BY ROBIN GHOSH
(ECONOMIST)
KOLKATA, 12 JUNE 2023:
Now, dear friends: Forget OTT.
It is now Magical Interactive Application Apparatus( MIAA) Read the following:
1. Covid crisis greatly enhanced content consumtion and the subscriber base of OTT platforms in India.
2. In 2012, there were only 2 OTT providers. It is now around 70 OTT players.
3. In 2020, the subscription for video on demand platform reached 57 million, and it is expected it will by 2o23 it will reach 90 million.
4. Uptake of smartphone and internet have empowered customers to chose from a wide range of MIAA – you can now tap into any content, any time, any place on any devise of your choice
5. Production houses are going digtal.
6. OTT platforms increasingly moving towards direct to digital release with diverse content and innovative features.
7. Interestingly, Indian viewers have shown higher propensity to spend on premium and original content.
8. Customers have definite preference for veranacular videos. So far so good.
The meta challenge is – how do we monetize the opportunity and what would be the business model?