We Are Aggressively Investing In Original Content In Local Languages: Rajiv Bakshi, ZEEL
The OTT industry is still in its initial growth phase, with the massive homebound population acting as a massive shot in the arm for the industry. The road ahead, however, is expected to ensure the next three years to be dramatic, proving to be a real gamechanger with tremendous growth potential.
Charting the growth story if ZEE5, in this regard, the home-grown video streaming platform, houses over 2 lakhs+ hours of on-demand content in 12 Indian languages, offering an in-depth representation for both India and Bharat.
In a candid conversation with Rajiv Bakshi, Chief Operations Officer – Revenue, ZEEL he explains the challenges and opportunities that lie ahead of a digital video player, especially when the ecosystem is growing incessantly, “With increasing competition in the industry, finding the right content mix and catering to emerging consumer preferences and demand is the key to the puzzle. Apart from identifying the kind of content one offers, OTT players will have to try harder to attract and sustain consumer interest. With so much on offer, it is going to take a lot more to grab people’s attention, and this will lead to disruption and more innovation in the space, including stronger content options.”
On Irreversible Changes & Investments
For Bakshi, online behaviour underwent two dramatic shifts in recent times. With more options available at their disposal, consumer’s tastes in entertainment evolved and the demand increased manifold within no time. “Consumer behaviour and preferences had an overhaul, with viewers looking for high-quality, personalised and resonant content along with a befitting experience. At the same time, they were looking for value for money and quality content to cater to their diversified palette of entertainment preferences. Both these factors are setting trends across different cohorts and segments and are driving the business,” he says.
From an investment point of view, such irreversible changes have pressed ZEE5 to identify various taste clusters across multiple languages and geographies for a stronger pulse on their audience and their changing preferences. “We have been aggressively investing in original content in local languages and exploring content genres beyond the usual ones. With an objective of ‘entertainment inclusion’, we aim to cater to the entertainment needs across the length and breadth of the country, and we have invested in bringing the real, relevant, and resonant content to the forefront,” he mentions.
Further, the platform is looking more into 360-degree all-encompassing marketing plans for their content releases, like #HelmetOn for its latest release – Helmet, through some high impact BTL and ATL activations to promote social awareness for the widespread issue of resistance towards usage and purchase of condoms in India.
On Consumption Pattern Across Tiers
Viewership is perceived as a function of affordability when it comes to OTT, but for ZEE5, it is a function of aspiration. “In fact, the next wave of OTT consumption will be driven by the smaller markets,” believes Bakshi.
While the big cities have a definite influence, the larger chunk over time will come in from tier II and III cities. Regional content lately has garnered key engagement from across the country on ZEE5, which is a testament to the massive growth opportunities that lie ahead of them.
“Content will be king across all, and diversity of the content is only going to grow. Both device compatibility and platform performance will be of major focus across the spectrum. Value-driven partnerships will still be key, to get the next million audiences onto the bandwagon,” he suggests.
On Tips To Marketers
Studies show that 54% of consumers want to see more video content from a brand or business they support (Wright, 2020). Commenting on what it means for marketers and brands, Bakshi agrees that video is going to be the central force for advertising. It will call for marketers and brands to adopt a sharper approach in terms of defining their target media and sales audience, “Visual formats work better in building a connection with the audience, and through video as a medium, advertisers have the opportunity to deliver more engaging content layered with an understanding of the consumer profile.”
On Emerging Trends
Bakshi advocates a strong amalgamation of content, data and tech to be the key differentiator factor. For him, content will see a wave of the regional context, with personalised content in high demand. “The industry will witness the integration of accelerated engagement with brands and clients, and emerging technology solutions will drive B2B growth. Trends will be defined not just basis of the data but from a holistic point of view keeping the end consumer in the epicentre. We expect digital advertisers to surpass exponentially and the tertiary sector, including SMEs will eventually move into this space,” he sums.
