AMIDST A DIGITAL REVOLUTION!
Not too long ago we had read in the Boston Consulting Group’s report ENTERTAINMENT GOES ONLINE that Indian OTT market has a potential to reach $5bn by 2023. On the path to fulfil that potential, we are now seeing various OTT players playing and competing against each other and constantly trying to produce better content with aim to increase their subscriber base.
Indian OTT service Eros Now will invest $70 million in original content and roll out 100 new Originals. The information was shared by Eros Digital Chief Operating Officer Ali Hussein in an interview. The company recently launched digital shows “Side Hero” and “Smoke” and a made-for-digital feature “Meri Nimmo”, directed by Bollywood hitmaker Aanand L. Rai. Over the next 18 months Eros Now will be rolling out original digital series, films and short-form content. The total investment in the original content slate will be in the range of $50 to $70 million.
We also read not long ago that Netflix has refused to reduces their subscription prices in India. Even though everyone would have loved to see them reduce the prices but there can only be one reason behind their move and that is producing more Indian original content. The already have Sacred Games under their belt, with Selection Day to come out later this month and BARD OF BLOOD already under production.
Not only are the video streaming platforms going at it, but there are also the music streaming platforms who are trying to increase their subscriber base. Jio users will be able to enjoy free ‘premium’ music service for 90 days on new JioSaavn app. Eight months after the announcement of acquisition of Saavn by Reliance Industries, Jio and Saavn have unveiled a merged platform JioSaavn service, which according to the company is South Asia’s largest streaming, entertainment and artist platform.
With all the existing music streaming platforms, another one will be seen entering the Indian Platform soon, and that could be as soon as six months. One of the most popular music apps in Europe and the Americas, Spotify, is in the final stages of negotiations with top Indian labels T-Series, Times Music, Eros Music and Zee Music for local content. Earlier they planned to enter India through an acquisition but that failed an now will be seen entering the country solo.
With so many other things constantly happening and changing all I can say is WHAT A TIME TO BE ALIVE!
By – Amul Vikas Mohan