Broadcasters align TV content, OTT strategies
PremiumWith an eye on exponential growth in SVoD, OTT platforms are rejigging their plans
When the news broke that Viacom18 will stream its popular reality TV show Bigg Boss on its digital platform Voot six weeks ahead of its TV debut on Colors, it seemed online audiences will see it before TV viewers. As it turns out, Gourav Rakshit, chief operating officer of Viacom18 Digital Ventures, has created two entirely different shows. The one for Voot audiences will have a six-week run with its own finale and winner. “Some participants may make it to the Bigg Boss Season 15 on Colors. But that’s a call the creative team of Colors will take," he said, stressing that the shows are independent of each other, and Bigg Boss OTT has been made at a “huge" additional cost.
In the past couple of months, even Zee has exclusively premiered Friends: The Reunion—the special episode featuring stars of popular American sitcom Friends—on its digital platform Zee5 first. It later aired the show on its English TV channel cluster, including Zee Café, &flix and &PriveHD.
Clearly, traditional broadcasting companies are no longer treating their streaming services as just a platform to catch up on missed TV shows. They are building what they call a symbiotic relationship with their digital platforms with well-thought content strategies. Rakshit said Viacom18 firmly believes in the ‘digital first’ strategy and taking Bigg Boss exclusively on digital first is a leap of faith. “Digital is certainly the largest growth driver for us. The faster we get digital right, the better it is for our ability to deliver back to TV and we reach this symbiotic relationship between media channels," he said.
That over-the-top (OTT) video streaming in India got a tremendous push during the pandemic-induced lockdowns is no secret. A recent report by RBSA Advisors said covid accelerated the shift in consumer behaviour and advanced OTT disruption, which may have otherwise taken at least five years. A PwC report on global entertainment and media outlook 2021-25 said advertising and subscription growth will drive the OTT business in India to hit $2.9 billion ( ₹21,589 crore) from $1.3 billion ( ₹9,678 crore) in 2020. It projected a big jump for SVoD (subscription video-on-demand) services, which is estimated to grow from $1.2 billion ( ₹8,934 crore) to $2.7 billion ( ₹20,102 crore) by 2025.
With an eye on this exponential growth in subscription-led SVoD, OTT platforms are rejigging their plans. Programming expert and CEO of Applause Entertainment, Sameer Nair, said younger audiences, urban and small town or rural, are mobile- and OTT-first, so it makes sense for broadcasters to premiere popular and addictive content first on OTT, both to help build and consolidate the streaming habit, and to also create an alternative SVoD revenue stream.
Mihir Shah, vice-president of research firm Media Partners Asia, agreed: “These are additional hooks to get subscribers. The ad revenue growth is undoubtedly under pressure. The only other way to build revenue is to get more paying subscribers."
Content creation requires constant innovation and adaptation to rapidly changing audience consumption patterns across both screens (linear and streaming) and across consumer cohorts, said a Zee spokesperson, adding that the company was driving an integrated content strategy. “Our focus is to increase the value proposition of our SVoD service, which will be achieved through a combination of compelling, culturally rich content, targeted at consumer cohorts like millennial OTT natives, women with individual content needs and AVoD upgraders, etc.," he said. AVoD refers to advertising-led video-on-demand services, which make money from advertising, but users watch the content for free.
Nair argued that the ‘and’ philosophy of co-existence of TV and OTT does mean that the same content will eventually cannibalize one or the other revenue streams. “Original and/or exclusive content is key to driving viewership and revenues," he added.
Interestingly, though Voot will offer distinct content to paid subscribers (such as 24x7 live feed from the Bigg Boss house) from what it will serve free users, and the fact that its TV show will be different, Rakshit doesn’t think cannibalization is a threat. Giving viewers more opportunities to consume content increases the pie. “Holding on to one channel or platform reduces the level of buzz and engagement around it," he said.
Shuchi Bansal is Mint’s media, marketing and advertising editor. Ordinary Post will look at pressing issues related to all three. Or just fun stuff.
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