in Australia, India, Indonesia, and Japan with out considerably disrupting pay-TV subscription income outdoors these markets.

“Nevertheless, traditionally sturdy markets corresponding to India and Korea are beneath strain. Malaysia, the strongest pay-TV market in Southeast Asia, is experiencing a deeper contraction throughout the standard pay-TV phase, partially offset by the expansion of bundled broadband and IPTV. In Indonesia and Thailand, the web VOD alternative is more and more extra enticing than pay-TV,” he famous.