Skip to main content

OTT Platform: The New Normal of The Entertainment Industry



Most of us have grown up watching a family TV at home. Programs to be watched were either pre-decided by elders or decided by the one who held the remote. Biological breaks were often synchronized with the commercial breaks. Kids would often bunk extra classes on Saturdays & sacrifice morning slumber on Sundays to watch their favorite superhero Shaktiman.

In this never-ending lockdown period, many of us may have realized that TVs are past their prime & the next big thing in the entertainment industry is OTT (Over The Top) platform.

OTTs once looked at as an alien concept are rapidly growing their roots in the entertainment industry today. In the lockdown period, OTT majors like Netflix, Prime Video, ZEE5 & MX Player have already posted more than 200% growth in their subscribers base.

What is really driving us to OTT platforms?

  • Boredom stemming from traditional TV providers: Repeat telecasts, fear-selling media & high decibel news debates on traditional TV.
  • Exclusive Content: Compelling, binge-worthy, original & home-produced shows exclusively made to stream on OTTs.
  • Enhanced Flexibility on OTTs: Availability & seamless access to content anywhere, anytime & without commercial breaks. Resume watching it from where you left-off. Skip recaps & intros. Make the next selection through a wide variety of recommendations based on your content consumption pattern.
  • Easy subscriptions & cancellations: Try free for a month & buy only if you like. Choose the best suitable plan, buy within few clicks & start streaming the next moment. Auto-renew or cancel the subscription at equal ease. 
  • Can’t afford it? Split it. Go for multiple screens & split the expenses among the multiple users.

Collectively, the exceptional viewing experience is what pulls us to OTT platforms.

In the industry largely driven by traditional TV providers, OTTs are making in-roads by giving their audience an Exceptional Viewing Experience.

Free Trials, Compelling & Binge-worthy Content, Enhanced Flexibility, Easy Subscription/Cancellation process, Affordable Monthly Plans  & even other trivial processes are developed keeping customer’s interests & experience in mind.

Millennials are the early adopters of OTTs as they demand greater flexibility at a minimal cost. They are constantly on the move & prefer to binge-watch the content on their devices.

Today, more than 30% viewership on OTTs comes from Millennials & 90% of them stream it on their smartphones.

Many of us may have subscribed Netflix & Amazon Prime Video to kill saturation & boredom coming from traditional TV providers but the exceptional viewing experience is what going to retain us on their platforms.

The “New Normal” will see a very minimal response to outdoor entertainment events like cinemas, theatres & stadiums. In the absence of such entertainment events, steady footfall on OTTs will continue to surge.

Comments

Post a Comment

Popular posts from this blog

Breathing Exercises to strengthen Respiratory Health in COVID-19 Pandemic

One of the ancient & beat-up proverbs, "prevention is better than cure" is abundantly preached & rarely practiced. A lot of lives & relations could have been saved in COVID-19 pandemic if each of one us had undertaken effective preventive measures in terms of personal hygiene & social distancing. The above situation could have been possible in an ideal world but the world is not ideal & hence we have to deal with reality. Unlock 1.0 is expected to see an exponential rise in COVID-19 cases as the businesses will gradually return to normalcy & social boundaries will shrink drastically. This is the most critical time for our immunity to be strong & respiratory health to be at best to safeguard ourselves from catching Coronavirus infections. Clinical studies & panic-selling media have already confirmed the importance of strong immunity in preventing COVID-19 but very few words are shed in media for spreading awareness of respiratory health....
1 comment
Read more

Consumer behavior in the "New Normal"

Who would have thought a microscopic particle from Wuhan could cause catastrophic havoc globally. The unstoppable virus destroyed lives & livelihoods across the countries. Industries stood still & decimated economies to the ground. With very few income opportunities at hand & daily expenses bleeding personal savings, consumer behavior is ready to shift to the “New Normal”. In this unique situation of COVID-19, no one has a concrete idea of what the future holds for us. The absence of historical data makes it even more difficult to predict consumer behavior in times to come. In the recent lockdown, we have seen a number of immediate impacts on our behavior as a consumer & based on that we can predict consumer behavior in the “New Normal”. Decrease in luxury spending Gone are the days when consumers enjoyed financial freedom. Consumers of the “New Normal” will significantly curtail spends on luxury items like cars, cameras, phones, watches, gold & costly home ap...
4 comments
Read more