During the lockdown, the demand for OTT platforms has shown a sharp rise. Because at this time people are finding it the best way to entertain themselves. Here are the fact and figures
The lockdown had a major impact on the business of the film industry and celebs From the makers to the cinema owners everyone suffered badly. But, in the meantime, if anyone that got benefit from this is the OTT platforms. Although the number of OTT platform users has been already increasing. But it was noticed that during the lockdown there was a sharp rise in its graph. And now the situation is that Bollywood superstars are also slowly moving from theaters to OTT platform.
Recently many films were released on OTT platforms. And due to this, the theatre owners have started facing difficulties. Perhaps some theatre owners were also showing their rage and opposing the release of the film on OTT platforms. Earlier many theatrical organizations have earlier expressed displeasure over the release of the film on the OTT platform and have urged that the makers are breaking the trend which is wrong.
Reason for the increased demand for OTT platform and its revenue
If we talk on the basis of the revenue, then the revenue will be generated on the same platform as the theaters. According to a report by PWC Global Entertainment and Media Outlook. OTT market was 4464 crore in 2018 and will be 11976 crores in 2023. Which is approximately equal to the market of cinema in 2019 that was 11500 crores. After these figures, it is being said that this may cause considerable damage to theaters. However, Film distributor and film analyst Raj Bansal says that with the opening of theaters, OTT’s popularity will wane and people will start turning to theaters again. Experts say that once the cinema starts, everything will be normal again. They said that popularity is increasing due to people as they have no means of entertainment and the OTT platform is cheap and easily available.
It is being told that around 5-6 platforms including Netflix and Amazon Prime are more popular and the number of users on them is quite high. But according to the survey report, this graph increased during the lockdown. Earlier the buzz of the OTT platforms was only in the cities but now its passion is been see in small cities too. There were 16000 ad assertions in March, which has now increased to 33 thousand in April. However, the data of Netflix and Amazon is not included in it, because it does not come up in the ad, and charge subscription fees instead. Actually, the OTT platform is a cheap, beautiful, and sustainable solution at the moment. And people can take a month-long subscription at the expense of one or two films and the whole family can enjoy it.