OTT video platforms, which were formerly regarded an extravagance, are now a necessity. In India, a large number of consumers are adjusting to it. While local streaming services such as Hotstar and Jio Cinema have grown in popularity, international brands such as Netflix and Amazon Prime have progressively experienced rapid growth in India. Through an experimental analysis, this essay investigates the inception, advantages, and prospects of streaming services in India. The numerous OTT services, their growth factors, technological foundation, consumer demographics, contents, regulation, and predicted future changes in the business are also presented in this article. OTT, services, development, infrastructure, strategy, innovation, management, and market are some of the terms that come to mind when thinking about OTT.
OTT platforms in India are fast expanding in regards of viewership, responding to a plethora of variables. Digital India is a driving force behind the adoption of OTT platforms to stream a wide range of material from across the world. The surge in viewing of OTT streaming services such as Netflix, YouTube, and others has been attributed to a youth-oriented population. Cellphone and telecom broadband prices have been dropping, allowing a substantial section of the population to use internet platforms. India now has over 220-2.5 billion mobile phone users, with 500 million predicted by 2020.
Competing from HBO, CBS, Amazon Prime Video, Netflix, and other OTT platforms has been one of the key issues that OTT platforms confront in advanced countries.
The manufacturing costs associated with catering to specific consumers are likewise significant. To increase subscriptions and promote customer engagement, you need entertaining content. Moreover, the marketplace in wealthy nations such as the United States is concentrated, resulting in high marketing expenses to increase audience.
Conventional broadcast networks have launched OTT platforms like Voot, Sony Liv, and Zee 5 to stay in the spotlight and accommodate to the movement in viewership from television to OTT platforms. Nevertheless, the majority of their programming on these channels is identical to that which is presented on television.
The business plan of OTT platforms would cover subscription numbers with paid advertising. The majority of their earnings would come from adverts.
“Netflix is positioning itself as to how in terms of video content Netflix is the thing to do. Others are using content marketing strategy to show their exclusive content as differentiator against others. But they end up looking similar to each other. Netflix and Amazon are standouts as they know how to market themselves and are able to bring in content outside TV. Hotstar is riding on cricket in a big way.” Said Rajiv Dingra, Founder-CEO, WAT Consult.
In India, there are now more than 30 OTT providers in multiple languages that represent specific populations based on the conditions they offer. Regional programming accounts for 40% of OTT service consumption.
How Youth are driving the elevation of the OTT platforms in India
The primary audience for big OTT platforms would primarily be “millennials,” or people between the ages of 18 and 35. This figure, on the other hand, is substantially contrasted due to the “ Make in india ” digital programme, a spike in the size of smartphone and data subscribers, and also as a result of globalisation, which has increased public awareness. There has also been a dramatic change in viewing in India, with the volume of Indian consumers average annual growth rate of 4-8 percent, thanks to major network operators like Jio lowering data charges. This involves ensuring that rural Population has an immense opportunity to connect to such networks on a wide scale, rendering rural areas a platform’s successfully develop.
OTT platforms in India produced Rs. 2019 crore in 2019, with this figure predicted to rise to Rs. 5595 crore by 2022. As per the recent EY-FICCI Indian Media & Entertainment Report, streaming subscription platforms surpassed cinema entertainment to become the third-largest Indian Media & Entertainment sector in 2019.
While most OTT platforms first arrived in India, they mostly offered catch-up shows. Users now have access to a vast array of new material thanks to the advent of multinational companies like Netflix and Amazon Prime Video. Thus according to a data from a mobile advertising and Internet service provider, Hotstar is currently India’s most popular OTT platform. However, according to my judgement, Netflix will become the leading company amongst millennial generation in the medium and long term because it is a massive worldwide company that arrived In india with a bang, owing to the youth’s fascination with american civilisation.
Netflix also intends to enter the Indian market by conducting new Indian content, and that may be a very rewarding strategy.
Sacred Games and Ghoul, for example, already have inspired viewers demanding more out of India. Netflix also had announced that doing so will test adverts for its quality content somewhere between episodes, which will significantly enhance its profitability. Finally, there seems to be a “wow” component to using Netflix, which Voot and Alt Balaji still do not have. Furthermore, thanks to the substance that these platforms have already been producing, they are gaining greater traction.
In July of this year, commerce and industry minister Piyush Goyal encouraged the media industry to consciously self-regulate its material, highlighting the dismal representation of India. The tremendous surge in popularity and engagement of OTT platforms such as Netflix, Prime Video, and Hotstar, among others. Since we all realize, the Government of india is strong on political censorship – from prohibiting cow to their blatant distaste of Affection and lovers lingering out on Valentine’s Day, it’s clear that whatever they don’t like is banned in the name of “interest of the public.” As a result, the ministry may try to rationalise existing rules in order to deal with “disagreeable materials,” but this is insufficient.
