The Indian Video Entertainment market witnessed another year of healthy recovery, with market spend reaching INR 757.9 billion, mainly supported by the growth of Box Office, SVoD, and Digital Transactional segment. For SVoD, consumer revenue grew by 18%, however, subscriptions experienced a decline in 2023 with consumers transitioning to AVoD service of JioCinema as it offered free viewing of IPL matches. Box Office revenues surpassed pre-pandemic levels, marking INR 122.6 billion helped by the rise in average ticket price by 9.2%.
Pay TV remains a robust part of the market, but in terms of households, it is declining every year. However, after two consecutive years of revenue drop, it grew by 2.5% in 2023, thanks to NTO 3.0, enabling broadcasters to increase prices. Transactional still represents a very small part of the market but has seen double-digit growth thanks to the launch of Amazon and its strong promotional activities.