In India, film consumption is steadily increasing. People have a lot of passion and love for movies, and there is a lot of content to watch. For a long time, movie theatres have been a great source of entertainment. With the passage of time and the proliferation of OTT platforms and streaming apps in India, the competition is heating up. In the race to provide great content to viewers, there is a battle between OTT platforms and theatres. Because of the increased number of moviegoers, the future of movie streaming apps, OTT platforms, and movie theatres appears to be very bright.
So, which of the two is the future of movies, and what does the future hold for Indian movie theatres, OTT platforms, and streaming apps? Let us compare the two and see who comes out on top: OTT Platform vs. Theatres.
OTT Platform vs. Theatres: Challenges and Benefits
The battle between streaming apps and movie theatres has both benefits and drawbacks. Watching a movie in a theatre is a fantastic cinematic experience, but OTT platforms allow you to enjoy it in the comfort of your own home. They both offer amazing content and a satisfying viewing experience. Let’s look at how OTT Platforms and Movie Theaters benefit and compete with one another.
People used to be excited to see new movies on the big screen. They still are, but now are willing to wait until they are released or purchased by OTT Platforms. Many popular streaming services, including Netflix and Amazon Prime, are now buying more digital rights to the top highest-grossing films than ever before. Children are critical to the success of Streaming Apps. They want engaging, interesting, and relatable content, which OTT Platforms can offer. They can watch anything at any time and from any location, which is not possible in a movie theatre.
Now, many producers choose to release their small-budget films directly on OTT Platforms. It is hard to release films with low budgets and unfamiliar names on the big screen. In addition, due to the scarcity of cinema screens in India, it can be challenging to find a release date for a film. Thus, to cut the cost of printing and advertising, and avoid the struggle of release dates, releasing them on Streaming Apps seems better.
Revenues from a film’s theatrical release continue to account for a sizable portion of its earnings. But, now, with films released on OTT Platforms after their theatre release, it benefits them both. Producers can make more money, and OTT platforms can gain more subscribers.
In the Indian streaming market, both OTT platforms and movie theatres have unique selling points. On the one hand, movie theatres provide the opportunity to watch 3D films with high sound and picture quality. OTT Platforms, on the other hand, do not have language restrictions. Streaming Apps, in addition to providing content in multiple languages, also provide subtitles in numerous languages, including regional ones. OTT platforms also allow you to watch personalized content and make recommendations based on your viewing habits.
Movie theatres charge different prices depending on the film, showtime, and seating. OTT Platforms, on the other hand, charge money on a monthly and yearly basis based on the plans that provide different content and features. One advantage of streaming apps is that they provide a wide range of content to non-premium subscribers as well. As a result, OTT Platforms are more affordable in terms of price. Watching movies at home provides greater comfort, but it also necessitates more pauses and breaks. In contrast, you can enjoy your movie without interruption in a movie theatre.
As a viewer, if you value the experience of watching a movie on the big screen and prefer it old school, you will go to a movie theatre. If your comfort is more important, you will prefer OTT Platforms. Also, because earlier parts of some Hollywood films are available on OTT platforms, people are eager to see the new ones in theatres. Thus, OTT Platforms and Movie Theaters help each other in many ways, and in addition to competing with each other, they push viewers who want more content toward each other.
Future of OTT Platforms and Movie Streaming Apps in India
According to current Business trends, OTT Platforms are on the rise and are here to stay. Television, cable, and theatres continue to play an important role in Indian households, but OTT Platforms are gradually taking over. According to a counter search report, the top 5 metro cities alone account for 55% of all OTT users. According to the same report, young people under the age of 35 account for 89 percent of Indian OTT users. The majority of viewers are of a younger generation, according to these findings. Streaming Apps, on the other hand, have content for people of all ages, making them an excellent choice.
According to a Boston Consulting Group report published in The Economic Times, the Indian OTT industry could reach a market size of $5 billion by 2023. According to these findings, there are currently more than 30 OTT Platforms, with the average user using 3-4 at a time. It opens up a lot of opportunities for OTT Platforms because the number of people who haven’t used a specific app at all is very large. Furthermore, millions of people, particularly in rural areas, have never used any OTT Platforms. And, with cheaper internet access in rural areas, OTT Platforms can capture a sizable market share.
Any OTT Platform’s customer base is heavily reliant on subscription fees. Charging a small fee assists a streaming app in expanding its customer base. Customers are always drawn in by low prices. Pricing is one of the most difficult issues for OTT Platforms in India. Netflix is one such example. Netflix had a lot of problems in India at first because of its high subscription fees. As a result, to continue growing in the future, OTT Platforms must work on their content and pricing regularly.
Future of Movie Theatres in India
There are numerous challenges for movie theatres today as a result of the war between OTT platforms and movie theatres. To stay competitive and compete with OTT platforms, movie theatres must continue to offer new elements to their audiences. Movie theatres should focus more on providing special effects content to viewers, such as IMAX, 4DX, and so on, to attract them to the theatres. The food court is also a very appealing feature for the audience. People used to eat before or after watching a movie, but now they eat during it. Movie theatres should also lower their prices slightly because viewers can now get more content at lower prices on OTT platforms.
Even if OTT platforms pose a threat to movie theatres, they will never be able to eliminate them from the Indian entertainment industry. For a long time, movie theatres have faced competition. When TVs, VCRs, and DVDs first appeared, theatres faced new challenges, but they never lost their place in people’s hearts. OTT platforms undoubtedly offer a plethora of options and benefits, but they are unlikely to displace movie theatres in India. Thus, in terms of the future of movies and entertainment in India, it appears that OTT platforms and movie theatres can coexist.