An OTT or Over-The-Top media service is a streaming service that is available directly to the viewers via the internet. As theatres across the world are facing a challenge because of the Covid-19 pandemic and the social distancing norms, OTTs are now the major players in the field.
The theatres have been closed over a few months and we have no clue as to when they would be re-opening.
Even if they did, we don’t really know what the future of theatres is going to be.
Since we have to be careful about social distancing, it would be hard for the theatres to even function, if those rules are to be complied with.
Today, many movies are releasing across the OTT platforms and viewers are able to enjoy new movies from the comfort of their homes, not having to worry about going out and maintaining social distancing.
Many movies are now ready to be released across various OTT platforms such as Netflix, Amazon Prime, Disney Hotstar, and many others.
Some of these movies were primarily meant to be released in such platforms, but most of them were meant to be theatre releases.
If the theatres don’t reopen soon, these movies would also be forced to go digital; which might affect the experience that they were meant to give out.
Earnings of OTT from Movies During Pandemic
As per reports, the movies are generating good revenue. Many movies were reported to recover more than their budget. For instance, ‘Gulabo Sitabo’, a movie that was recently released made over 65 crores when its budget was 30 crores.
One might argue that these OTT platforms are overpaying the movies. But if it is done with an aim to attract more people to it, they are definitely doing a good job.
Day by day, more and more people are attracted to these platforms and the subscription levels are going up daily.
A study has confirmed that 61% of the consumers are now streaming more than they used to. The time spent on video surfing has increased to about 4.2 hours per user per week.
How everything will turn out?
We are curious to see how the numbers will be affected once the theatres reopen and everything goes back to normal.
But since people are used to the comfort of the OTT platforms, there is no denying that at least some of them will definitely be choosing it over the theatres; for the convenience or considering the safety.
The modern-day multiplexes have become unaffordable to the common man nowadays and it is to be seen how everything will turn out now; given that they now are aware of an alternate choice that would help them in saving quite a lot of money.
Today, mobile phones and the internet is easily available to everyone and it helps them enjoy movies together and in a much cheaper rate and in an easier manner.