The entertainment industry has been affected by the rise of
over-the-top (OTT) services. It has made watching movies more comfortable,
available, and affordable for a wider range of users. Anyone with a cell phone
and access to the internet can watch a movie from anywhere in the world. The
current figures from Indian OTT subscribers are saying that in recent years,
the average time spent by each Indian subscriber has increased from about 20 to
50 minutes to at least one hour.
With the recent government shutdowns and the current state
of the economy, OTT seems to be the new standard in the film industry. Films
have been suffering for weeks as a result of cinema complex and hall closures. The
film industry may be facing losses as a result of the various on-going and new
ventures that have been put on hold. As the lights go out on live events,
shoots, and movie premieres, the only silver lining is the increase in
popularity of over-the-top (OTT) material. The content line may have dried up
due to the halting of productions, but streaming through OTT platforms across
the country has not. At the same time, ad spending has sunk as a result of the
recession's effect on the financial services, e-commerce, and automotive
industries.
At a fraction of the expense of a formal release and
conventional ad campaigns, OTT will help content reach millions of potential
customers. The simultaneous release of a new film on DTH and OTT will attract
billions of viewers around the world. By monetizing their online
advertisements, the production house could theoretically make millions in the
first weekend of release. Although multi-million dollar films can still be
shown in theatres, they can reduce their financial risk by securing a minimum
guarantee offer to cover their production costs.
The threat of piracy production houses in India can be
eliminated by releasing through OTT channels. Indeed, the widespread
availability of content can remove the need for piracy entirely. With the
ability to access OTT channels from the comfort of one's own home, the demand
for high-quality content is growing by the day.
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