Six Indian Companies among the Top 10 Digital Media Players in FY23: Redseer Strategy Consultants
An Astounding 6 out of the top 10 Digital Platforms in FY23, are Indian Companies: Redseer Strategy Consultants
The Indian digital media landscape is experiencing a monumental shift as homegrown players ascend the ranks. The Indian digital media market has reached. This remarkable growth has been catalyzed by the surge in internet users and their engagement, propelling the market at
In FY23, secured spots in the top 10 rankings of pure-play digital media companies by revenue. These six Indian companies are Dream Sports, Gameskraft, Games24x7, Verse Innovations, Junglee Games and Times Internet.
| Company | Type | Ranking (by revenue in FY23) |
| Alphabet | Global | 1 |
| Meta | Global | 2 |
| Dream Sports | Indian | 3 |
| Gameskraft | Indian | 4 |
| Disney+Hotstar* | Global | 5 |
| Netflix | Global | 6 |
| Games24x7 | Indian | 7 |
| Verse Innovations | Indian | 8 |
| Junglee Games | Indian | 9 |
| Times Internet | Indian | 10 |
* Part of “The Walt Disney Co. | Source (s): Redseer estimates.
The robust performance of the digital media market owes a lot to the Media and Entertainment sector, which itself is a multifaceted arena comprising various segments such as Over-The-Top (OTT) Video Services, Audio Streaming, Shortform Video platforms, and Digital Gaming. Excluding contributions from social media platforms, this sector alone is responsible for injecting an impressive US$~5.5 billion into the overall digital media market ecosystem.
Breaking down these numbers, one finds that a dominant share—approximately 60%—of this contribution comes from the digital gaming sector. This remarkable figure highlights the popularity of gaming sector in India, catering to Indian population with domestic games like rummy and leveraging cricket’s popularity through daily fantasy sports. Also, with the focus on vernacular content and understanding the diversity of languages and cultural nuances across India, game developers are increasingly localizing their products and creating content in native languages. This inclusion of vernacular elements not only aids in broader user engagement but also helps in penetrating untapped markets across different states.
“The focus on ‘For India’ content and strategic alignment with local consumer interests have proven pivotal for domestic digital media companies. With this trajectory, we anticipate further revenue expansion and market dominance for these platforms.” noted Mukesh Kumar, Associate Partner at Redseer Strategy Consultants.
About Redseer Strategy Consultants
Redseer Strategy Consultants is a leading strategy consulting firm that has been at the forefront of shaping the new age business landscape in India for the past 14 years. Redseer’s relentless focus on innovation, deep consumer understanding, and strong entrepreneurial mindset has established it as the #1 advisor for new-age businesses. With a global footprint across 22 cities and 1000+ consultants, Redseer Strategy Consultants expertise spans across the USA, Europe, Latin America, Greater China, and India. Redseer Strategy Consultants has achieved remarkable market share in new-age IPOs and deal advisory services, positioning itself as a leader in the strategy consulting space. The firm’s commitment to innovation has earned it a ranking of #5 in Innovation among Top Consulting Firms in Asia-Pacific by Vault.
