OTT platforms and their craze in India
In less period OTT has gained huge momentum in India. The craze for OTT is huge among the youth. Weekends without web series seem dull now. OTT has made a firm grip over the entertainment market.
OTT (over–the–top media services) enables the user to access the streaming media with the internet without involving any setup like cable, broadcast, and satellite television platforms. OTT bypasses the conventional methods and removes the presence of a third person like a controller or distributor of the content.
OTT content is good for both the viewer and the content creator.
- OTT has a larger audience reach. Anyone with a smartphone and Internet connection across the world can access it.
- A content creator can earn direct revenue with OTT platforms it needs not to rely on advertising for income.
- The platform has strong audience targeting opportunities.
- Good content is always appreciated on OTT. OTT provides a platform for the talented and ignored artists. Such artist gets the right attention and appreciation they deserve on OTT platforms.
- A user has various options to choose from. You can watch any genre you like or skip any part or replay it or stop the movies/series and switch to another which is usually not possible in TV shows. You can skip episodes, you can read highlights, you can do anything you like the choice is all yours.
- OTT in India can be seen breaking stereotypes. The white obsession is being challenged here. Only talent matters on it.
- The device independence that OTT platforms offers is a real big advantage. Irrespective of its network carrier it can be watched on any device.
- The viewer gets the chance of exploring different cultures and customs. Even earlier people used to enjoy movies and serials of different countries but the exposure and accessibility OTT provides can’t be compared to others.
- A web series or a movie is a great stress buster. A night with your date and a good movie and popcorn nothing can be more relaxing.
- It makes your thought process better and creative. Not everything can be learned from schools or books a few things that we learn are from observing and watching. OTT can be a great myth-buster and they can make you rethink about yourself and your norms.
The entertainment industry in India is revolutionizing. Currently, there are over 40 providers of OTT in India and the OTT market has a worth of $171.36 billion and it is still expanding and hopefully it will expand to $1,039.03 billion by 2027, at a CAGR of 29.4%.
The first OTT platform in India was BIGFlix. BIGFlix launched in 2008 was a reliance entertainment-owned movie on-demand service. After it nexGTv, India’s first OTT mobile app was launched in 2010.
The rise in OTT platforms started with Hotstar. Nowadays, Disney+Hotstar has the largest number of subscribers in India’s OTT market.
Netflix entered India in January 2016 and since then craze for Netflix shows is clearly visible to all but it faces tough competition from Amazon Prime and Disney+ Hotstar due to their lower subscription charges.
The OTT market is promising in India and it is expected to grow 45 percent to reach ₹138 billion by the end of fiscal 2023.
The biggest faces of OTT nowadays are Netflix, Amazon Prime, Sony LIV, Eros Now, ZEE5, Disney+ Hotstar, ALT Balaji, BigFlix, and Viu.
Even the most searched shows in google 2020 include web series or shows available on OTT platforms including Money Heist, Scam 1992: The Harshad Mehta Story, Bigg Boss 14, Mirzapur 2, Paatal Lok, Sex Education, Breathe: Into the Shadows, Dark, Bandish Bandits, and Special Ops.
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