OTTs - an alternative to movie halls!!

Digital content consumption is rapidly growing as a result of easy access to smart devices and affordable mobile data plans. With this there is rapid growth of the OTT players and has disrupted the world of entertainment.

OTT stands for “over-the-top,” as in going above and beyond streaming cable networks or YouTube. OTT platforms are cost-effective, these OTT platforms have emerged as an important alternative for visiting a movie hall during the pandemic by becoming their primary source of revenue and audience — are not buying them anymore without a theatrical release first.

According to an Eros Now-KPMG report, an OTT viewer in India spends approximately 70 minutes per day on video streaming platforms, with a consumption frequency of 12.5 times a week! In India we have various OTT services available as an option and they are Netflix, Amazon Prime Video, Disney+ Hotstar, ALTBalaji, Zee 5, Aha, Voot, SonyLIV, Viu, Hoichoi, etc are some of the prominent OTT providers.

As per reports, OTT players are not buying most of the films which are being offered to them for direct release, instead asking producers to release them in theaters first.

Media & entertainment is one of the fastest-growing industries in India. There were over 45 million OTT subscribers in India in 2022 and this figure is expected to reach 50 million by the end of 2023 and the market is set to become a Rs 12,000-crore industry by 2023.

An expert says, we encourage our producers to take their film to the theatres first, and then to OTTs. It shows that the producers have confidence in the content. Also, it helps the overall marketing of a film.

There are challenges faced by OTT platforms, Security and privacy are the two most pressing issues for OTT platforms. User information saved on their platforms during sign-in or search history should not be exploited for illegal purposes.

Dr. Deepak Kumar Sahu, Editor-in-chief- VARINDIA