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Unlocking New Revenue Streams
The Case for Quick Commerce in India's Booming Streaming Market
1/30/20251 min read
Introduction:
India's digital landscape is witnessing a dual surge: a booming streaming industry and the rapid ascent of quick commerce. For streaming platforms, this convergence presents a golden opportunity to enhance user experience and tap into lucrative revenue streams by integrating quick commerce solutions.
The Rise of Streaming in India:
India's Over-The-Top (OTT) market has witnessed remarkable expansion in recent years. As of 2024, the OTT audience in India stands at 547 million users, reflecting a 14% increase from 2023's 481 million, representing a 38% market penetration.
Leading platforms have established significant footholds in this burgeoning market. Disney+ Hotstar leads with a 26% market share, followed by Amazon Prime Video at 23%, and Netflix at 13%.
Viewer Engagement Insights:
Indian viewers are spending more time on streaming platforms, with a significant portion engaging in binge-watching sessions. Evening hours see the highest streaming activity, often coinciding with meal and snack times.
The Quick Commerce Surge in India:
Quick commerce, characterized by ultra-fast delivery services, has transformed consumer expectations in India. The market has grown from a modest $100 million in 2020 to an anticipated $6 billion in sales by 2024.
Projections indicate that India's quick commerce sector will continue its upward trajectory, aiming for a market volume of approximately $9.95 billion by 2029.
Revenue Potential for Streaming Platforms:
By embedding quick commerce into their services, streaming platforms can unlock significant revenue opportunities:
Commission-Based Earnings: Platforms can earn commissions on each transaction made through their integrated quick commerce services.
Advertising Revenue: The surge in quick commerce has led to increased advertising spends, with platforms like Blinkit and Zepto projected to earn over ₹1,000 crore in ad revenue this financial year.
Premium Partnerships: Collaborations with brands for exclusive product launches or promotions can further boost income.
Conclusion:
Integrating quick commerce offers streaming platforms in India a strategic avenue to enhance user engagement and capitalize on a rapidly growing market. By embracing this synergy, platforms can position themselves at the forefront of digital innovation, reaping substantial financial rewards.
