With the recent rise of online streaming services like OTT Platforms as a means of entertainment, many people have turned to them for an escape from their circumstances. Here we discuss how these platforms have become increasingly popular over time because of their ability to provide an escape for some people.
The pandemic and lockdown that took place last year had a profound effect on the world, with many people being unable to venture outside. This led to a rise in OTT platforms as people wanted something different from their entertainment options – they craved for a more convenient source. With the international pandemic causing lockdowns as well as work-from-home regimes, many have turned to online streaming services for entertainment. Theatrical Box office sales and traditional media are in decline because of this new trend. TD Film Studio investigates this new changes in trend in this blog post. Keep reading to learn more!
Significance of OTT platforms
In the past, video streaming solutions have typically been utilized as a new and innovative way to access TV shows. However today we are seeing major growth in their popularity– particularly among customers who use these systems for leisure or even professional purposes.
In 2021, this is expected to continue expanding with more innovation put into giving an unforgettable experience that will keep people engaged onscreen through interactivity and other techniques which utilize technology like never seen before! Streaming services have taken off in recent years, so it was not a surprise that they were one of the most impressive developing industries.
The rise of streaming platforms is an important signifier as to how media and technology are changing at such rapid rates. With the advent of post-Covid restrictions, when people are mostly confined to their residences for health and wellness factors, they could not get enough of on demand video clips all day. In spite of this condition being more common and prevalent in developing and third world nations, where there is much less internet access as well economic drawbacks, such modes of entertainment have grown in popularity, even when offered at an expensive price tag. Despite all these obstacles, OTT platforms have been making significant gains over the previous year or so.
With the ever-changing landscape of various media consumption, it is important to have a clear understanding of what’s going on. Streaming solutions made accessing videos from any type of device easier and OTT platforms are leading with lower pricing plans in 2021– but there’s still work ahead even for the top content providers like Netflix, that need to continue capturing customers’ attention by delivering high quality programming all year round.
The broader the appeal of streaming solutions has actually been, so too has been the demand and flooding in of new platforms being launched online almost on a daily basis! And one more important factor to consider is that unlike conventional cable and also satellite tv companies that offer a single set rate for all their channels, OTT platforms provide customers with much lower prices strategies if they purchase “packages” or subscriptions from them– and also offering the flexibility to watch any preferred program at their own leisure pace and preferred time, rather than waiting for the program to be aired on a pre-scheduled time.
With the rise of numerous OTT platforms, a variety of brand-new and also outrageous streaming options have emerged. For instance, you can now watch your preferred TV shows on any type of device– from smart phones to personal computers as well as TVs. But with this new wave in video clip consumption comes reduced prices strategies that could be hazardous for customers who do not know much about their service’s subscription plan or simply want an inexpensive solution without understanding what they’re acquiring themselves into.
At present, the highest demand is for children’ web content, and such contents are now extensively and readily available on all major subscription-based streaming platforms like – Netflix, Amazon Prime, Hotstar, Voot, ALTBalaji, Amazon Prime Video as well as Disney Plus. Industry experts anticipate a rise in the popularity for on-demand kids’ web content and it has made a huge impact in the entertainment space, mainly due its universal appeal as a wholesome and complete family entertainment source, suitable for all age groups.
Netflix has had remarkable success with their original content, producing a wider audience who not only enjoy the show they’ve created but are also interested in other shows and movies.
The company is known for its hit franchises like “House of Cards”, “The Witcher”, as well as “Money Heist”, “The Queen’s Gambit”, and “Orange Is The New Black.” These have helped build Netflix’s stand-alone streaming service to become something more than just another option among others out there, widening viewership globally which then led them to produce many new series that garnered even higher ratings from audiences around the world.
The real numbers for 2021 will just be readily available at the end of the year, but it appears that the numerous lockdown phases as well as adjustments in customers’ routine activities and way of life have certainly caused greater earnings. The lockdown has also offered substantial opportunities to streaming service providers, by enabling them to construct a bigger client base while increasing an accessible OTT platform for their original shows, films and web-series franchises.
Rise of OTT platforms in India
Over-The-Top (OTT) platforms are exploding in India. It’s a market that has been on the rise for the previous few years, and will only get bigger. India has actually seen a 50% boost in the variety of paid clients on OTT platforms. In addition, almost 90% of customers select viewing internet content in regional languages. As a result, broadcasters such as Zee5, Voot, ALTBalaji and also Eros are currently spending a huge quantity in developing initial materials in regional languages.
The paying for entertainment has changed in India with the growth of the net and also mobile phones, along with the spread of inexpensive data plans. OTT/VOD market value has presently crossed $50 billion in India.
