RISE IN BUISENSS OF OTT PLATFORMS

OVER THE TOP

OTT or nowadays to which we commonly refer as Netflix, Amazon prime or Disney hotstar , has certainly increased its market value over the period of time. Entertainment is a subject to which people from all walks of life fall a prey to, this is the erstwhile tool of many of these OTT giants. The urge to keep up with the trend despite the hectic work schedules has pushed many people to switch to these platforms. Day out at the movies is still a bucket list checkbox for many, thereby to keep up with the competition from people going out to watch and be ‘over the top’ many such customers move over to these giants. This inflow has created a substantial space in the market and lured many more with them. Who can miss out the comfort of watching a personal favourite just by sitting on a couch with a bag full of chips! Times changed and everything rattled out, the surge of Covid-19 hit the countries worldwide, and people got stuck at home. This was the most fruitful time for such business. To escape boredom and keep oneself engaged, a large number of people downloaded these apps for the rescue. This owed to these giants gaining so much popularity in a short span of time.

MARKETING STRATERGIES

Being a hot topic starting from taking subscriptions to discussing the newly released web series, people immensely devoted their time on these platforms. A much larger audience and a greater screen time, boomed their business, therefore proving the saying; ‘All is well that ends well’. To retain the potential customers, these platforms adopted an appropriate strategy amidst the hard times. Such giants often sign a deal with the , offering the producers to release their much-awaited movie on their site, this often attracts huge amount of the traffic. These giants attract people from all age groups, owing to the diversity in the content which they offer and in variety of languages.

A huge amount of time and investments go into structuring these strategies, therefore, attracting more people and retaining them is their main goal. This in fact, is the wholesome goal of any company budding to make its space in the market. Fulfilling one’s interest at the advent of another is what we call, killing two birds with an arrow. This phrase can be best put up as: Reducing the cost of the subscriptions, be it monthly or yearly or rather collaborating with other giant companies often satisfies the latter. Statistics and studies have shown that masses are attracted to that, which comes at a low price. These, tit-bits are exemplified by them, offering the same content at a lower price adds a feather to the cap, Afterall who doesn’t like having something that has a discounted price? These small yet game changing strategies have immensely helped these giants to maintain their leg in this competitive and ever demanding market