Over-The-Top (OTT) is a streaming media service provided to the audience directly through the internet. With the evolution of the smartphone, the first phase of OTT came into existence. OTT became more prominent with the launch and use of 4G technology. Today the demand for OTT is increasing day by day. The question is will it affects TV? Will TV becomes a bygone.
And now, in the ongoing global pandemic, we all are adopting and getting used to a new normal life due to lockdown and quarantine. During this hard time, people are not allowed for any social gathering or leisure time at malls, beaches, theatres, etc. Therefore, we all tend to depend on and use OTT. Today OTT is an alternate solution to watch our favorites. The question is, will the current affinity towards OTT remains the same even after COVID-19? Will people prefer to watch movies on OTT platforms rather than going to theatres?
OTT platform should create quality content, by generating revenue from subscriptions and again invest the revenue in improving the quality content and it is called Subscription Video on Demand (SVOD). OTT platform can be viewed from two perspectives. One is Reach and the other is Engagement. OTT gains its reach through brand commercials or static banners. And engagements through brand integrations in the original contents created for OTT.
By Cost-effective subscriptions with quality Content and by uninterrupted Continuous viewing at a Convenient time, OTT has made it’s entry-level to predominant level in any country through these 4Cs’. For example, Netflix has gained 182 million subscribers worldwide.
But in India, it is a different case. It doesn’t seem to work like this. India has 30plus OTT players and the predominant ones are YouTube and MX player with 200 Mn users, while Netflix has less than 10 Mn users.
According to a study conducted by KPMG shows that only 10 % of the viewers use OTT platforms for watching the original content. This indicates that user convenience, original content, and personal viewing. OTT provides personalized entertained experience to its users than any other way. This would be the main reason why people are more attracted to OTT.
