The IPL final had a viewership of 18.3 million at one point
Disney (DIS) inherited a key asset when it completed its acquisition of 21st Century Fox’s assets. The media giant now owns Hotstar, which is still by far the leading over-the-top (or OTT) streaming service in India, ahead of Netflix. At one point, Hotstar had 18.6 million viewers simultaneously watching the final game of this year’s IPL (Indian Premier League) season, according to Tech Crunch, which was a global record for live viewership. The previous record was 12.7 million during the first match of this year’s IPL.
Hotstar also has rights to the upcoming Cricket World Cup, which is likely to have similar viewership, if not better. Hotstar also has the right to the English Premier League, which is also popular in the country, especially among the younger population.
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Hotstar has an impressive library of content
Apart from this, Hotstar also gives Indians access to a library of Disney and Fox movies and shows, along with a plethora of local content. Game of Throne fans in India also got access to the show through Hotstar.
Hotstar now has an impressive 300 million monthly active users, doubling from last year. However, a small chunk of those are paying subscribers. Also, according to Tech Crunch’s report, Hotstar is far from breaking even.
India’s OTT market is expected to grow at 22.6% on a CAGR (compounded annual growth rate) basis until 2022, reaching $823 million, according to a report by PWC.