Pratiksha Srivastava
Over-the-top (OTT) platforms saw a sudden rise in their business during the pandemic. During the lockdown, when movie theatres were shut down, a majority of the public turned to OTT platforms for entertainment. Web series started gaining more popularity than movies and daily soaps. Also, a lot of struggling or long-lost actors got to essay challenging roles and reshape their acting careers. Although the pandemic brought a lot of distress to many, it revived many acting careers and boosted the revenue of OTT platforms.
In India, the revenue generated by OTT platforms was over 1.8 billion USD in 2022, says Statista.com. It is 2024 and the market continues to grow. Initially, some key players in this domain were Amazon Prime Video, Netflix and Disney+ Hotstar. Later other players like Sony Liv, MX Player, Yupp TV, JioCinema and Zee5 also started gaining ground. After a long period of staying at home in 2020 and 2021, life was almost getting back on track for everybody in 2022, and by that time, OTT platforms had created a hold on the entertainment lovers in the country. The following graph gives a fair understanding of the yearly expected growth of the OTT business:
The situation is similar globally; the OTT market was estimated to be worth nearly 202.5 billion USD in 2022, as per marketsandmarkets.com.
So, even before 2020, what was the reason that shifted people towards OTT platforms? Possibly it was the packaging, convenience and innovation.
“Life is quite busy for everybody nowadays, you want everything at hand, and OTT is something that you can watch at your own comfort. You can watch it while travelling or doing other things. Also, I would like to mention that after the introduction of fancy multiplexes, traditional cinema halls lost their market. This was cashed in by the OTT business,” says Naveen Lohara, Production Designer and Art Director, who has worked for Panchayat, Chacha Vidhayak Hain Humare and other famous web series and on well-known movies like Badlapur and Kapoor & Sons.
Pavni Sachdeva, Multimedia Journalist, Talk Show Host and CEO of Areum Media, says “Covid-19 was definitely a major driving force behind the rise of OTT platforms. Nonetheless, no entertainment source would be widely accepted by a mass audience unless it offers either a unique and unexplored experience or something that can add value for the viewers. Multiple entertainment options without barriers to restrictions makes OTT worth it and popular. It is the electronic and comfort version of a physical multiplex cinema hall.”
OTT: A boon for big names and hidden talents
It was a well-established fact earlier that bigger film stars did not like to appear on the small screen. However, things started to change after the well-known game show Kaun Banega Crorepati was hosted by Megastar Amitabh Bachchan. Nowadays, many big film stars are judges of reality shows. Simultaneously, in the OTT space, well-known directors and producers are making web series and releasing their movies. Heeramandi, a web series by Sanjay Leela Bhansali is a recent example. Clearly, OTT platforms are expanding their horizons quite spectacularly. Big names including actors, directors and producers come with bigger investments and promotions and if there is a success, then huge revenue is generated.
Films have always been the best medium for setting trends and creating awareness among the masses. Films like 12th Fail and Laapataa Ladies which had OTT releases, have brought many burning social issues to the fore and have received immense love from the audience. Also, many web series have managed to achieve the same feat by carving out a special place for themselves in the audience’s hearts and minds. All in all, be it a movie, a documentary or a web series, for OTT platforms, it is always a win-win situation.
Trend of remakes or adaptations
Apart from making realistic, new and fresh content, there is also a trend of adapting or remaking foreign shows on OTT platforms. It is a constraint of the OTT business that to be in the market and constantly make profits, OTT platforms need to serve some or the other content regularly to their audience. And there is tough competition as well.
Sohini Mukherjee, filmmaker and Co-Founder at Candid Canvas Productions, says, “The OTT business is growing because it connects the audience with shows that are from all over the world. And they are great in terms of content. People want to watch newer and exciting stuff. This could also be the reason behind many production houses in Mumbai adapting/remaking so many foreign shows currently. Also, the fact is that they have constricted budgets here. So, an original show is given at least a year or more to be written, but with remakes, results are expected just in a month! It’s not true that there are no good writers/makers, actually there is no time! Hence, people get hooked on to an OTT show rather than buy tickets for a film at a theatre.”
Content is key
Leaving aside factors such as the opportunity to create a flourishing market due to the shutdown of theatres during the pandemic, handiness, convenience, budget, etc., the main driving force behind the growing OTT market is quality content.
Snehasis Das, a filmmaker by profession, says, “Innovations keep on happening. A shift from the big screen to palmtops or laptops doesn’t mean that the allure of the big screen has lessened. The revenue is divided, but watching a movie in a movie theatre is still a unique experience. I agree that web series have gained popularity due to OTT, and many talented writers, actors and other professionals have found a new lease on life. People get to see different and reality-based stories in web series. But in my opinion, movies are still a big-screen thing. The only concern is content. Movies need to compete in content with the matter available on OTT nowadays. The lockdown necessitated the OTT release of movies, but movie theatres are re-opening now. The main source of revenue generation on OTT are definitely web series. Ultimately, innovations will always happen and just like the advent of OTT, something else will come in the future.”
Due to the quality of their content, users tend to subscribe to and remain attached to many OTT platforms. They do have the option now to watch movies in cinema theatres and daily soaps on TV but still they are choosing OTT web series and movies. So, to survive in the long term, OTT platforms will have to consistently maintain the quality of their content and retain their talented workforce.
