OTT or Over-the-top platforms have emerged as the one-stop destination for movie buffs. The platforms that has given the meaning to the word “binge-watch” is catering to the world’s largest country of young population. The credit goes to fresh and diverse content from across the globe but specially also catering to local language needs. With an everyday growing audience, OTT platforms have been ranked the third-largest Indian media & entertainment sector in 2019 by EY-FICCI Indian Media and Entertainment Report.
Today Indian youth are addicted to watching personalized content with streaming services available 24*7. Its on-the-go service has made entertainment easy, accessible, and convenient especially for smartphone users. The affordable internet service and the multiple screen-sharing option in one account have further propelled the growth of the sector. A lot of favourable factors come into play when it comes to digital streaming. These include availability of different genres, the option of personalizing list as per the liking, everyday suggestions on top watched content, access to premium quality streaming, etc.
The traditional shows aired on TV channels do not seem to attract Indian youth; they fail to deliver engaging content for the younger on the go audiences. However, OTT platforms like Netflix, Amazon Prime Video, Disney Hotstar, and Voot are providing content that is more relatable, real in nature, and thought-provoking to the audience. One of the reasons for better content is that they allows room for experiments, the credit to which can be attributed to the wider reach, story-telling formats, as well as lower production investments. Even though there are wide varieties of global contents available on these platforms, the Indian origin content catches the most viewers. Most of the Indian content seems to be based around the crime, thriller, and horror genres.
During the distress times of Covid-19, while one cannot visit cinema halls due to the fear of transmission, video streaming is bringing the world home with multiple content options. It has given a sudden rise to OTT consumption, as millions of people have been rendered unproductive at home and left with minimal outdoor entertainment options. According to numbers disclosed by India’s leading OTT platform, there have been an average of 17,000 new subscribers each day during the lockdown, a 60% increase from the average of mere 10,600 per day in March before the lockdown. Similarly, other OTT players like Amazon Prime and Netflix have witnessed 67% and 65% subscriptions growth, respectively.
(Edited by Monica P Singhal)