Introduction:
OTT platforms witnessed rapid growth during the Covid-19 pandemic. This superfluous adversary stepped into the lives of the populace around the globe. This resulted in the people being forced to stay at home, creating panic situations. It cordoned every social/ economical activity. It spread its feathers to the block of every commotion of our lives. It completely changed the landscape of our day-to-day lives.
Businesses were closed raising unemployment, death rates took a rapid increment, transportation was halted, and the list goes on. Nobody in this world has ever thought of living such a lifestyle. People got the feeling of being jailed, becoming jobless, and performing the eat-sleep-repeat prototype.
There was a list of odds amid the Covid-19 situation but there was some business that blossomed during the Covid-19 reign. OTT platforms are seen to experience a rapid augmentation after the lockdown was executed as most of our social/ economical goings-on were congested and resulted in seeking something for entertainment. In this article, we will review the rise of the OTT platforms during the Covid-19 era.
The rise of OTT after the lockdown:
The over-the-top or OTT platforms mushroomed during the Covid-19 period and after the lockdown was imposed as people around the world were reluctantly forced to stay back at home. People had no toil to perform, so they were in search of something for their entertainment and this had resulted in increasing the graph of OTT viewers and subscribers. An overall 20% growth in the OTT platforms, 20%-40% increment in subscribers were visualized during this period.
In India, OTT platforms like Netflix, Disney+ Hotstar, Amazon Prime, etc. have experienced unbelievable growth in terms of viewership and subscription. Over 40 OTT platforms provide live streaming services over the internet. It has disrupted our entertainment traditional methods of watching movies. It has changed our quest for entertainment viewing as it is contemptible and trouble-free.
Factors that affect inclination towards OTT:
OTT platforms have undeniably revolutionized our vision of watching entertainment in a big way. But the rise of these platforms is not just because of the Covid-19 pandemic as other factors supported their scramble. Some of the important factors are listed below:
- Broadband use: Broadband services play a vital part in amplifying the OTT platform’s usage as watching movies and entertainment shows have now become easier with high-speed internet. During the Pandemic era, most governments across the globe have understood the value of high-speed internet whether in medication or treatments.
This has given the rise to the acceleration of the usage of 5G networks. People can now watch their favorite TV Shows and movies without any network issues. Fixed Wireless Access (FWA) has made internet broadband usage more comfortable. So, people around the world are switching to high-speed broadband services and hence the number of OTT platform users is booming day by day.
- High-tech smartphones: Smartphone use has reached beyond the confines as most of our daily work is taken over by these smartphones. OTT platforms are easily accessible via smartphones where the user can watch any entertainment material at their own will.
Users do not have to hang around for a certain time or day to gaze at their favorite shows and films. This has resulted in the colossal percentage increase of OTT Platforms. Because their services can be easily availed and accessed from anywhere across the globe.
- Ease of access: OTT platform services are made flexible to attract more subscribers. Because they provide the full value of money and ease of access. Just a mobile phone with an active internet connection is required to watch your favorite entertainment material at your par.
No-time obligations are the other added benefits that make these OTT platforms addictive and it supplies full peace of mind and value for money to its customers. Users can also personalize the content that they want to see using these platforms.
- Lucrative pricing: OTT platforms not only supply content to watch but their pricing module is such that it can be easily afforded by any segment of people and from anywhere. People can watch a full library of content as per their requirements. They just pay a simple amount either monthly or yearly.
Amazon Prime Video is the most-watched and affordable OTT service provider in India. Their services can be availed by just paying 129/ month or 999/ year which is an amount that can be easily paid by anyone to benefit over 4K content. Users find it affordable as their services are cost-effective and hence OTT service providers have succeeded in attracting and retaining more and more customers. Thus, lucrative pricing schemes have facilitated the viewer’s count and subscribers of these OTT platforms.
Conclusion:
The digital era in which we are living where everything is getting automated day by day and the effect of the Covid-19 pandemic has sprouted to a new approach of quenching our entertainment thirst. During the pandemic lockdown, OTT platforms got a prospect to broaden their feathers. We can say that they have quite lucratively achieved their desired target.
