Mumbai: India’s subscription video-on-demand (SVOD) market entered 2026 in a state of intense competitive flux. According to JustWatch’s Q1 2026 Streaming Charts report — based on measured user interest across its platform in India from January 1 to March 31, 2026 — the top four platforms are separated by just six percentage points, a compression that underscores how fiercely audiences are being fought over.
Amazon Prime Video leads the market with a 23% share, followed closely by Netflix at 22%, JioHotstar at 19%, and Apple TV+ at 17%. The remaining 19% is shared among ZEE5 (9%), other services (6%), and Sony LIV (4%).
Q1 2026: A Market at the Tipping Point
The headline story of Q1 2026 is Netflix’s momentum. Having trailed Prime Video by seven percentage points at the end of 2025, the platform has surged four points in a single quarter, narrowing the gap to just one point. With consistent month-on-month growth across January, February, and March, Netflix appears to be benefiting from a strong content slate and deepening penetration in India’s urban markets.
Prime Video, while still the market leader, showed a modest softening of two percentage points compared to its Q4 2025 position. The platform’s hold on the top rank remains firm, but the narrowing lead signals that its dominance can no longer be taken for granted.
JioHotstar, the merged entity formed from the combination of JioCinema and Disney+ Hotstar in February 2025, held third place at 19% — a two-point decline quarter-on-quarter. Despite the dip, the platform’s Jio telecom bundling and cricket streaming rights continue to provide a durable audience base, particularly in tier-2 and tier-3 cities.
Apple TV+ maintained its 17% share, holding steady after strong annual growth in 2025. The platform’s premium global originals strategy continues to resonate with India’s aspirational urban subscriber base, even as it competes against platforms with far broader content libraries.
Q4 2025 vs Q1 2026: Platform-by-Platform Comparison
Source: JustWatch Streaming Charts, India. Figures rounded to nearest whole percentage point.
Monthly Momentum: How the Quarter Unfolded
The within-quarter data adds further texture to the overall picture. Netflix was the only major platform to post consistent month-on-month share gains across all three months of the quarter, ending March as the platform with the clearest upward trajectory heading into Q2.
Apple TV+ recorded a minor dip in February before recovering in March, suggesting some volatility in its audience engagement mid-quarter. Sony LIV showed a similar pattern, dipping before partially recovering by the quarter’s end.
The ‘Other’ category — comprising smaller and niche streaming services — grew notably in March, closing the quarter at 6% versus 5% in Q4 2025. While individually modest, the collective growth of fringe platforms hints at audience experimentation beyond the established players.
The Big Picture: A Four-Way Race
India’s streaming market is increasingly defined by a tightly clustered group of four international and semi-international platforms. Prime Video, Netflix, JioHotstar, and Apple TV+ collectively account for 81% of measured user interest — a concentration that leaves limited room for the domestic players.
For ZEE5 and Sony LIV, the data presents a sobering reading. Both platforms have held broadly flat or declined against the backdrop of aggressive content investment from global streamers. Their combined share of 13% in Q1 2026, down from 14% in Q4 2025, suggests continued pressure on domestic SVOD incumbents.
Methodology note: JustWatch calculates SVOD market shares based on user engagement on its website, TV, and mobile apps. Interest is measured through watchlist additions, clicks to streaming services, filtering activity, and titles marked as ‘seen’. Data covers interactions from approximately 16 million Indian JustWatch users.
