December 09, 2020

The Rise and Prospects of OTT Platforms in India

Over the past few decades, contemporary literature has addressed the emerging factor influencing the new economy of the over-the-top in India. In the last few years, a chunk of the digitally sophisticated audience has shifted its interest to new-age OTT platforms as a source of entertainment. 


    What is OTT?

    OTT platforms


    OTT means over the top it also means that without satellite and cable operators watching movies and television content directly to the audience on high-speed internet.
    It has gained public attention within a short period it has a wide variety of ranging from movies, tv serials, live sports 

    It is one of the fastest-growing networks in India. It has grown its viewership more during April as compared to January. For India, the highest consumed platform is YouTube followed by Hotstar and many other local players like Voot, zee5, Jio tv

    In the line with global trends, Indian consumers are increasingly consuming the content on digital platforms, rather than spending time on television content.

    History Of OTT Platforms:-

    Over the past few years, OTT platforms have been clamoring to get market share in one of the fertile grounds to be in India. Unlike other countries, India is growing with the viewership on the OTT(Over The Top) immensely.

    But it all started with the first dependent Indian OTT platform Big Flix. Big Flix was launched by Reliance in the year 2008 but it was not impactful. After years passed, in 2013 Ditto T.V.(Now known as Zee) and Sony Liv was launched which got a good response. It was a time when data had a high price and there was no subscription to any OTT platforms. Thus many of the audience could not afford to watch online. 

    Many other OTT platforms were also rising like Youtube, Hotstar, Amazon Prime, and many more by the year 2015. By the time people were aware of watching TV serials online. And then there was an entry of Reliance Jio which changed India from a lack of internet usage to most users of the internet in the world.

    The Rise Of OTT Platforms in India:-

    Increasing viewership of OTT


    The rise of Over The Top (OTT) platforms in India like Prime videos, Hotstar, Netflix, and many more have allowed the audience to view the diverse content from all around the world and experience the new genres.

    India has shown a tremendous increase and has seen a significant jump from traditional media to new media. Digital content was considered an abstract idea five or six years ago, it no longer is
    For India, the highest consumed platform is Youtube followed by Hotstar and many other local players like Voot, zee5, and Jio tv.

    In the line with global trends, Indian consumers are increasingly consuming content on digital platforms.

    The Indian market has responded to domestic and foreign OTT platforms with open arms, cheap internet connections, and easy access to digital devices.

    The OTT industry in India is open for competition right now. Many local players have established their audience. There are clear front runners who have the money to create quality content and market their platforms to the right audience. While some have a different approach to getting their target audience. 

    The Rising Wave of the Indian OTT Market:-

    The Rise of OTT platforms was when data(internet) was cheap, this was all possible due to Reliance Jio entering the market in the year 2016. Jio gave unlimited data(internet), due to which there was a lot of usage of the internet and due to which OTT platforms were growing.

    People got more attracted towards digital platforms by the year 2016 be it watching cricket on Hotstar or watching movies and web series on various other ott platforms like Netflix, Prime, Hotstar, and many more.

    From the year when data was the cheap rise, OTT platforms were rising tremendously. Ott was also rising because of its original content shows. 

    How do OTT Platforms make money?

    how do ott generate revenue


    OTT has to buy the rights to the movie for release or streaming on their respective platforms. The process is that the respective OTT platform gives a fixed amount to the filmmakers and the producers make the film for less than that and the remaining is the profit of the OTT platform.

    They also generate revenue from subscriptions that they take from their audience, by which they can produce their own shows or movies, or web series and present them on their own platforms.

    Opportunity To Talent (OTT):-

    OTT has given underrated actors unforgettable characters. Standing in support and providing an equal platform and opportunity to showcase the talent irrespective of their background. Letting on work and talent of the actor shine.

    For many well-known actors who didn't have work in past years, OTT has given them chance on their talent. The common man got a job due to these platforms. 

    The emergence of OTT during Covid Pandemic:-

    OTT platforms during covid pandemic


    With Covid-19 in the picture, the OTT platforms have witnessed a massive boost in terms of increased viewership, new subscribers and more audiences are flocking towards on-the-go content, much differently, be it music, video, and podcast consumption. During this pandemic, OTT platforms have gained more subscriptions than in past years. 

    In the extended lockdowns and the current state of the economy, OTT seems to be the next normal for the world of entertainment. The ongoing Covid-19 has impacted several industries across the world however, one of the most hit industries is the film and television industry.

    A good step taken by OTT Platforms for age restrictions:-

    More than 15 OTT streaming and digital content players in India including Netflix, Amazon Prime, Disney plus Hotstar, Zee5, and others have agreed to adopt the Universal Self-Regulation code for online curated content providers in India.

    As a part of the code, each signatory platform will have to set up a framework for age classification and description for each title access control this move will give the users more choice and control over the content they prefer to watch.

    Is one OTT platform enough for the Indian viewers?

    Ott platform | digital platform


    One OTT platform is simply not enough for Indian viewers.
    Because Indians are so hungry for online video content that they are lapping everything available.

    There is various content on each platform. So the viewer will not rely only on one platform.

    For example, Netflix content can't be seen on Hotstar and vice versa.

    Conclusion:-

    The media and entertainment industry witnessed a rapid change in the current year with disruptions due to technological advances and cheap data and mobile penetration. 

    OTT engagement is expected to grow steadily in the years to come. The Indian market has a huge potential to be one of Asia's biggest media and entertainment markets.

    Thus it is safe to say that the OTTs have revolutionized the entertainment industry and with their steadily growing potential they will continue to keep us glued to our screens.

    So to conclude, the Indian OTT industry still holds many opportunities, yet to be explored. With growing access to mobile data and internet-based services in the rural parts of the country, the no of users and subscribers is set to be on the rise.

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