OTT Platforms Rise in Past Years
OTT Platform is also known as Over The Top Platform refers to a platform where you can access contents of various films and television by using the internet without the traditional use of cable/ satellite.
REASON FOR RAPID GROWTH OF OTT PLATFORMS:
1.Adaptation of Western Culture
People started living in cities with small families and their source of entertainment changed gradually. From using traditional Television with the complete family to using the phone for entertainment, this is how the adaptation of western Culture affects the rise of OTT platforms.
2.Choices vary among different people
Different people have different choices, different opinions. For example, Alex’s family consists of five members. He is living with his parents and grand-parents. He wanted to watch his favorite cartoon but his father wanted to watch the news while his grandparents demanded some devotional programs. If they have one TV in their family, it’s impossible to fulfill everyone’s needs.
3.Convenience
The Best thing about the OTT platform that distinguished it from a normal TV set is that it is based on the following slogan:
“Anytime, Anywhere, Everyone”. With that convenience OTT platforms have increased their revenue rate.
4.Quality and Fresh Content
OTT platforms provide you options to watch anything you want. People are also getting attracted towards these platforms because they get tired of traditional TV Serial especially Indian Serial which is endless.
5.Streaming Before Television
Few TV Shows, as well as movies, are streamed on online platforms much before it is launched in normal Television. Hence for first show lovers of movies or any web series, it is the perfect platform to give new heights to their passion.
Some of the Leading and startup OTT Platforms are:
1.Disney Plus Hotstar
Disney Plus Hotstar is an OTT platform, which is famous among people for its IPL coverage. It is a company owned by Star India which is an auxiliary for The Walt Disney Company India. Hotstar is one of the best platforms for any person with any kind of choice.
2.ZEE 5
ZEE 5 is another leading OTT Platform owned by Essel Group with its subordinating unit Zee Entertainment Enterprises. Launched in February 2018, just like any other OTT platform, its contents are available in twelve languages and shows from ZEE Channels are also available with Dramas, Thriller, Crime. In 2019, Zee 5 claimed to have around 56 million active users. Also, it registered around an 80% rise in subscriptions during the lockdown.
3.AMAZON PRIME
Amazon prime, better for its web series like “Mirzapur” is an American Company. Its contents are available in foreign languages also including Dutch, Italiano, etc. If you are in India with the knowledge of the Indian language only, then you may get content in Hindi as well as in English. But unlike other OTT platforms like Hotstar, ZEE5, or Voot, you can’t get regional languages here. For web series lovers, Amazon prime is among their favorites. You can also enjoy Hollywood movies and shows here that attract viewers who are always fascinated by foreign shows. The latest marketing strategy of Amazon Prime includes launching mobile-only plans in India. They claimed that there was around 80% growth of Prime members in third-quarter of 2020 internationally.
4.NETFLIX
Netflix, one of the most popular OTT, is ideal for someone who is interested in International Shows. It is an american company with VOD( Video- on- Demand) business strategy. It is available in almost twenty languages including English, Spanish, Portuguese etc. The marketing strategy adopted by Netflix is one of the oldest but still the company is getting benefit from it. The company focuses on E-mail marketing with a ML and AI based system. Also, they are concerned about user privacy and hence they adopted Personalised marketing in which no two users will get identical homepage. During lockdown, Netflix reaches upto 16 million users in three months.
The future of OTT platforms is glorious. With new advanced technologies such as Artificial Intelligence and Big Data Analysis, users can be recommended for better content with the help of a recommendation system. China, South Korea, and Japan have already launched their 5G technology. It is expected that India will be the fourth in Asia to join the queue. There is no doubt that India needs this technology.
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