In 2016, Netflix came storming into the Indian market with tons of shows & movies. The trend of web-series came into existence and after this there has been no looking back. The ticket sales at the theatre windows has been taking a toll since the emergence of OTT platforms as the sublime experience of viewing a movie from the comfort of your home space is amazing.
Not only Netflix, but several other platforms like amazon prime & Hotstar have really become favorites among the viewers as they are getting a wide variety of options to pick from. These OTT platforms offer a staggering number of shows & movies to fulfill ones appetite for binge-watching.
This is the reason that the Indian media has also launched several OTT platforms like ALT-Balaji, Zee 5, etc. The digital viewing experience has opened several avenues for filmmakers & artists as well. Lots of people who have creative potential in them are making their mark on the OTT arena. The media has also declared that the future of cine-viewing belongs to the digital OTT platforms.
The OTT platforms offer diverse content & they have created havoc in the entertainment industry within a short span of time. Now, the cineviewers opt for waiting for a few days for the content to stream on OTT platform, instead of going to the theatres. This is a period of immense change as the dynamics of movie watching are changing rapidly.
As per statistics, the digital streaming platforms have ranked as the third-largest Indian Media & Entertainment sector in 2019 and this is sign that is stating that the entertainment industry is going through a huge change.
So, it can be safely stated that digital streaming platforms are the new normal for the audience.Further, due to the onset of corona, the growth in the viewership of the audience of OTT platform has grown in multifold. Since, the segment was already enjoying so much of attention; the pandemic has ironically proven to be a good time for OTT platforms. It can be safely stated that future of entertainment business belongs to the OTT platforms.