Ormax Media Releases Comprehensive Insights on Indian Streaming Market with The Ormax SVOD Audience Report: 2024

Ormax Media, a leading media consulting firm, has unveiled its latest research on the Indian streaming landscape, titled The Ormax SVOD Audience Report: 2024. This report, based on a robust sample of 3,000 SVOD audiences in urban India, is the largest profiling study of paid streaming subscribers in the country. It offers an in-depth look into the preferences, behaviors, and habits of India’s growing subscription-based video-on-demand (SVOD) market.

Key Highlights of the Report
1. Connected TVs Transforming OTT Landscape
Influence of Connected TVs: 36% of SVOD audiences in urban India now use Connected TV devices to watch streaming videos regularly.
Rise of Co-Viewing: 66% of Connected TV users consume streaming content with their families, driving a demand for inclusive and family-oriented content that caters to diverse life stages.
Beyond Metro Cities: Connected TVs are gaining traction in mini-metros and smaller towns, challenging the notion that this is a trend limited to large cities.
2. SVOD Market Stagnation
Decline in SVOD Audience Base: India’s SVOD audience decreased by 2%, from 153.0 million in 2023 to 150.6 million in 2024, indicating challenges in subscriber acquisition and retention.
Digital Video Landscape: India’s digital video audience stands at 547.3 million, of which 28% are SVOD users, while 72% use ad-supported video-on-demand (AVOD) platforms.
3. Comprehensive Analysis of SVOD Audiences
The report provides an exhaustive examination of various aspects influencing the SVOD ecosystem, including:

Viewing behavior
Preferences in language, formats, and genres
Drivers and barriers to subscriber acquisition and retention
Triggers for content sampling
Media habits
4. Strategic Implications for OTT Platforms
Pricing and Content Strategy: With the average subscriber paying for only 2-3 apps, platforms must adopt precise, data-driven approaches to tailor content and marketing to target audiences.
Macro-Level Insights: Ormax’s industry-wide data offers invaluable insights to help platforms refine their business, content, marketing, and product strategies.
Expert Insights
Keerat Grewal, Head of Business Development (Streaming, TV & Brands) at Ormax Media, emphasized the importance of understanding audience behavior in a competitive SVOD market. She noted:

“The growth of Connected TVs can fundamentally alter how and what type of content is consumed on OTT platforms. Our report enables platforms to leverage audience insights to create compelling value propositions that resonate with the target audience.”

The report underscores the critical need for platforms to evolve their strategies, particularly in light of the increasing adoption of Connected TVs and the challenges posed by subscriber stagnation.

Author: Sania Khan