Rise of OTT Platforms in India
OTT media service is a source of media which is offered directly to viewers via the Internet. OTT stands for “Over The Top” referring to any streaming service which delivers content over the internet hence providing television and film content over the internet according to the requests and interests to suit a range of consumers.
The Covid-19 pandemic had a game changing scenario for the media and entertainment industry. Before the pandemic, OTT existed only as the shadow of cineplexes and movie theatres as only a handful of films made exclusively for OTT. Most films were made for the theatres and then released on OTT later on. However, with the Covid restrictions movie theatres and cineplexes were closed hence leading the top film studios towards video-streaming platforms to put their unreleased titles.
India is a country with a population of around 130+ crore and around 65% of its population is below the age of 35, hence it is considered one of the youngest nations in the world. Following such a demography, the obsession and thirst for entertainment in India is huge. OTT industry, over the past decade has come a long way and has definitely disrupted the traditional television and cinematic model which has completely changed the view of people in the way they consume media and entertainment content. As a result, many filmmakers are now releasing their movies on major OTT platforms, instead of waiting for the theatres to re-open.
India has lots of options when we talk about OTT services. Netflix is one of the popular streaming services in India. Netflix faces tough competition with other OTT platforms in India such as Amazon Prime, Hotstar, Voot and Eros Now, etc. Amazon Prime Video is also a very popular video streaming service or OTT service in India. Amazon Prime Video was launched in 2016 in India. Disney+ Hotstar is an Indian OTT streaming service owned by Novi Digital Entertainment, a subsidiary of Disney’s Star India.
India’s over-the-top streaming (OTT) market remains one of the fastest growing markets in the world. The Covid-19 pandemic has definitely affected the businesses and industries across the globe and the media and entertainment industry were no different. This industry mainly relies on advertising spend and on groundwork and hence it was one of the worst affected in the country, staring huge losses. Counter to these horrible experiences was found through the OTT platforms. The most noticeable positive part of this was that the demand for quality and diverse content rose, and accordingly a rise was seen in the subscription increasing the revenues for these platforms. Movie production houses are looking forward to OTT platforms for releasing their films. Some high-profile movies like Gulabo Sitabo, Angrezi Medium, Penguin, etc have seen direct releases on these new platforms. The shift towards digital and quality content is so evident that certain job roles and profiles such as ad executives and marketing consultants have been replaced by copywriters and content strategists. With some of the state governments announcing the opening of movie screens in theatres and malls with social distancing norms, it will be interesting to see how the OTT platforms and the production houses re-strategize their distribution and content models. The Future of OTT in our country is defined by diverse and quality content and if we must summarize it in one word then it would definitely be an Opportunity.
Written by: Maharshi Vidhyarthi (Instagram: @mahi_103)
Vociferous Writers (Instagram: @vociferouswriters)
