Impact of OTT on the Media Industry

Following the global outbreak, the world bowed before the fatal clouds of sneaky particles that engulfed crucial information resources under siege, bringing normal life to a halt. Around the world, the start of the worldwide lockdown sparked a wave of hysteria. The Digital Explosion delivered a breath of fresh air in the midst of it all.

Over-the-top (OTT) platforms are one such media that has gotten a lot of attention recently. People are staying at home due to social distancing, with services like Netflix, Prime, Hotstar, Voot, and others being the only source of entertainment. People now spend the majority of their time on these online streaming mediums, causing televisions to become obsolete.

Role of OTT during the pandemic

People were able to avoid boredom during the pandemic thanks to OTT services. OTT platform usage has climbed to 204 billion minutes in the last year, up from 181 billion minutes before the pandemic. There are numerous reasons for these shifts. Because they deliver distinct and different material, OTT platforms are more vulnerable to experimentation. In fact, according to PwC’s Media and Entertainment Outlook report, India’s OTT industry will grow to become the world’s sixth largest by 2024.On the contrary, television programming is largely consistent across networks. Viewers are required to limit their viewing to a specific genre. Different genres such as action, horror, drama, thriller, and comedy are available on online platforms. Youth are more likely to use these services to binge-watch genres that they enjoy. Unfortunately, television does not give viewers with such benefits.

Apart from the material on OTT, technological advancements have also resulted in the decline of television subscriptions. The introduction of options such as Smart TV and Chromecast has had the greatest influence on conventional forms of entertainment. Even if they are more expensive, people prefer OTT over TV because of its versatility. On these OTT channels, they can watch entertainment, sports, and live news. Hotstar, for example, is an internet platform where users can watch news and cricket at any time and from any location. Unlike television, this necessitates a certain set-up.

During the lockdown, however, we noticed an upsurge in television viewing as old episodes and epics that had previously built a fan base were rebroadcast. But this was only a fad. Nostalgia was the primary driver of this growth. These replays were closely watched by all Ramayan and Mahabharat lovers.

Advantages of OTT

Online platforms have the potential to be a platform for content creators to flourish and gain popularity in the future, as well as a great place to expand and build skills. Also, as the world becomes more digital, people will turn to OTT services for entertainment. It’ll effectively be seen as the ‘New Normal’ for weekend relaxation. Working professionals have more time due to the pandemic’s work from home culture. It resulted in a rise in the number of people looking for new content.

Everyone in a family used to get together and sit in front of the television to watch whatever was on the cable channel a decade ago. Today, however, you have the freedom to select your own show and device from which to share material with your group. Everyone has been affected by technology to some extent, and it has made life easier. You now have complete control over what you see and when you watch it.

OTT platforms aren’t just for entertainment; they also deliver health and fitness, as well as education, to a variety of audiences. As a result, individuals from all over the world and from various parts of a country (rural and urban) rely on OTT platforms more than anything else. However, in metropolitan regions, most people watch western or Indian films, and Amazon Prime, Netflix, and other streaming services are more popular. As a result, as you can see, OTT platforms have carved out a significant place in the hearts of everyone, from children to the elderly. The most important aspect to remember is that the OTT platform brings the entire globe to your smart phone.

Conclusion

Finally, the global pandemic has had a major impact on many of our typical leisure activities. As viewers, we look for options and pick the best one, which is exactly what OTT allows us to do. We have grown spoilt for choice as a result of the pandemic, and this is one of the main reasons why OTT has become so popular. The nostalgia of the Ramayan and Mahabharata can also be matched with OTT platforms such as Hotstar’s Shaka Laka Boom Boom or Netflix’s Friends reruns. Overall, OTT has been nothing short of a blessing for all of us, allowing us to spend more time with family and friends, as well as spend a weekend at home unwinding.

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