Over-the-top, or OTT, platforms are audio and video streaming sites. They began as content streaming channels but soon transformed into a creator and distributor of short films, documentaries, motion pictures, web series, etc. In other words, OTT platforms are like the offspring of the internet that lets you stream movies, series and TV shows on your smart devices. With the gaining popularity of these platforms, it has been estimated that the OTT video streaming service market size may expand to a whopping 4000 crores by the end of 2025.
- There are currently 40 providers of OTT services in India.
- The first Indian OTT platform was BIGFlix, a subsidiary of Reliance Entertainment, launched in the year 2008.
- These apps work on the principles of Artificial Intelligence and suggest content to the user as per their previous browsing history.
- OTT platforms have certain free content and certain payable content for which users need to pay a monthly subscription fee.
- OTT platforms in India are quite close to overtaking cable TV networks.
- OTT platforms gained popularity in India with the launch of Ditto TV and Sony Liv in the Indian markets in the year 2013.
- As per statistics, India currently has 350 million users and is estimated to attain up to 500 million users by 2023.
Understanding the Operation of OTT Platforms
OTT, over-the-top, services are media services streaming of video content via an app or website, using the internet, unlike the traditional distribution networks like DTH or cable. To stream into it, one needs an internet connection a compatible hardware network which can be any smart gadget like a mobile phone, tablet, laptop, etc.
Rise of OTT Platforms in India
Online streaming through OTT platforms increased in manifolds with the onset of the lockdown induced by the COVID-19 pandemic. Previous to that, India had a niche market for OTT users. Many users switched to OTT platforms, especially due to the shut down of cinema halls and other entertainment mediums during the pandemic lockdown period. This paved the way for movie releases on OTT and the increase in the popularity of OTT platforms in India immensely.
FAQs on OTT Platforms in India
Q1. Why are OTT platforms gaining so much popularity?
Ans: OTT platforms can be streamed anytime with any smart gadget, and you do not have to wait for your favourite program to air. This is one of the reasons why OTT platforms are gaining popularity in recent times.
Q2. Which are the best ten OTT platforms in India?
Ans: The best ten OTT platforms in India are Disney+Hotstar, Netflix, Amazon Prime Video, Zee5, Sony Liv, Voot, AltBalaji, Jio Cinema, MX Player and YouTube premium.
Q3. How do OTT platforms make money?
Ans: OTT platforms generate revenue through subscriptions from their users. Additionally, they even earn money through ads and downloads.