The coronavirus disruption forced the world to realign and online streaming platforms saw a massive boom as it brought millions of new users to the several platforms. As per Media Partners Asia, a research and consulting firm, more than 60 streaming services in India spent a total of over ₹5,100 crore in 2020, and this will also see an increase of over 25-30% higher spend
Over the past year, video streaming companies have been expanding their budgets and strategies for 2021 as they are now looking to expand to encompass more regional content in a bid to attract small-town users. For them, this is an opportunity to generate new business models.
It needs to be mentioned here that SonyLIV’s Scam 1992-The Harshad Mehta Story emerged as the most-liked Indian web series of all time. Not only this, documentary viewing saw an increase by over 100% on Netflix in 2020 when compared to 2019. Few of the shows that really did well include Bad Boy Billionaires, The Social Dilemma and Money Heist: The Phenomenon.
Amazon India has been churning out original content for the Indian market and now, India has emerged as the world’s most exciting streaming markets. The country now has one of the largest Amazon original production slates among all the countries across the globe. It includes 55 Amazon original series that are in various stages of development. Also, there are 31 in various stages of production, as per a report in Livemint.
What has really worked for OTT platforms is the allocation of bigger budgets that have helped the emergence of new writers, actors as well as production houses that are willing to take experiments and produce content that did not have many takers in a typical Bollywood structure.
Originality and stories that narrate the tale of common man promises to keep us all hooked even this year!