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Tuesday, April 16, 2024

Where the Indian OTT industry is headed facing all the good & bad days?

OTT industry after the pandemic and subsequent lockdowns affected almost every aspect of life and people had to make changes and adapt to the new lifestyle to the new normal. For most industries to emerge from the pandemic’s counterblast, they must evolve and redesign how things operate.

During the pandemic, the OTT Industry bloomed. As per sources, 2019 has a market value of $121.61 billion, and the OTT market is expected to grow to $1.039 trillion by 2027.

Before we start with the OTT Trends, let’s define what is OTT and why it is necessary to know about the OTT Industry.

 In OTT Industry What are OTT Platforms Mean?

 OTT industry

Over-The-Top is the process of releasing media content to viewers and customers directly on the internet meaning (on the web) without paying for cable TV.

The modern way to access media content like movies, TV shows, web series, sports, music, etc, across different devices, anytime, anywhere. OTT (over-the-top) streaming is a new method of providing film and TV content over the web and App and some are free. And people take pleasure in it.

Android is the most popular operating system across all markets, holding 2.2% of the market share, closely followed by iOS at 26.6% according to the global stats counter. There are 3.8 million smartphones in the world, which is 48.2% of the world’s population, according to Bank My Cell.

Estimation of the OTT Industry In India

According to Statista, the current number of smartphone users globally is 6.648 billion, which shows that 83.89% of the world’s population owns a smartphone. This number is based on 2016 when there were only 3.668 billion users, 49.40% of that year in the world population.

This means that they have the liberty to decide when and what type of content they want to consume. With each passing day, this beat traditional TV.

Indian OTT Industry

Where the Indian OTT industry is headed?Netflix started in the United States in 2007 and was introduced in India in 2016. OTT platforms in India were born in 2018, but it all began in 2007 when Netflix launched in the United States. But actually, the first over-the-top(OTT) platform launched in India was BIGFlix.

When theaters are closed during the pandemic period due to lockdown, filmmakers and producers release their films directly to OTT platforms. Gulabo Sitabo becomes the first film to be released on OTT.

OTT Platform List

In 2018, the major ott platform was Netflix, Amazon Prime Video, and Hotstar, which are getting popular. Apart from these a lot of ott platforms are also available Now in India to stream Online, Below we have covered most of the OTT platforms in the List.

Voot Jio Cinema  Addatimes
Zee5 Hoichoi Brightcove
Sony Liv Dacast YuppTV
Youtube Viu Sling Tv
Netflix Kaltura Crackle
Disney+Hotstar Hungama IBM Watson Media
Prime Video Mubi ULLU Tv
MX Player BigFlix Eros Now

Web series like Secret Games, Yeh Meri Family, Mirzapur, and The Family Man have become the most-watched web series in India.

Films like Shakuntala Devi, Dil Bechara, and Laxmi are released directly on ott platforms. Subscriptions are increasing, which lead to the emergence of the OTT platform in 2020.

Likewise, in 2021 the same thing occurs when films like Mimi, Shershah, and Sardar Udham were released on ott platforms and become the most popular movies of the time. In 2022, when theaters and OTTs are contemporary.

OTT Industry Future In India

As a result, people in India have adapted to this change and are expecting a bright future for OTT platforms. Growth of subscriptions and increasing and decreasing number of viewers of OTT platforms over the last two years.

The question is, is the theater business going to end in India? OrmaxMedia reports that the theater business will continue. In the first half of 2022 movies like RRR, KGF, and Bhool Bhulaiya 2 succeed in bringing people to theaters in India.

Only users who can access streaming services have subscribed. They provide their viewers with premium content and an amazing experience, either on a fee-for-service basis or through unlimited on-demand access, such as monthly and yearly subscriptions.

Strongly opinionated, She is an ardent believer that a good writer eventually comes from a good reader. The more you read, the more you are able to convey as words are the pearls through which a sea of feelings gets an audience and what's better than making the web a more entertaining place with the entertainment writeups? Yes, you read it right, she has come a long way with her passion and aspires to be much more.