India’s TV and Digital Market estimated to reach $17 billion by 2028

India's video market, including TV and digital, will grow from $13 billion in 2023 to $17 billion in 2028, according to the Industry 2024 report by Media Partners Asia and Asia Pacific Video and Broadband.

This report provides comprehensive guidance on acquiring and monetizing TV channels, including free-to-air and pay TV, SVOD, premium AVOD and social video/UGC advertising in 14 Asia-Pacific markets.

According to the report, the APAC video industry will grow by 5.5% to reach $145 billion in 2023. This is mainly due to a 13% increase in online video revenue to $57 billion and less revenue from television, down 1% to $98 billion.

He added that the most significant video markets in 2023 are China ($64 billion), Japan ($32 billion), India ($13 billion), Korea ($12 billion) and Australia ($9.5 billion).

Online SVOD grew 15% in 2023, reaching US$28 billion, while AVOD grew 11% to US$29 billion. UGC/social video dominates AVOD, with premium AVOD having a 20% share. Pay-TV subscription fees showed marginal growth in APAC, ex-China, with revenue declines in India and Japan.

MPA projections show APAC video industry revenues will grow at a CAGR of 2.6% between 2023–28, reaching US$165 billion by 2028, with China's matured market reaching US$70 billion by 2028.

As per the report, the APAC online video sector is expected to grow at a 6.7% CAGR to reach US$78.5 billion by 2028, with marginally contracted TV industry revenues. Scaled TV markets like India, Japan, Korea, and Indonesia are expected to grow slower. There remain significant downside risks to TV advertising in Indonesia, India, and Korea.