Despite the fact that the current year has been incredibly volatile for the media and entertainment industry, especially with the OTT v/s cinemas debate being at its peak, numerous OTT platforms have amassed more and more subscribers. Such has been the case with Warner Bros. Discovery as well.
As reported recently by the CEO David Zaslav, the giant entertainment company recorded the gaining of 7.2 M users over its subsidiaries Max as well as Discovery+, just within the span of a quarter. What this also means is that the company concluded Sep’24 with nearly 110.5 M users, even though it commenced June’24 with around 103.3 M users!
Translationally, this has also been the largest ever reported quarterly growth in terms of subscribers since the launch of Max. One major contributor for this exponential growth has been the widely popular Paris Olympics. Moreover, the cumulative direct-to-consumer segment witnessed a revenue increase of 9%, raising the total to a whopping USD 2.63 Billion!
Although this paints a positive picture of the worldwide OTT landscape, the same cannot be extended to the Indian OTT space. While numerous OTT platforms have recorded positive viewership statistics, as well as an increase in the number of subscribers, this has not been accompanied with an equal increase in revenues and therefore, by extension, profits.
Coming back to the case of Discovery, Zaslav also mentioned that this feat has been the culmination of strategic and operational decisions. Which is to say, if there is a conclusion that Indian OTT providers can draw from this, it is that growth on such platforms has high potential, and needs only to be tapped wisely!
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