OTT platform eye 20% growth in viewers in'21 despite easing curbs

Film buffs may go to cinemas but they also have the option to watch the film on an OTT platform in a few weeks’ time in addition to exhaustive libraries of original and international content Video streaming platforms are expecting around 20% growth in viewership this year even as easing restrictions allow people to step out for outdoor entertainment. The large number of platforms and offerings available across languages and genres has increased the appetite for content consumption, executives at platforms said, on the back of cheap data packs and smartphone penetration.While engagement time has dipped marginally since the peak of the lockdown, investment in regional content and programming for small towns offer immense scope, along with under-utilized genres like unscripted shows. “The covid-19 pandemic brought a lot of new customers into the OTT category and they will continue to stick on, and not at the cost of other avenues because the overall time spent on entertainment has gone up and that trend is here to stay," said Ferzad Palia, head, subscription video-on-demand (SVoD) and international business, Viacom18 Digital Ventures. Platforms like these have not seen any slowdown since the lockdown and subscriptions are far from plateauing, Palia added. Overall, platforms have seen around 30-40% spike in paid subscribers over the past year, said Mehul Gupta, co-founder and CEO at SoCheers, an independent digital agency.The reopening of theatres will not really break the continuity, he said. Film buffs may go to cinemas but they also have the option to watch the film on an OTT platform in a few weeks’ time in addition to exhaustive libraries of original and international content. “With people being forced to stay indoors, OTT has moved from personal to family consumption. Looking at current trends, the next wave of growth in OTT platforms seems to be driven by hyper personalization of content across devices, platforms, and geographies," Manish Kalra, chief business officer, ZEE5 India said. The company, Kalra added, has seen an accelerated adoption of connected devices where three out of five SVoD users watched content via connected devices recording over 80% growth during covid-19.