Experts suggest that, with IPL being postponed and theatres remaining closed due to COVID-19 pandemic, OTTs and other online content platforms will see a boom.
Most of us would have by now made a list of activities with low risk of contracting the novel coronavirus. There is no doubt that this list will not have activities like going to theatres or eating at restaurants.
So, that leaves us with fewer options of entertainment.
While at home, what is it that you can do to forget all worries, relax and be entertained?
There are plenty of options, from Netflix to Amazon Prime and any other videos on demand platform that offer entertainment for which you will not have to leave the safety of your home.
"With the disappointment of Indian Premier League (IPL) being postponed, OTT and other online content platforms will be the only space to boom. People will catch up with series, movies and podcasts they have missed and explore new content. A lot of the content on YouTube will see more traction, especially children's content as parents will try to find a way to keep kids indoors and busy,” said Shakir Ebrahim, Founder of GoBisbo Broadcasting Network.
According to a 2019 report by Eros Now and KPMG, the average time an Indian spends on OTT platforms is 70 minutes and the average frequency of access is 12.5 times a week. An average single session duration is 40 minutes.
This data shows that Indians are already spending considerable time watching online content. With less entertainment options, there will be more growth in viewership for these platforms.
Highest video OTT consumption in metros
It is also important to note that in many major markets like Delhi and Bengaluru, theatres have been shut down as a precautionary measure as the fears over COVID-19 pandemic escalates.
Metros are important markets for the OTT players. The time spent on video streaming platforms is the highest in metros which is around 9.8 hours per week, according to the report.
Age is no barrier for online content
It is not just the young viewer who are accessing online entertainment content.
If the age group 15-24 and 25-36 spend 8.2 hours and 8.3 hours every week, respectively, on a video on demand platform, then other age groups are not far behind. The 37-50 age group, and 50 plus are spending as much as, 8.2 and 8.1 hours per week on OTT, respectively.
Will more Indians subscribe to OTTs?
Despite the growth in online video subscribers, which is expected to reach 500 million by FY2023 — making India the second biggest video market in the world — very few in India prefer paying for online content.
But, in this need for entertainment, can things change?
Will more people subscribe to OTT platforms now that film releases are getting postponed, shooting schedule of upcoming movie projects getting disrupted and sporting events are getting cancelled? Only time will tell.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
