Viewers Seize The Reins In Evolving OTT World
The entertainment industry in India has been shaped over the course of time, right from the first feature film Raja Harishchandra to the commercial success of other countless films, the transition is undeniable. From theatres to television and now with Over-the-top (OTT) platforms booming across the country, the consumption pattern of Indians has evolved and is rapidly growing with easy access to smart devices and affordable internet plans.
The rise of Indian OTT is revolutionary with a viewer spending approximately 70 minutes of their day on the video streaming platform, a consumption frequency that counts 12.5 hours a week, according to an Eros Now-KPMG report. As the industry continues to expand and innovate, Manish Kalra, Chief Business Officer of Zee5 India shared his insight on the changing dynamics of OTT Business in India at the recent, India Web Fest Season 5 conclave organised in Mumbai.
Consumers Ride The OTT Crest
OTT platform has evolved and so has the consumer said Kalra emphasising the changing consumer pattern which he stressed is demanding in many ways. With the availability of diverse content and binge-watching becoming a standard, viewers bring significant revenue but attracting the consumer is a task, the Zee5 officer underlined.
He said OTT trends are changing and consumers are playing a vital role in harnessing the business shift on the trending platform. In India, consumers have a wide range of choices when it comes to OTT platforms. So, it becomes important to provide the right content to the right consumers as they are the centre of the OTT business, Kalra added.
Paid Or Unpaid - Every Consumer Brings Business
According to reports, the year 2020 set a milestone for OTT with paying Indian subscribers reaching 29 million with 53 million video subscriptions. The trend still continued thereafter but with the availability of the OTT plethora, the viewer today is exploring more of free content over paid. Shedding light on consumer preference Kalra said OTT consumers can be classified into two groups - the one who pays and supports the OTT profits directly and the other who adds revenue by watching over the free content with advertisements, indirectly leveraging the Over-the-top platform’s income from advertisers.
Movies On OTT – The Game Changer
Unquestionably, with abundant choice and seamless accessibility, movies on OTT optimise strong business opportunities. Speaking on the lines, Kalra said ‘Movies are the game changer in OTT’. He said with the release of movies on digital platforms consumers are enjoying the dynamic shift that allows them to watch any content with their own comfortable time zone and space. OTT has successfully broken the barriers drawn by theatres - the availability of seats, traveling, and fixed show times.
The OTT movies have also attracted busy individuals to the platform who often complain about bingeing on web series said the Chief Business Officer of Zee5 addressing the significance of movies in boosting the OTT earnings.
The AI Shift
As India leads the charge in the AI journey with machine learning booming in every other field the OTT will soon adopt the advanced technology says a report. Elucidating the AI in OTT, Kalra said we may see AI-driven content on the platform but humans are impossible to replace as they are the ones to harness the technology.
Talking about the ‘AI actors’, the Zee5 officer said this probably seems impossible at present as viewers look for the emotional connection but nothing seems impossible in this digital era, he added.
