Mumbai: The OTT business in India is buzzing with new streamers, niche, and language offerings. However, early players are struggling as heavy content spending isn't matching revenues, and India-specific low pricing hasn't spurred subscriptions. Growth has plateaued as consumers return to post-COVID normalcy, preferring to binge occasionally.
Adding to the churn is the shift towards AVOD by giants like JioCinema, offering premium events like cricket for free, with Disney+Hotstar following suit. This has strained streaming bottom lines. The rise of FAST channels is also causing industry jitters. Vidnet explores the future of the streaming ecosystem. The Vidnet 2024 is being held on 19 July 2024, at Hotel Sahara Star, Mumbai.
This panel explored the evolving content landscape with constant changes in production and distribution. The new 30-plus episode format on OTT shows (TV++) is seen as a game changer, while premium originals (6-10 episodes) remain popular among urban audiences. Increasing platforms and aggregators are expanding content reach and footprint. Audio content is also making significant strides. How can these strategies be assimilated to create an effective content platform?
The session was chaired by Boston Consulting Group managing director & partner Akshay Kohli. It included the following panelists: Shemaroo Entertainment COO-digital, Saurav Srivastava, MMTV head of digital & OTT Sathyajith Nair, Klassroom CEO Dhruv Javeri and Chana JOR, V Hunt Digital Media director & CEO Pratap Jain.
Emphasising the dual nature of content in the global digital landscape, Saurabh Srivastava said, "Good content can be language agnostic and appeal globally, but it also has a soul tied to local culture and nuances. Both will coexist, with some stories resonating universally and others deeply rooted in specific cultural and linguistic contexts."
Sathyajith Nair underscored the importance of genuine content that connects with audiences on a personal level and said: "Content should be genuine, focusing on its trueness rather than catering to a specific audience. Our strategy ensures that shows reach a Pan India audience by targeting promotions to individual tastes, as evidenced by a recent show reaching 98 per cent of PIN codes in India."
By staying true to the essence of the content, creators can achieve widespread reach and resonance across diverse regions.
Talking about educational content, Dhruv Javeri shed light on the distinct approach required for academic and extracurricular content. Javeri said, "In education, content creation starts differently. We have two types: academic content, defined by board standards, and extracurricular content. For academics, we write stories from the provided content and visualize them. The focus is on innovative pedagogies to enhance learning, aligned with the new education framework."
Highlighting the strategy of creating exclusive content to captivate and retain users, Pratap Jain said, "Creating exclusive content is key to engaging and retaining users, as opposed to relying on content available on multiple platforms. By casting new talents and producing fresh, simple content, we stand out in the market, similar to the appeal of popular YouTube videos."
