The world is absolutely and certainly in an adverse and damaging situation right now with the covid-19 pandemic outbreak. On one hand, work from home has become the new way of life and on the other, many businesses have come to a standstill. In the lock down phase, the public has more time at their clearance. Which ends up spending more quality time with family, completing household chores, and consuming content via OTT platforms. This has resulted in an increase in content utilization across the globe.
With more and more companies promoting work-from-home culture due to the rapid spread of coronavirus. 20 per cent growth in viewership across several over-the-top (OTT platforms) stages are also noticed.
Coronavirus’ impact is exceptional and uncommon. As we got restricted in the proximity of our homes, we all switched toward OTT for entertainment. OTT platforms were making a place for itself in the Indian market. The crisis gave a push that increased viewers’ appetite for online content. The pandemic got India got to screens like never before. The time spent on it had increased by 6 percent in 1 week, and breaking all records. Which was the 21-day lock down announcement by our honorable Prime Minister, Narendra Modi, that was viewed by over 197 million viewers.
The shift OTT is the future and has become the next go to mode, as outdoor entertainment isn’t accessible and news channels on television have run out of content. This unexpected situation has created a major shift in viewership within a short span. Platforms like Netflix, Zee5, Amazon prime video, AltBalaji, Voot select and more have witnessed a rise in subscriptions and paid viewership during this lock down. The viewing time has also increased by over 50 percent with Daily Active Users.
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The growth OTT platforms
With technological changes taking place everything is available on a click around the globe swimmingly. As per recent reports, the last decade has seen a rise in video-on-demand (VOD) consumption with the year 2019 itself. Seeing a 140% increase in countries like India, Australia, Thailand, Indonesia, and South Korea. The number itself shows consumers desires and aptitude towards online content.
The lock down period has indeed scaled up the OTT content consumption game which has witnessed a steady growth throughout and will continue to do so. Thought the growth is for a phase right now, this lock down phase will act as a stimulant in changing the content consumption habits of the audience. To some extent while making some of them the devoted believers of original content” says Divya Dixit. Who is the Senior Vice President – Marketing, Direct Revenue & Analytics, ALTBalaji .
The OTT market has revolutionized the way content is constituted, delivered, distributed, and streamed. People constantly want a variety of content, and OTT pampers this expectation splendidly with the enduring and chronic additions of varied content. The lock down has led to more people inadvertently realizing the availability and advantage of OTT. Which has already created a shift in the way content is consumed on a day-to-day basis.
The real time shift
The COVID-19 outbreak has brought the normal day-to-day activity and action of the industry to a dead end and halted all the shoots for the time being. With no new episodes coming out, the challenge is to meet the daily entertainment needs of the consumers and offer them fresh content across the various genres.
There is a range of content available in Hindi, Korean, and other regional languages. The extension of numerous features has made exploration simpler and updated the recommendation engine which has made content analysis instinctive. OTT is giving viewers fresh and new content which is making them spend more and more time on online streaming applications.
This sector has remoulded the entertainment industry and will continue to be ever-evolving. Due to the humongous potential for consumer-centric, custom built content made. People are now watching TV for all seven days with an increase of 47 per cent viewership. India’s streaming market is one of the largest and speedy-increasing in the world, and at the same time. One of the most resistant to penetration from global players.