Introduction
The younger generations and quite a significant part of the older crowd too are hooked to their favorite shows and movies on Netflix, or amazon prime, or any other streaming service. OTT platforms are stealing a march over TV channels and cinema and with streaming services available on the go, the next surge is expected from tier 2 and 3 cities, Says Prolific Entertainment Business Advisor & Astro-Business Strategist, Hirav Shah.
Covid-19 second wave has further propelled the growth of a segment that was already booming. It is hard to imagine that just a decade ago torrent was the mainstream source for content from outside of India which also happened to be illegal and still is, but who cares about torrent now anyway.
Meanwhile, Famed Astro-Strategist Hirav Shah mentions five points which say how OTT has changed the face of Indian entertainment.
1. It has evolved you as a viewer.
2. Entertainment has become a personal affair.
3. Friday has lost its charm.
4. Infotainment it is. It’s not just confined to entertainment.
5. There are thousands of programs you can access with a monthly subscription. Hence, reduced cost is also one of the factors that has helped change the Indian entertainment’s face.
OTT Future In September 2021
From just two OTT platform providers in 2012 to more than 40 players now, the OTT revolution has come a long way in India.
Assuming the crisis is not going to get totally over anytime soon, here is a brief outlook on what could be the future of OTT in India in September 2021:
1.Graph Of Growth To Go Upward- According to a report, the OTT industry in India is likely to reach $ 5 bn in size by 2023. An increase in disposable income, an increase in internet penetration to rural markets and OTT video adoption across demographic segments have been the key drivers of OTT market growth in India. September 21, will hence see a sure shot marginal growth in the OTT industry.
2. OTT Will Be Driven By Rural Demand- With increased internet penetration in rural area, OTT players are keen on developing regional content to cater to the rural markets. Today lack of other entertainment options has spurred audiences (mostly from Tier2 & Tier 3 cities)- Opines Hirav Shah. September of this year, will hence start to see the rural demand of our Country, driving “over-the-top” platforms.
3. OTT demand in Health & Fitness- Video streaming platforms having got an opportunity to expand their offerings into genres like health & fitness have entered into strategic alliances to cater to the increased demand and emerging audience segments.
Besides video conferencing apps, and websites, fitness applications such as Lose Weight, Cure.fit etc… in September, are expected to record a 110% rise in daily active users (DAUs) with expected engagement rate increase by 15% and expected time spent on the app, increase by 40%.
4. 5G Tech Will Change The Entire OTT Industry – 5G will change streaming behaviors forever, as 5G internet is expected to become the standard from September, especially in urban areas. This next-generation cellular network technology will provide much faster, more reliable internet speeds, opening a world of possibilities for OTT platforms and video streaming.
Even more notably, 5G will also give live sports and event streaming the boost it needs, with 5G promising latency to be just one millisecond, leading to less network interference and delays to ensure a flawless viewing experience.
However, there are some limitations to consider with 5G. For example, walls and other barriers tend to interfere with 5G signals. Carriers plan to bypass this with extensive networks of smaller network access points. Users can fall back to 4G LTE signals when 5G doesn’t work. Nonetheless, this tech will change the entire OTT industry, Tells Hirav Shah.
5. Growing Appeal And Popularity- Many streaming platforms like Netflix, Amazon Prime, and Hulu are all known internationally for their wide base of audiences. Brilliant players like Zee5 and Hotstar dominate the regional OTT space. Other notable OTT platforms are AltBalaji and Voot, and so on…
The appeal of streaming platforms like Zee5 is that they offer customized content to the audience, and the people love to watch these relatable shows. The vast and diverse country where each state has its base of heritage and culture. By catering to these unique needs of the viewers, these platforms ensure the high retention of membership.
By September, it is anticipated that the trend for these platforms will be primarily localization of content where unique and customized content shall be offered for the regional audiences.
Final Thoughts
The coronavirus pandemic has deleterious effects on humans, but the media giants have cashed in on the circumstances and brought unlimited entertainment to our homes. Movies got shrunk into mobile phones, television screens and home projection systems and the digital boom led to the mushrooming and flourishing of numerous Over-The-Top (OTT) platforms.
OTT versus cinema halls is still a heated debate and the popularity of OTT platforms has compelled the world to believe that OTT platforms are the future. After all, OTTs have become this generation’s multiplex…Concludes Popular Entertainment Business Astrologer, Advisor and Strategist, Hirav Shah.
