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Tech giants expanded India's video revenues to $8.8 billion in 2023: report

Economic Times · 1y

According to a report by Media Partners Asia (MPA), global tech giants like YouTube, Meta, Netflix, and Amazon have contributed to India's video revenues reaching an estimated $8.8 billion in 2023. Major Indian media companies, including Star India, Viacom18, Zee Entertainment, Sony Pictures, and Sun TV, have reported significant revenue figures as well. The report highlights the need for consolidation through mergers and acquisitions as India's pay-TV market transitions to connected TV. It also emphasizes the importance of extracting value from pay-TV affiliate fees, expanding the SVOD market, and capitalizing on the video advertising market. The fallout of the Sony-Zee agreement is expected to have significant implications for content and distribution businesses in India.