Last few years have witnessed, OTT platforms creating a ripple in Media & Entertainment industry worldwide. OTT platforms have altered audience content consumption, payment habits & prevalent content creation. It will be interesting to know the next wave of OTT and its impact on prevalent linear TV model.
My experience in the dominant TV industry and new kid in the block – OTT can be summarized as:
OTT industry is set to evolve
There is no second thought on the fact that OTT business is set to swell worldwide, but there is a definite consideration on who will be the dominant players and their respective market shares. This business is set to consumer heavy investments in its foray to create a wide audience pool.
The nature of this business would compel dominant players to explore ‘Hybrid’ models (SVoD + AVoD audience base) as there is certain cap on SVoD consumers. Hybrid models are advantageous for both audience as well as advertisers, since it will always be perplexing for the business justifying their VAS offerings.
The future has two striking possibilities:
- Consolidation of services / offerings, favouring the audiences
- Rise of theme specific offerings, targeting niche audiences
Consumer is the King, plentiful choices
OTT growth is fuelled by attractive content to lure more audiences. This race has put the consumer in the centre-stage making him the King. Both TV & OTT would get in a tug-of-war to outbid the other, thereby empowering the audiences; in-turn increasing the pressure on content creators.
Audience demands would keep evolving and demand for exclusive and niche content will be at its pinnacle. This would be the only driving force for SVoD business.
Best times for content driven by OTT players
Audience demands have been met by broadcasters, OTT players, studios and production houses with the influx of superior-quality shows/movies. OTT audiences have witnessed shows dwelling into Historical, Thrillers, Super-hero franchises and a peek into various dystopian worlds. TV channels have at the same time stuck to the usual daily soaps. International content from Korea, Turkey and Telenovas have wide acceptance across the globe. As can be seen there is a wide range of content available for the audience. Finally what matters is the right content mix to target a certain diaspora of audiences.
This is only the beginning, coming times would only be as enriching as can ever be expected. Increase in competition and a competition to grab the maximum audience eye-balls would fuel creation of some high-quality content.
It is a Wait-n-watch times, as the next big chapter in the Media & Entertainment industry unfolds.
- by Sachin Kamble
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