OTT platforms were around for a decade, but people were so attached to movie theatres that those platforms were not given enough attention. But, last year, after the first wave of the pandemic, all those scenes changed faster than anybody could have anticipated.
Currently, none of us can deny that OTT is the fastest growing industry in the world today. Mainly in countries like India, the OTT market has boomed astonishingly with a significant rise in the fan base that reached whopping numbers. Even BCG estimates the OTT market will be worth around $7 billion by the next two years.
Although such significant growth seems surprising, some experts claim that it is just a matter of time. OTT platforms like Movierulz got to the public at the right time when people are eager to use them. When the pandemic struck the world in 2020, people were locked in their houses due to lockdown having no options for entertainment.
In such a scenario, the streaming platform came to the rescue providing a seamless experience suiting all kinds of needs at a reasonable price. Therefore, there was probably no turning back since then.
Nevertheless, now that the users are familiar with the immersive experience and luxury that OTT platforms can provide, most of them are preferring OTT over theatres. As a result, the worth of the OTT market is accelerating towards the sky.
The Digital streaming platforms boom after the pandemic
It was just a year ago when the digital streaming platforms were limited to live streaming sports content. There was a decent audience for the web series which was gaining popularity slowly among the mass audience. But, those platforms were just the entity to fill up the space that television networks left unfilled lately.
For instance, some sports channels started charging for their content thus leaving a sole way of looking out for a better alternative. Well, at this moment there indeed were platforms serving the audience with every genre besides the sports content.
Moreover, telecom operators and service providers were looking for the attention of the audience at such moments. Therefore, they started charging the plans aggressively for the content to attract and engage the audience as they want.
On top of this, mobile users grew significantly in the last two years possibly due to the emerging of innumerous smartphones. And, all those streaming websites and applications were made compatible with mobile devices. So, no wonder massive traffic was driven to them in a single attempt amidst a pandemic.
Influencing watcher’s habit and future-proofing
Digitalism was slower before the pandemic, but with the rise of those streaming platforms, it has grown as a habit today. So, it is right to say that we entered the digital era faster than we expected only because of a pandemic.
In such a favorable scenario, every digital platform indeed wants to future-proof their business, which is why they have expanded their reach. Not only towards the targeted audience, but also towards the movie makers and series productions to take over amidst pandemic.
Now, multiple movies are released on OTT platforms directly and the growth of the platforms is on a rampage. Those numbers are expected to grow even faster as Hollywood movies have also entered and the latest releases are stepping into digital platforms before television channels.
Well, the web series trend is catching up faster as people are into binge-watch now on weekends. As a result, independent creators are now geared up to meet the requirements of the targeted audience and thus making the web series content more attractive and engaging.
Therefore, OTT platforms are undoubtedly the future even if the theatres open up as the public is already stuck with their benefits.
Interesting related article: “The Impact of Sports Streaming.”