Over the last few months, demand for over-the-top (OTT) content platforms in India has grown multiple-folds given the country was put in a lockdown for more than two months. People are staying inside their homes more now. For most of the Indians, their only source of entertainment is streaming videos online. It is interesting to see big production houses partnering with the major OTT platforms to release their new movies and series through them. Now, as per a stat shared by the US-based software company, Brightcove, Indians are happy paying Rs 400 per month for purchasing OTT subscriptions — more on the report ahead.
More Number of OTT Platforms the Reason Behind the Stat
One of the key things to take away from the report shared by Brightcove is that Indian consumers are exposed to a considerably large number of OTT platforms when compared with what the users in Bangladesh or Pakistan get exposed to.
There are around 40 active OTT platforms in the country, and it means that Indians have the luxury of testing multiple platforms to get a sense of which platform is good and which isn’t. This further increases the chances of people willing to pay for two or three high-quality platforms rather than going for multiple low-quality ones. But this won’t be the case when countries like Bangladesh or Pakistan are concerned as the consumers won’t be ready to pay higher amounts for OTT services until they have tried better or worse ones.
Also, as mentioned in the report, 60% of the respondents who participated in the survey found new OTT platforms and its content through social media. Another thing highlighted in the report was the use of ads by the OTT platforms.
Around 33% of respondents said that watching ads are acceptable when they are paying very less fee or no fee at all. Whereas, only 24% of people said that they are willing to pay more in return from being exempted from watching ads.
Adding to this, 64% of the respondents expressed that they would prefer a monthly subscription over the yearly one. Also, around 55% of the respondents had subscribed to more than one premium OTT platforms.
