MUMBAI: Media consulting firm Ormax Media has announced the release of its latest research report on the Indian streaming market, titled The Ormax SVOD Audience Report: 2024. Based on research conducted across a sample of 3,000 SVOD audiences in urban India, this report represents a profiling study of paid streaming subscribers.
As per Ormax’s OTT Report released in August this year, India’s digital video audience universe stands at 547.3 Million, of which 28% are SVOD audience while the remaining (72%) were AVOD audience. The SVOD audience base has shown a 2% decline, dropping from 153.0 Million in 2023 to 150.6 Million in 2024. This stagnation is reflective of the challenge SVOD platforms face in the Indian market, with subscriber acquisition and retention becoming harder to deliver. The Ormax SVOD Audience Report: 2024 is a deep-dive of Indian SVOD audiences, on aspects such as viewing behaviour, language, formats and genres, customer acquisition and retention drivers and barriers, content sampling triggers, media habits. The report is now available for subscription for streaming platforms, brands and content producers.
One of the key insights from the report is the rising influence of Connected TVs in India’s OTT landscape. As per the report, 36% of SVOD audiences in Urban India are regularly using connected TV devices to watch streaming videos. As a result, there has also been an increase in co-viewing of streaming content among SVOD audience, which has implications on content and marketing strategies of OTT platforms in India. 66% of Connected TV audience watch streaming content with other members of their families, making inclusive content catering to different life-stages a critical success factor for the Indian SVOD market in the times to come.
Keerat Grewal, Head: Business Development (Streaming, TV and Brands), Ormax Media, said, “In a cluttered marketplace where a typical SVOD subscriber will pay for only 2-3 apps, it is imperative that pay OTT platforms base their pricing, content and marketing strategies based on their target audience’s behaviour and taste. While platforms have access to data of their own subscribers, Ormax has been consistently working on building industry-wide data for the OTT category in India. Our latest report on SVOD audience enables platforms to look at their target group at a macro level, through insights that can be leveraged by business, content, marketing and product teams, towards created more compelling value propositions for the audience”.
Speaking about the growing influence of Connected TVs, she said, “Contrary to popular perception, penetration of Connected TV is not a trend limited to the metro cities, and is finding traction in mini metros and small towns too. In a category that’s been watched primarily on the smartphone over the last few years, the growth of Connected TV can fundamentally alter how and what type of content is consumed on OTT in India, an area the report underlines using audience insights”.
