The Future of OTT Streaming Platforms in India: Gone for the days when we had to wait for movies to be released in the Cinema Halls and IMAX or waiting entire week to watch your favorite television shows. Over the top (OTT) streaming platforms such as Amazon Prime Video, Netflix, Disney+ Hotstar, ZEE5 along with local players such as Voot, Eros Now, SonyLIV, Aha Video, Alt Balaji, Sun NXT, Hoichoi, Ullu, MX Player among others have redefined the way Indian audience witness the latest regional movies and content.
The Future of OTT Streaming Platforms in India 2021-22
With the COVID-19 pandemic, most of the people are stuck to their homes and totally indulged in watching movies and entertainment programs. In order to serve people with entertainment and new content, OTT platforms have come up with a big lineup of movies and web series during the last 1 year. Moreover, With Covid-19 in the picture, the digital streaming platforms have witnessed a massive boost in terms of increased viewerships, new subscribers and newer audiences are flocking towards on-the-go content, much differently, be it music, video and podcast consumption.
Covid-19 impact: The rise of OTT platforms
The growth for OTT in India during the COVID-19 pandemic is mainly due to of the increased speed in broadband and increased smartphone penetration. With people, spending more time on their phones and laptops, these OTT platforms have become a more engraved part of our lives.
The market for OTT platforms in India has shown steady growth from a two-player market in 2012 to a more versatile market with more than 40 OTT providers currently, and with an unending scope for many more. Today, India enjoys services from over 40 OTT providers including domestic and international players like Netflix, Amazon Prime, Disney+ Hotstar, Zee5 and Eros Now.
Direct Release of Movies
Reports suggest that Cinema and Cricket rule the hearts of Indian OTT viewers. The release of big star movies like Amitabh Bachhan starrer Gulabo Sitabo, Vidhya Balan starrer Shakuntala Devi, Late Sushant Singh Rajput starrer, Dil Bechara on platforms like Amazon Prime and Disney + Hotstar have triggered a new trend in Bollywood. Similarly, Jyothika’s Ponmagal Vandhal, Nani’s V and Anushka’s Nishabdam are the first big budget movies in South India to begun this trend.
Key Reasons for OTT Growth in India
The number of hours spent by consumers on OTT platforms during the lockdown might not be sustainable in the near future, but the shift is very much permanent.
- High bandwidth internet
- Low mobile data tariffs
- Best available smartphones
- Latest technologies
- Pandemic and Less Working Hours
The Future of OTT Streaming Platforms in India
The OTT industry looks promising with a lot of new Apps, both local as well as international companies trying to come up with innovative ways to attract new users and retain existing users on the platform, and are creating an immersive experience with the integration of AR/VR technology; new business models; new content strategy, where influencers are turning into OTT content creators and more. So, the predictions about the future of the OTT industry in India is impressive.
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