The OTT Revolution is certainly on cards, many experts have been saying for the last two years. But the Coronavirus Pandemic has accelerated it by multiple folds thanks to limited entertainment options during the Lockdowns.
While it is a myth that the Indian audience would not pay for premium content, 2020 proved otherwise. The Pandemic has increased the OTT subscription by at least 60%, according to a Boston Consulting Group Report. The survey also claimed that more than half of these new subscribers are willing to continue their subscriptions.
Netflix reportedly doubled its paid subscribers when compared to 2019. Thirty percent of Disney + Hotstar’s total new subscribers across the globe are from India. Amazon Prime Video continues to be the market leader in the OTT space in India. The subscription model combined with its marketplace offering, Prime worked big time for the giant.
Coming to the Desi OTT Platforms, Zee5 is already making a significant contribution to the parent company’s overall revenues. Small platforms like ALTBalaji, Voot Select, and Discovery Plus claims to have exceeded expectations around customer acquisition.
Amazon Prime Video has forayed into live sports acquiring rights for broadcasting New Zealand cricket matches in India. Disney + Hotstar is already telecasting IPL. With more players likely to be in the fray for telecasting India’s favorite sport, things will be much special in 2021.