The Cinematographic Act of 1952 established the Central Board of Film Certification (Censor Board). The Act, coupled with Rules (1983) and Guidelines (1991), established the procedure for the Censor Board to certify films. The act thus states that “a film shall not be certified for public exhibition if, in the opinion of the authority competent to grant the certificate, the film or any part of it is against the interests of, inter alia, decency.” The requirements also said that the accreditation must allow for creative expression and artistic freedom, as well as be adaptable to cultural progress.
The Indian audience that appreciates uncensored content is particularly concerned about content restrictions on OTT platforms, primarily because they really do not want saas-bahu serials on these platforms, and they are seeking for fantastic content, which, let’s face it, these serials will never be. This decision appears to have displeased the viewers, yet we all hope that Platforms will come up with a way to distribute their material without needing to go through another extensive filtering procedures.
How the Covid19 Pandemic boosted the growth of OTT platforms in India
Whereas the population remained quarantined in their houses mostly during COVID-19 lockdown, the bulk of the public believed that having connectivity to the OTT world was a lifesaver during the constrained circumstances.
These ‘Over-the-Top’ platforms are undoubtedly one of the factors responsible why people of all backgrounds and ethnicities have been able to preserve their serenity and live in peace with those around them.
With the development of internet and rising smartphone usage, the roots of OTT expansion were sown well in advanced. People, particularly those in the workforce, are investing more time on their phones and laptops, therefore these OTT platforms have become much more ingrained in our lifestyles. The convenience of viewing from anywhere and at any time meets the demands of a digitized customer’s incredibly quickly lifestyle.
The industry has steadily grown from a two-player market in 2012 towards a more competitive economy with over 40 participants now, and plenty of room for so many more. The telecommunications corporations’ combining of Operator with unlimited data has greatly aided in growing the accessibility and exposure of OTT platforms in India.
The OTT industry’s expansion may result in the DTH industry’s degrowth. For a DTH user, OTT is a superior option because there’s more to supply. The OTT industry could have an adverse influence on broadcasters. These OTT platforms have already attracted individuals who favor the large screen to their mobile phones and tablets.
For a while after the restoration of new material on General Entertainment Channels (GEC), it’s likely that OTT platform viewership will remain in the shape of catch-up TV.
Consumers benefit from OTT because of the variety of material available, multi-screen play, material accessible at any time and location, and a high level of personalization. In today’s fast-paced society, where everyone wants everything right now, OTT has become a luxury.
The customer’s acceptance or technological transition seems to be the only hindrance to the emergence of the OTT platforms in India. The outbreak, on the other hand, has worked as an accelerator. While the amount of time spent on OTT platforms by customers during the shutdown may not be consistent in the immediate future, the transition is irreversible.
In the aftermath of the outbreak, these OTT platforms saw a massive increase in activity, and few people are likely to return to their previous habits.
Which Factors are driving the growth of the OTT platforms in India
At the moment, consumers are distributed equally amongst metropolitan areas and also the rest of the marketplaces, but non-metropolitan, moderately, and domestic consumers will dominate the economy.
Participants in virtually every consumer-based business have realised the necessity of customizing and ministering to the target consumers in India’s Tier-II and Tier-III cities, thanks to the increase including almost every consumer-based business. Understanding how to penetrate these sectors has now become increasingly important, as these sections have multiple users preferences than India’s metro areas.
Because India is a heaping teaspoon, price-sensitive marketplace, proper localization of content must be accompanied by inventive membership packaging. OTT platforms must transition away from a one-size-fits-all subscriptions strategy and toward a more heterogeneous subscriptions strategy that accommodates to people of various financial categories.
How Digitization is helping in the growth of OTT platforms in India
Theatre venues across the country have been asked to close since March 23, 2020, when the lockdown was initially implemented in the country.
While single-screen and multiplex operators fought tooth and nail to open its borders, Over The Top (OTT) competitors grinned from ear to ear with each new film that came their way for streaming. Furthermore, the lack of new programming on GEC encouraged consumers to OTT channels.
Renowned OTT platforms were spotted applauding their celebrities for allowing them to make decent profits by garnering strong audience on OTT and obtaining ready-to-release feature movies at reasonable prices.
However, these were unique circumstances, other OTT providers may not have been able to secure high dollar blockbusters as effortlessly for a digital first premiere at the affordable pricing they could afford. Digital first doesn’t sound appealing to a production studio that can assume a large box office success from a cinematic release. The South Indian film industry avoided going digital first and instead opted for a later release date.
Nonetheless, the demand for distinct media may drive platforms to purchase Digital Only/Digital First material in the long term, and the tendency may persist.
Conclusion
In a nutshell, the landscape of over-the-top (OTT) streaming appears to be brighter than it has ever been. The epidemic provided a fuel for the industry in terms pre-existing prosperity, because now there is no turning back now.
