OTT stands for over-the-top and there is everything over the top about these platforms. The OTT service user is given uninhibited access to entertainment, endless and ubiquitous. It is the freedom and flexibility of choice of unprecedented nature that has driven OTT solutions to the top slot of the best entertainment enablers available in the present times.
OTT is not a concept in the infant stage; BigFlix gave the world a sneak peek of the present times long back. But, the emerging technologies, new situations, increasing competition, and of course, the ‘new normal’ set by the COVID pandemic, have pushed the OTT solutions to the forefront of the entertainment scene. It will not be an understatement if we call these solutions the entertainment medium of the future.
With the emergence of various OTT solutions belonging to various types, the place has become populated enough to allow us to pitch one against the other and pick the one that stands out in almost all the aspects. In this post, the solution that has beaten all other propositions is – Own & Operate your platform.
Why the OTT service providers in India are after own & operate business model?
The very first emotion that Own & Operate your platform oozes is that of complete freedom. The entertainment providers with people, money, and technology have no reason to not put their best foot forward while transforming into an OTT brand. Own & operate modality serves the OTT service providers in India in the following ways:
- Gives an extended platform to run their in-house content.
- Allows them to sign mammoth deals with other content contributors who need a platform to display their content in lieu of the readymade viewership these offers.
- Allows the entertainment providers to use their enriched experience and customer relationship strength in producing content that will sell, for sure.
- Allows having technology that complements the content the best and delivers an ultimate experience to the viewers.
- Helps the existing entertainment providers to become future-proof and align the business with emerging user expectations.
- Allows attracting that audience, which was impregnable to date due to difference in the content delivery package and content consuming style. No one will be able to say ‘no’ to entertainment that reaches them, on-demand, at the place of choice, on the device they love using the most!
Which are the best Own and Operate OTT Platform owners?
The ‘own and operate strategy’ is being followed by many TV channels that now see OTT service as a survival strategy. Some of the highest-grossing OTT providers in India who own and operate the platform are:
- Alt Balaji: It is the OTT platform of Balaji Telefilms. This OTT claims to have the richest content collection comprising several TV series, web series, movies, and other consumables. The owners have recently partnered with Zee5 to co-create content and expand the OTT service platform’s offerings.
- Eros Now: With 36.2 million paid subscribers to count, this OTT service owned and operated by Eros STX Global Corporation is eyeing more enriched content. Recently, it has announced the OTT industry’s biggest content schedule comprising 33 film releases and 13 Web originals. Source
- SonyLiv: It is a video-on-demand OTT, owned and operated by Sony Pictures Networks India Pvt Ltd. This OTT platform partnered with Viacom 18 to merge Sony Liv and Voot content and create an engaging content pool for the consumers. This merger was reported in August 2020 and is expected to provide both TV and film entertainment and sports entertainment in one place. Source
- Amazon Prime Video: It is one of the largest OTT platforms owned and operated by Amazon, the biggest online retailer in India. This OTT service is showing added aggression in penetrating deeply into Indian markets with Jeff Bezos, the Chief, announcing the doubling of investment in the Indian market. The OTT platform is doing a phenomenal bit by announcing a rich slate of original content in various Indian languages. Not only Indian content, but various originals in other languages of the world are also being produced and a high number of projects are in pipeline too.
Future of Own and Operate OTT platforms
The road ahead looks all the more promising. COVID pandemic has helped the OTT platforms earn the respect and the fan following apart from huge budgets needed to keep growing sustainably. The owners, therefore, are now given the task only to keep on reinventing their spaces with newer engagement solutions.
Also, the applicability of classics of marketing like push notifications, secure payment support, social media plugin, and others allows the platform owners to use their existing strengths to apply in a new game.
With about $5 billion market size expected to be ruled by OTT service providers in India by 2023, according to NASSCOM Report, there is no doubt that these platforms are here to stay and thrive.
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