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OTT Going Over-The-Top

Film and television content provided through a high-speed Internet connection instead of cable or satellite provider is what OTT is, in a nutshell. OTT platforms like Netflix, Amazon Prime, Hotstar, Zee5, Voot, Sony Liv and others provide a large number of audio-visual contents to its consumers in exchange for a reasonable monthly or annual subscription. Consumers, mostly the millennials, prefer OTT platforms more than traditional mediums of entertainment as OTT comes with a number of benefits- advertisement free content that can be streamed anywhere and anytime, giving them freedom.

 
Pocket friendly subscriptions for one or multiple devices.
 

THE SHIFT:

Since mid-1990’s, digital content delivery via internet protocol was the only means for television service providers to dispense content to the consumers. With only a television subscription and a set-top box, access to films and television content was easy but limited to only a number of channels, whatever available in that specific region. Just when the consumer habits and preference were changing, the growth of Over the Top, or OTT platforms witnessed a surge with the sharp rise of Netflix as it offered fresh and original content to attract the consumers. Netflix’s increasing popularity, especially with the youth population, gave rise to new OTT platforms, each with their original content in terms of both plots and visuals. 

THE RISE:

In the present time, not only the millennials, but the older generation are also getting accustomed with using digital technology. Netflix, Amazon Prime, Zee5, and more has different types of content made for different age-groups, incorporating different genres. This is also a contributing factor to the increasing growth of these OTT platforms. The easy-availability of smartphones and cellular data has empowered the greater portion of the population to gain access to online platforms. According to statista.com, India has 760 million smartphone users in 2021. Techradar.com reveals that India has a viewership of 355 million people for OTT platforms. The ever-decreasing cost of cellular data by major data-service providers like Jio and Airtel has fascinated the younger population, aged between 18 to 35 years, to turn to OTT platforms for entertainment. As an effect of globalization, rural India has also become a target group for these platforms as they are gaining the potential to subscribe to these platforms, but at a steady pace.

In 2020, the revenue generated from subscriptions for OTT platforms in India was 19 billion INR, which is predicted to hit 46 billion INR by 2022. Over the Top platforms surpassed the film and television content services to rank the third-largest Media & Entertainment sector in India in 2019, as per the latest EY-FICCI Indian Media & Entertainment Report. The major success and rise of the OTT platforms in the current time has been termed as "the third golden age of television”.

 

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