What will happen to entertainment industry if all movies release on OTT

Me having a conversation with my friend.

 

Friend: Hey, bro what’s up??

Me: Hii..!! All good, you tell?

Friend: I’m good too. Have you seen that latest movie?

Me: Nahh!! Bro was busy with work all week didn’t make up to the theatre. 

Friend: No worries man. You can catch the movie now on Hotstar too. It is now streaming there also.

Me: Wow, Hotstar saves me every time. Feels like cinema is longer operate by schedule.

 

We all are somehow very much familiar with the above conversation. Especially a person who doesn't want to restrict itself around a clock for something, when that can be easily available around the corner.

 

It was all yesterday only, that the OTT platform makes its access into our lives and now becomes an indispensable part of our life. That without it our entertainment life will be a little less effective.   

 

A report by KPMG suggested that on an average every OTT platform user in India spends around 20-50 minutes on the provided OTT platform to feel relaxed and cheer up his day. 

 

Now there are many speculations about the future of OTT entertainment. Will the OTT platform overtake cinema charm in the coming future lifestyle? Will OTT replace the cinema? What are the effects of the pandemic? Especially, in a post-COVID-19 life where people are afraid of meeting people. 

Before discussing that, let us discover what OTT exactly is?

 

What is OTT?

 OTT stands for Over-the-top. It is a medium of providing film and television content to the viewers through the use of high-speed internet connectivity instantly over the smartphones, tablets, TV’s, laptops of the views without any link to the cable and satellite. OTT has detoured all the traditional ways of delivering entertainment i.e. cable and satellite television platform to reach the viewers directly. 

Therefore, now when you are getting bore during any travel or while waiting for someone, open your phone click on the respective OTT application you use and bang..!! Your favorite originals, web series, and movies are available.

 

That’s how OTT has changed the definition of entertainment from, “Yahan, esh Waqt” to,” kahin be, Kabhi be”.

 

Evolution of OTT?

 Whenever there is any new concept that comes into existence in the form of a start-up, it never knows its full potential. Just like a new-born baby, it is very fragile and simple. It is only with the time it evolves and takes the shape of a strong giant that decides the trend for the market.

The following is the sequence of OTT platforms in the country.

 

Top players of the OTT industry

A Decade back there's only a few OTT platforms that were entertaining the viewers. Now there are plenty of fishes in the markets. The viewer is the real king, who gets to decide which platform they prefer to watch movies and series. However, the following are a few platforms that are very popular in providing streaming services.

• YouTube
• Netflix
• Prime videos
• Hotstar
• Sony Liv
• MX player
• Zee5
• Voot
• Alt Balaji
• Eros Now

Pandemic boosted the growth of OTT platforms

Ever since the OTT became a popular mode of entertainment because of its very distant feature, “Kahin be, Kabhi be”.

Its market starts to expand remarkably, in a report by global accounting firm PWC, the global revenue of the OTT industry will attain $72.8 billion by 2023. The report also granted an insight into the fact that the growth is aggressively progressing in the under developing countries rather in the developing countries. Also, India is one of the emerging markets that will stimulate the maximum digital growth in the coming future.

Pandemic hit the world like a very bad dream. It is valid at least for some industries and the entertainment industry is one of them. As all ongoing shootings and releases being delayed. But every crisis has in it a silver lining, amidst of all this, there is a sky rocking growth of OTT platforms across the country.

In a world with extended lockdowns and rising outdoor restriction. OTT seems to take charge of everyone’s entertainment life.

Consider watching new release of the movie in your comfort zone, being new normal in the post corona world of entertainment.

It has been for a couple of months now that cinema complexes are locked. People who used to watch new movies every second weekend don’t have anything new to watch, as all cinemas are shut. However, several upcoming movies have also been forced to hold back their release dates. This created a big financial crunch for the entertainment industry and leads to the loss of revenue. The estimated loss industry suffered is around ₹1.3 trillion i.e. 16% of this fiscal year 2021 as rated by domestic rating agency CRISIL. 

However, as we have discussed earlier every crisis has a silver lining. Here OTT platform comes in the rescue of the entertainment industry. Till, the date almost 9 movies have been released successfully on an OTT platform i.e. Gulabo Sitabo, Mrs. Serial Killer, Ghoomketu, Chintu ka Birthday, Choked, Maska, Bamfaad, What Are The Odds.

How OTT is a good platform for the future release of new movies?

Right now, OTT is making its way to reach millions of people, using very suitable and reasonable means. There is no doubt, that soon it will set the trend in the market for the entertainment sector. 

The following are some of the things we can think of as a positive effect of OTT in the environment.

• It will open up a non-bias platform for many of the outsiders to reach millions of viewers. As we have recently seen so much disturbance in the filmy industry regarding “Nepotism” and the dominance of a few individuals who tries to suppress fresh talent and snatch opportunities. OTT platform will be a great opportunity for those producers and artists to shine.
• Demand for quality content will be more than ever before. As more viewers are involved on the platform. “Word-of-Mouth” will suppress all haters and outshine the greater.
• Those who do not have excess to the theatre will be able to follow the latest movies and series from their places. This situation is very much applicable in the rural and interior parts of the country where connectivity still making its way.
• Creators can make millions within a few weeks of release. As earning will go hand in hand, from both theatre and OTT.
• The risk of piracy will reduce to a greater extent as when original is available at an affordable price. Why go for the 2nd-grade product.

How OTT platform is bothering cinema owners?

Amidst, of all the positives of the OTT platform. There is an intense battle going on between the theatre owners and the OTT players over the release of the movie. It was a new experiment to release several movies on the OTT platform during the spread of novel coronavirus. But, on top of that what was more surprising, was the response from the viewer's end. As viewers are more acceptable to this new change in trend. Now several producers decided to use the OTT platform over the theatre to release their movies. Rather than holding and waiting for theatres to get open again.

Movies like Dil Bechara starring Sushant Singh Rajput, Laxmmi Boom starring Akshay Kumar, Big Bull starring Abhishek are all set to release on a small screen. Seeing this change in the trend, many theatre owners and Multiplex Owners Association are actively discouraging filmmakers from the release. As it will trigger the change in consumer behavior and cause the death of cinema. Also, when big stars like Akshay Kumar, Abhishek Bachchan support OTT release it might open flood gates for others to follow.

However, at the same time, many experts believe that nothing can take the place of cinema life experience. Also, the moments we share while watching movies together on the big screen. 

Also Read:

The Great Depression 2008 Verus The Great Lockdown 2020

Conclusion

This is just a short-term change in trend once the circumstances will be near to normal. Theatre and OTT should share the stage. As they both ally rather being a foe to each other. Also, there is no doubt that OTT is indeed a revolutionary idea which already started making its impact on millions. 

If you found this blog useful surely let us know in the comments. 

Subscribe to Us to get the notification of the latest blog.

Will also love to read if you have any facts to add up. Write to Us or comment below.