The rise of Indian streaming: A new era for entertainment

Streaming series outshine Bollywood

Indian streaming series like Netflix’s Heeramandi, Prime Video’s Mirzapur, and Disney+ Hotstar’s Bad Cop are rapidly becoming more influential than traditional Bollywood films. This shift is not just a trend but a significant transformation in the entertainment landscape of India.

A booming industry with global implications

India’s vast population and its enthusiastic adoption of video streaming are reshaping the country’s content industries, economy, and international standing. A recent report titled “Beyond Screens – Streaming VoD’s Impact on the Creative Economy” highlights these changes. Commissioned by Prime Video India and conducted by Media Partners Asia, the report reveals that local content investment in India is nearing $6 billion annually, comparable to South Korea.

Investment and growth potential

Despite the impressive figures, annual content investment in India is just $4 per capita, significantly lower than Japan’s $80, Korea’s $120, and the U.S.’s $370. This disparity underscores the enormous growth potential in the Indian market. The report suggests that after a period of aggressive expansion, the focus is now shifting towards more sustainable practices, with SVOD revenues on the rise.

Employment and economic impact

The streaming sector is poised to become a major employer, potentially increasing from 174,000 jobs to between 280,000 and 330,000 by 2028. This growth will also benefit allied industries. Streaming has already surpassed the film industry as a revenue source for production companies, especially during the COVID-19 pandemic when theaters were closed.

The cultural tapestry of Indian originals

Indian streaming platforms have produced over 1,000 original series and movies between 2015 and 2023, serving as global ambassadors of India’s rich cultural tapestry. These originals showcase a diverse range of local stories, appealing to both domestic and international audiences.

Regional diversity in storytelling

Initially, streaming content focused on major metropolitan regions like Maharashtra, Tamil Nadu, Andhra Pradesh, and Telangana. However, there has been a noticeable shift towards stories set in the Hindi heartland and more remote states. Examples include Netflix’s Kohrra set in Punjab, Prime Video’s Dahaad in Rajasthan, and Netflix’s Kaala Paani in the Andaman & Nicobar Islands.

International recognition

Indian content is increasingly gaining international recognition, not just among diaspora audiences but also winning global awards. For instance, 25% of the audience demand for Prime Video’s Indian titles comes from outside India. Throughout 2023, Indian originals consistently featured in global top 10 lists, with Netflix and Prime Video leading the charge.

The rise of Indian talent

Streaming platforms have provided a significant boost to Indian talent, including actors, writers, and directors. Shows like Prime Video’s Inside Edge and Netflix’s Sacred Games have brought Indian fiction to the global stage, earning nominations at prestigious awards like the Emmys.

Opportunities for actors

The flexibility of the streaming format, with multiple episodes and seasons, offers actors ample opportunities to explore their characters. This has benefited both seasoned actors and newcomers, allowing them to gain household popularity. Notable examples include Vijay Verma, Jitendra Kumar, and Vikrant Massey, who have become streaming heroes.

Women in the industry

Streaming platforms have also made concerted efforts to include more women in technical roles and on-screen. The number of women-led shows has increased significantly, creating a positive feedback loop. Shows like Delhi Crime and Maharani are prime examples of this trend.

Challenges and recommendations

Despite the positives, the report highlights several challenges, including the concentration of production in metropolitan areas, aging facilities, and a limited technical talent pool. It recommends that industry stakeholders and governments collaborate to develop policies that incentivize the establishment of new production facilities and address the lack of technical training at the grassroots level.

Tackling piracy

Piracy remains a significant issue, with potential economic losses projected to grow from $1.5 billion in 2023 to $3.3 billion by 2028. Effective anti-piracy measures could unlock value on multiple fronts, encouraging the growth of legal paying customers and driving revenue growth for premium online video services.

A new chapter for Indian entertainment

The rise of Indian streaming platforms marks a new chapter in the country’s entertainment industry. With continued investment, international recognition, and a focus on sustainable growth, Indian content is set to become a major contributor to the global entertainment landscape. This transformation offers a wealth of opportunities for creative talent and promises to reshape the way we consume and appreciate Indian stories.