The Indian shoppers had been earlier used to solely watching movies and TV sequence however within the final couple of years, additionally they obtained habituated to consuming net sequence and mini-series. The pattern picked up after the success of the primary season of Sacred Video games (2018), starring Saif Ali Khan and Nawazuddin Siddiqui, and it accelerated in the course of the lockdown. Although there are stories of the expansion of subscribers plateauing and streaming giants preferring high quality over amount, the very fact is that some huge cash continues to be pumped into making authentic content material. Final month, a report in The Financial Instances said that the six predominant OTT platforms in India spent between $600 million and $700 million on producing exhibits in 2022. In different phrases, these gamers invested between a whopping Rs. 4968 crores and Rs. 5796 crores to make new content material within the net sequence format!
These prime six platforms are Amazon Prime Video, Netflix, Disney+ Hotstar, Sony LIV, Zee5 and Voot. The quantity talked about above excludes cash spent on making authentic motion pictures or funding achieved on sports activities content material.
A supply stated, “Curiously, 2022 is when Netflix co-founder Reed Hastings confessed that the dearth of development in India is irritating. It’s additionally frequent to listen to this yr that subsequent seasons of in style exhibits have been cancelled by totally different OTT giants internationally as a consequence of sensible elements.” In October, Bollywood Hungama even reported that the streaming platforms have stopped shopping for movies for direct-to-digital launch with the identical regularity as they used to do in 2020.
One other supply commented, “However on the similar time, the platforms don’t wish to minimize down and wish to proceed funding exhibits and flicks, as there’s potential. This retains the hope alive. This was evident by the grand occasion held by Amazon Prime Video in April 2022 whereby they launched 40 new exhibits and movies in Hindi, Tamil and Telugu. Even Netflix has made grand bulletins and all of the plans are on.”
The Financial Instances report additionally said an estimate by Media Companions Asia that the net video content material funding in India is $1.3 billion in 2022 and that it’s anticipated to extend to $4.2 billion by 2027.
In the meantime, there was a development in subscribers in 2022. As per Ormax OTT Viewers Sizing Report 2022, India has 13.20 crores SVOD (subscription video-on-demand) audiences. The quantity stood at 11.50 crores in 2021.
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