Over-the-top services, also popularly called OTT platforms, don’t need an introduction anymore – a minimum of not for the millennials. Affordable smartphones, high-speed Internet connectivity, and reduced data costs have all contributed to the recognition of the OTT platforms.
Founder & CEO of Efficacy Worldwide Vishnu Sharma outlines the expansion of OTT platforms in India and the way the pandemic has further triggered the expansion of the amount of OTT subscribers. At the identical time, Sharma doesn’t see OTT cannibalizing TV viewership, but rather OTT and television co-existing and being an integral part of diverse households.
To have too many choices for entertainment may be a good problem to possess – as critical not having any. OTT platforms are device agnostic. People can consume content anytime, anywhere, and from any device that’s available to them. From being guilty about binge eating to now being guilty about binge-watching – we’ve come a protracted way!
In a price-sensitive market like India, the success of any product is directly proportional to its comparative popularity. Not very way back, Reliance Jio caused a revolution within the world of Internet usage and connectivity. That, let alone competitive prices for OTT services, made lots of individuals leap to the opposite side. Lots of TV loyalists joined the campaign because there was nothing to lose – all their favorite TV content was on OTT platforms at completely reasonable prices.
The torturing pandemic has helped further the cause too. When the access to multiplexes, among other entertainment options, was restricted thanks to Government or self-imposed isolation – people found solace in what made them feel good. The trend continues, as does the pandemic. The rising acceptance of OTT platforms doesn’t mean the tip of TV.
There could also be stiff competition in these modes of entertainment, but the sectors they cater to are entirely different. YouTube has made the utilization of content readily available to rural consumers, who might not have discovered the OTT platforms yet. With the worldwide pandemic, which prevented movies to be released in theatres, the distributed OTT platforms marked a pointy rise within the number of subscribers.
Those that preferred to observe movies on the massive screen had to alter almost overnight – which has been beneficial for the OTT biggies. From a security point of view, people are wary of stepping out for entertainment for an extended time to come back. The entertainment world has enough space for both mediums of entertainment.
While OTT services are getting increasingly global, traditional TV viewers are loyal to their preferred category of entertainment. In a nutshell, TV and OTT services will co-exist for a minimum of it slow to return and can be an integral part of diverse households India takes pride in.