Now that OTT platforms are becoming increasingly popular in India, it’s crucial for international and local broadcasters to actually customize their content in regional languages, especially since the Indian OTT market is also predicted to expand with about 50% of the country’s 1.3 billion populations will use smart phones by 2021. OTT platforms or Video on demand platforms have already been around for years but their market shares, based on various sets of research, were never even remotely comparable to that of traditional TV broadcasting. However, via new partnerships between telecom operators and broadcasters and the creation of more original content, this has changed drastically since 2019.
Regional language content is mostly bought from rights holders and distribution is through their own network. With regard to licensed material, there’s a significant amount of good which is becoming available in the market recently. A lot of standard operating practice players are also getting involved in this area. However, there are several challenges facing the growth of regional languages on streaming platforms.
Indians have actually become significantly more connected to the internet over the past couple of years. This is resulting in a surge in internet users, especially when it comes to younger people, who are digitally savvy. As a result they prefer on-demand content rather than watching television where they tend to lose access and choice of preference to contents, especially sports and reality shows.
Challenges faced by OTT Platforms
The increase in customers and overall intake has also resulted in some common problems for OTT platforms. One of these is the traffic congestion online. Internet bandwidth and server limitations have actually created congestion, which has resulted in web contents loading time and data transfer rates to slow down, especially at peak hours when most people are using their devices simultaneously online. This is posing a new challenge particularly for new companies launching their service platform in the market.
Technology revolutions such as the modification to 5G and also immersive innovation would certainly help reinforce public desire in streaming media.
The on-demand video streaming market has been growing at an alarming rate in recent times. Companies are fighting for a slice of the pie, but there is always room to grow.
The OTT industry may have started off small and simple, but it’s only getting bigger as more people sign up with their favorite platforms each day – all aimed toward creating the best possible experience for customers who constantly demand better quality content from these companies every single year.
The Future of the Movie Theater
Movie theaters have been among the biggest losers in the COVID-19 virus attack. The blockbuster film industry has too often become a cesspool of movie goers who don’t know how to conduct themselves properly in public.
It’s 2021. The digital revolution has shifted the focus of entertainment from physical media such as movies, music, and games to an almost purely digital format.
Movies are now delivered and downloaded online, movies now release a whole day early to avoid piracy. Video game companies release their games at similar times with lower prices. These actions were desperately needed after major corporations started taking drastic measures such as implementing Covid-19 restrictions and a ban on physical media.
The closure of so many movie theaters had prompted the government to provide financial reprieve, but it was not enough.
Several films which were expected to be released in the coming months have been delayed, some large production houses are pushing the release dates of their major upcoming films by more than a year now.
Movie theaters have been struggling for a while now. We’ve all probably heard movie theater attendance has been in decline since the 1980s and 1990s.
All the high ticket prices in theater in recent years can be attributed to increased costs for licensing first-run movies and rising labor costs per person. But since last year, the higher cost have been hard to be maintained. Despite the growth of 3D technology, attendance is still falling.
Production companies have started directly releasing their movies to online streaming companies, like Netflix, Hulu and Amazon Prime. If this proves to be financially beneficial for the production companies, it will spell doom for movie theaters throughout the world.
While most agree that the movie industry is currently experiencing a lull in popularity, it seems unlikely that these theaters could ever entirely disappear. Some have been closed indefinitely and many theaters are facing bankruptcy.
Is this is a situation of the pandemic killing the movie industry or is it another case of COVID-19 restrictions gone too far? Only time will tell.
OTT platforms are the future of entertainment
Online video streaming has grown as a mainstream entertainment medium. In light of the fact that users are continuously signing up with streaming services, various new service providers are also starting to find potential in this market. This is particularly noted in the case of OTT platforms. An increasing number of players are joining the scene, which can be a remarkable development for this industry. It is additionally crucial to keep in mind that this is not just about the streaming business anymore, given that immersive modern technologies have actually made huge advancement in the past year.
Netflix, Hulu and Amazon Prime Video are just 3 of the most prominent leisure on-line streaming solution worldwide. OTT has actually ended up being a mainstream media, with 91% of individuals obtaining leisure web content online in 2020 (and also 93% anticipating to do so by 2025). It’s expected that internet streaming solutions will take in 20% of every home’s tv and also video entertainment consumption by the end of 2021.
Online streaming has altered the true nature of video clip entertainment in the 21st century.
Various other methods, such as online gaming and also online education and learning, can additionally give chances for OTT platforms to increase their base.
The high need for enormous capacity to provide online entertainment has opened a multitude of opportunities in streaming solutions that provide easy access to video anywhere on any device, from laptops or smartphones to tablets and TVs.
The chance to consume content from a wide range of professional, high-quality and community-driven TV shows and motion pictures may develop the question of whether OTT platforms are going to end up being the means for individuals to enjoy premium quality cinema in the years to come. It has also raised issues like licensing, online payment and e-commerce issues as well as consumer practices, which are important for streaming industry’s future trends.
This is a market that is anticipated to expand in the coming years and taking an interest in its future trends and monitoring it carefully could be a smart idea for anyone and everyone related to the visual entertainment industry.
