OTT Content Productions - The Game-changer for the entertainment Industry in 2021
With WFH becoming a preferred option, digital consumption is on the rise. As a medium of entertainment, OTT services have taken center stage. Gone are the days when families used to buy DTH connections to watch news, movies etc. Today, people buy Smart TVs to stay connected, informed and watch content on OTT platforms. In recent years, the average time spent by each Indian subscriber has increased from roughly 20 minutes to a minimum of 60 minutes. With over 40 OTT platforms to choose from, Indian consumers watch their favorite TV shows, web-series or any latest content either on their smart TVs or phones for a personalized experience.
OTT is reshaping the Indian film industry
With the ongoing pandemic situation, the multiplexes are shut as public gatherings are restricted thereby pushing producers to release films on OTT platforms. Disney+Hotstar has successfully changed the movie business dynamics with their Multiplex section where new films are directly released on the platform as a part of brand partnerships. The same method is being followed by other OTT platforms as well. This has also given rise to increased ad-spends on OTT platforms, keeping in mind the consumption ratio. This is largely due to the convenient content delivery and the access to consume content wherever, whenever. OTT allows a level of personalization through recommendations and variety that was unattainable before. Binging has been redefined by OTT, and it has become the new normal for Indian content consumers. By producing innovative and out-of-the-box series and movies, OTT platforms have consistently changed the game in the entertainment industry. This has provided an opportunity for brands and marketers, as OTT allows marketers to effortlessly personalize their adverts using highly particular content consumption behavior information.
OTT Content Production - The Game Changer
With the rise in content consumption, what producers need to look at today is creating highly immersive content that drives eyeballs. There is no denying that the film industry has suffered enormous losses in the past 18 months. If planned & promoted correctly, content production for OTT can potentially cover up for losses suffered last year. In 2021, the entertainment business is expected to recover. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the industry would rise by 25% this year, reaching Rs 1.73 trillion. With minimal constraints on OTT, filmmakers now have the ability to experiment with content that resonates with the audience; instead of commercial masala films, immersive material and dramatic tales are the order of the day. Shows like Mirzapur, Sacred Games, and Family Man, for example, would never have made it to the big screen if it wasn’t for OTT.
OTT platforms are arguably one of the fundamental reasons why people of all ages and demographics have been able to preserve their sanity and live in peace with those confined within four walls. With the massive reach of internet and increasing smartphone penetration, the seeds of OTT content were sown well in advance. People, largely part of the workforce, are spending more time on their devises, thus these OTT platforms have found their way into our lives. The convenience of viewing from anywhere and anytime meets the demands of today’s digital consumer's fast-paced lifestyle.