Regional content, smartphones drive India's OTT growth in 2024: OTTplay

India's OTT landscape in 2024 has witnessed unprecedented growth, driven by a mix of timeless classics and regional storytelling, according to the latest report by OTTplay. From the enduring popularity of shows like Taarak Mehta Ka Ooltah Chashmah and Shrimad Ramayan to the relatable charm of Gullak and the political intrigue of Maharani, the Indian audience's appetite for diverse content has reached new heights.
Dramedy and action continue to be evergreen genres, but regional language OTT platforms have emerged as the true game-changers, reshaping content consumption patterns across the country. With viewers increasingly gravitating toward regional stories, platforms are investing heavily in multilingual offerings to cater to a broader audience.

Prime viewing hours in India remain consistent, with 7-10 PM emerging as the golden window for screen time. Annual subscription plans have become the go-to choice for households, offering both convenience and value. Smartphones reign supreme as the preferred device for streaming, reflecting the seamless integration of entertainment and technology in everyday life.

On the global front, OTT platforms are reaping record-breaking revenues, fuelled in no small part by India's insatiable demand for digital content. With a blend of universal appeal and localized storytelling, the country's OTT ecosystem continues to set benchmarks on the world stage.
According to the report, globally, the average subscription per viewer stands at $316.4, with users spending an average of 4 hours per week on platforms. Revenue from OTT platforms is expected to soar by the end of 2024, reflecting the growing penetration of streaming services across demographics.

In India, the viewer base has surged to 347 million, with a staggering 60% of content consumption coming from regional languages. Telugu leads the pack (15%), followed by Tamil (13%), Malayalam (8%), and Bengali (7%). Smartphones have become the dominant device for streaming, accounting for 70% of all viewership.

Another key insight is the subscription trend, where Indian viewers exhibit a strong preference for annual plans over monthly subscriptions, ensuring cost-effective access to their favourite content.

The findings highlight how OTT platforms are tailoring their offerings to cater to localized content and mobile-first audiences, paving the way for exponential growth in the industry.

Smart phones

The data reveals that smartphones have become the preferred device for OTT consumption, with a staggering 75% of viewers choosing their mobile phones to watch their favourite shows and movies.
This trend is further supported by the average number of subscriptions per viewer, which stands at 2.4. This indicates that viewers are subscribing to multiple platforms to access a wider range of content, highlighting the growing demand for diverse entertainment options.
Interestingly, the report also sheds light on viewer preferences for subscription plans. A notable 38% of viewers opt for annual pricing plans over monthly subscriptions, suggesting a growing inclination towards long-term commitments and potentially seeking better value for their money.
This report underscores the evolving landscape of OTT consumption, with smartphones driving viewership and viewers seeking both variety and affordability.

Genres

Drama and Action Dominate: Drama and Action emerge as the clear favourites, commanding 35% and 20% of viewer preferences respectively. This suggests a strong appetite for emotionally driven narratives and high-octane entertainment.

Comedy Holds Steady: Comedy maintains a respectable share at 15%, indicating its enduring appeal as a source of lighthearted entertainment.
Thriller and Reality Shows: Thriller and Reality Shows occupy 12% and 10% respectively, suggesting a healthy interest in suspenseful storylines and engaging real-life scenarios.

Others: The remaining 8% likely encompasses a diverse range of genres like romance, documentaries, and others.

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