OTT content has witnessed huge popularity among the audience, specifically after the COVID-19 pandemic. However, things have changed a little bit now since most of those shows have been receiving underwhelming responses compared to their respective first seasons.
The budget of the platforms has also decreased to Rs. 2,500 crores this year. The figure was almost Rs. 5,500 crores around three years ago.
The number of films and TV shows has also reduced to around 50 or 60 per year. Netflix made ten web series this year and the licensed films also reduced to 55.
Amazon Prime Video has already disclosed a lineup of 40 Original films and shows and Hotstar has been suffering from viewership issues for some time.
Hotstar has already created headlines after Disney and Viacom18 decided to merge and the process is expected to be completed soon. The film acquisition process has also witnessed a change, with only hit films being taken at a low cost.
Notably, none of the OTT platforms have shared a response related to cost-cutting.
Most of them have discontinued providing content frequently compared to how things were in the past. This has happened because of administrative and personal reasons.
On the other hand, it has led to more competition as most studios are working to implement new business models or planning to shut down. However, a few people linked to the industry are in support of cost-cutting.
Meanwhile, the OTT platforms continue to attract a huge number of audiences. While more shows and films are on the way, it remains to be seen if the platforms will start serving more like they did during the pandemic.
