India’s Digital TV Revenue Hits $13 Billion, Expected To Reach $17 By 2028
Revenue generated by India”s digital video industry reached 13 billion US dollars, surpassing Korea and Australia. Now, China and Japan are the only countries which have reported more than India in the Asia Pacific region. Furthermore, according to reports by Media Partners Asia (MPA), a provider of advisory, consulting and research services, focusing on media and telecoms in Asia Pacific, India’s revenue in the digital video landscape is projected to grow to $17 billion by 2028.
According to the report, the Asia-Pacific region’s video sector has grown 5.5 % in 2023, increasing online video sales by 13%. But the revenue from the Television grew less than 1%.
The report, which provides comprehensive details about the digital video sector, shows that the online subscription video-on-demand rose to 15 % in 2023, while the advertising video-on-demand pie grew 11%, excluding China. User-generated content and social media video dominated the advertising video-on-demand category, with 80% of the total content. The premium advertising video-on-demand pie reported a 20% share.
However, Pay-TV saw revenue decline in markets such as India and Japan, while Pay-TV advertising grew in India.
China, however, is projected to grow at 1.7% to reach 70 billion US dollars by 2028, after Japan ($35 billion), India ($17 billion), Korea ($14 billion), Australia ($11 billion) and Indonesia (close to $4 billion).
The Asia-Pacific region’s online video segment is expected to reach 6.7%, accumulating $78.5 billion in value by 2028. Talking about the shift from TV to online, MPA managing and executive director Vivek Couto said: “The Asia Pacific video industry continues to experience a secular shift from TV to online in terms of engagement and monetization.”
“The online video sector is also starting to rationalize with price increases in the SVoD category along with disciplined content and marketing investment, the introduction of ad tiers, new strategies to drive monetization and the start of local market consolidation in Korea, Japan and India,” Couto added.
