Indian Streaming Platforms' Original Series Reached a Three-year Low

The number of original series released in India by streaming platforms has reached a three-year low, according to data from media and entertainment research and consulting firm Ormax Media.

According to the media and entertainment research firm's recent report, Supply Trends Indian Streaming Originals in 2024, the number of originals released by streamers (mostly in Hindi) fell from 337 in 2021 to 315 in 2024. Interestingly, over the last six years, the number of originals released by streamers peaked in 2023 at 383.

When compared to the previous year, the drop in original film releases in India is even more pronounced. Between 2023 and 2024, there was an 18% drop in the number of originals released by Indian streamers.

Ameya Naik, producer and founder of Fantasy Films stated, "The drop in originals released by streamers in India in 2024 is largely due to economics. Today, an original web series can take a year to create. Then there are costs and time constraints. Streamers would benefit from selectively purchasing more films rather than investing in original content.

According to trade analysts, there are currently over 250 mid-budgets that have been made but have yet to secure deals with streamers.

According to Ormax Media's research, "The 18% drop in supply in 2024 can be attributed to a reduction in the number of originals on Prime Video, Ullu, Hoichoi, and ALTT (drop of more than 10 originals), followed by ZEE5, Disney+ Hotstar, Aha, Addatimes, and Discovery+ (drop of 5-9 originals)." Amazon MX Player and Sony LIV launched more originals in 2024 than in 2023, while Netflix and JioCinema maintained their 2023 count.

According to Ormax Media research, Hindi remains the most popular language for original content released by streamers. In 2024, it accounted for 65% of all originals released by top streamers to Indian subscribers. According to the research, Bengali has the highest number of originals after Hindi.

Ormax Media's research considers four storytelling formats produced by India's streaming platforms. These categories include fiction series, direct-to-OTT films, reality shows, and documentaries.

Since 2022, fiction web series have emerged as the dominant storytelling format. According to the findings, streamers produced 70% of their content in the form of fiction web series. In 2024, 214 of the 315 originals released by streamers were fiction webseries. In 2023, there were 272 fiction web series out of 383 total originals. This means that between 2023 and 2024, the number of original fiction web series released by Indian streamers decreased by 21%.

According to the Ormax Media research, streamers in India focused primarily on Hindi-language fiction series. It was observed that ZEE5 prioritized the format over web series and had a strategy of releasing the most direct-to-OTT films in India. In contrast, the study discovered that streaming services such as JioCinema, Netflix, and Prime Video offered a variety of content, including documentaries, reality shows, fiction series, and direct-to-OTT movies.