This research tries to review the growth of OTT platforms throughout the lockdown. It's vital to understand the extent of increase within the popularity of OTT platforms throughout lockdown to understand their future scope. It's evident that, since their launch, OTT platforms have solely discovered an upward curve in their usage, and because of the pandemic and lockdown there has been exponential increase in its popularity because of the modification in consumption patterns of individuals for diversion through numerous media platforms. This analysis conducted a survey and analyzed the opinions of individuals relating to OTT platforms, their consumption patterns, and its comparison with cinema to examine if OTT platforms were slowly taking on the foremost fashionable standard medium of diversion. It had been found that individuals used OTT over the other platforms outside of TV and YouTube to pass their time or for diversion.
TopIntroduction
The research topic deals with the emergence and consumption within the duration of lockdown towards a selected sector i.e. OTT, over the top services. This sector belongs to an awfully huge trade, the show biz. Entertainment in layman’s terms suggests that having fun and enjoying either with one’s own company or even with their favourite ones. In today’s world entertainment, is one among the foremost leading industries, which incorporates the sub-fields of theatre, film, fine art, dance, opera, music, literary publication, television, and radio. With the day to day development in technology, these industries are being improved at a quick pace. There are cases of cut- throat competition along with goodwill within the market. Showbiz is unpredictable because the main profits depend on the TRP of a selected TV station, or the box-office collection of over 100-200cr. It is assumed to be a blockbuster and hit flick, whereas generally, other movies that couldn’t reach this bar at the box office, are assumed to be average, in spite of the actual fact that those movies might have a good script or direction, etc. There are numerous ways that, (as mentioned above) as this industry is often perceived in varied forms. Currently, even the advertisers have understood this idea and are adamant in making new and attention-grabbing advertisements for constant. The customers look for creativity ability power} and out of the box concepts that please them and make them think and bear in mind about a complete product in an exceedingly explicit way. For instance, sometimes after we see 2 dominos dices, we tend to get reminded of the dish chain – Dominos’. Similarly, after we see 3 parallel vertical lines, we automatically identify them as Adidas.
With major players like Voot, AltBalaji, Zee5, and MX Player, India's streaming market is among the largest and fastest-growing in the world, according to the Global Web Index survey. The nation's video market, currently estimated to be worth over $700 million, is anticipated to increase to $2.4 billion by 2023, with the OTT sector seeing the fastest development.The big budget producers and directors will be forced to release movies directly onto OTT channels rather than at theaters as a result of the trend of people watching multiple content channels at once and the demand for newer and more exclusive content. For example, the Vidya Balan-starrer Shakuntala Devi biopic was premiere exclusively on Amazon Prime Video, along with the first time that Amitabh Bachchan had seen the global premiere of his film on a digital platform with his latest picture “GulaboSitabo,” which also stars Ayushmann Khurrana, was unable to be seen in theatres when it was scheduled for release in April.Good content for over-the-top (OTT) services is highly sought after and during the lockdown.
It is truly said that this is the age of millennia, they neither hear their elders nor do they do what's suggested to them. The expansion of the population, youth, and marketing, everything else is interconnected. The OTT, which is evolving from niche to mass-based content and long-form is getting traction. (Girish menon, 2017) The number of OTT players increased from just 09 in 2012 to 32 in 2018. In 2017, the OTT industry in India achieved phenomenal growth of 160 per cent, as the top 16 OTT platforms saw their user bases grow from 63 million to 164 million between August 2016 and August 2017.(Rajat kathuria, 2019) .
India is the second-largest subscription TV market in the Asia Pacific region in terms of the number of subscriptions in TV households, which reached 154.3 million in 2016. This is expected to expand to 1.6% CAGR to reach 166.9 million by 2021. (Alpana kakkar, 2019)
Technology is ever-changing with clicks. From online banking strategies to e- wallets and what not, with one click everything is available at the doorstep.
When Netflix released the 15 episodes of a new season of Arrested, Development in the summer of 2013, reports showed that approximately 10% of viewers had seen the whole season within 24 hours and shared it among the millennial cohort, which marks Netflix at the top subscription list (matrix, 2014)
OTT has been enabled by technology advances such as smart phones, super-fast IP networks, open source platforms, innovative services, cutting edge functionalities and shift in consumer preferences towards their “freemium” based business models are seeing an ever increasing adoption rate. (Joshi Sujata, 2015) This freemium concept attracts consumers. They do not understand that nothing is free. Firstly, we have to pay for the internet packages and then only something can be surfed on the internet. So, ultimately, until and unless the consumer pays for the data, he/she won’t be able to use any of the applications, which include internet connection, for example, Netflix, amazon, etc.