Thursday, May 26, 2022

Cricket streaming makes Hotstar OTT Market leader in India

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Hotstar, Star India-owned OTT players with global streaming and concurrent viewership records, has reportedly accounted for a majority 45.88% market share as India’s leading digital streaming platform.

Hotstar has the highest market share of 45.88 per cent as of March 2019, news website has reported referring the findings to an Install Metrics report. Another report by Data Intelligence Management Platform KalaGato, Times Internet-led MX Player with 41.4% reach market share is placed second behind Hotstar.

“Combined with quality content, Hotstar’s investment in cricket streaming rights has helped it garner tremendous market share,” the website had quoted KalaGato chief business officer Aman Kumar as saying.

“MX Player was originally a popular video player app that Times Internet bought in early 2018 and turned into an online streaming platform. This allowed it to enter the market with a large download base that had already installed the app,” adds

Also Read: World Cup 2019: India fails in chase, but semi-final top scores on Hotstar

Reliance Jio’s OTT service app Jio TV has increased its reach by install gradually since last year and now has 34.08% reach market share. International players Amazon Prime Video and Netflix too have increased their reach market share significantly with 17.06% and 10.37%.

According to a report by global accounting firm PricewaterhouseCoopers (PwC), India’s video streaming industry is all set to grow at a CAGR of 21.82 per cent to reach ₹11,977 crore by 2023. The reports suggests that the OTT video industry in India will record the highest growth rate among all segments and drive evolution over the next four years in the overall media and entertainment industry.

Hotstar has concurrent global record for concurrent viewership 24.5 million concurrent viewers during the India-New Zealand semi-final in the recently-concluded ICC World Cup 2019.

Also Read: Yuvraj Singh pads up as ‘corporate’ for a Hotstar special

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