Broadcasting companies, most with OTT services of their own, appear to be unaffected by Netflix’s foray in India. Do they really think the US major won’t affect their business? Or are they just putting up a brave front?
When Reed Hastings, Co founder and CEO of Netflix announced the company’s global roll out in 129 countries earlier this year, it sent India’s entertainment industry in a tizzy. While the arrival of a global video streaming service with high quality content in their midst might not have caught many Indian companies unawares, it made they pay closer attention to thier own fledging Over-the-Top (OTT) platforms. Some of these were barely profitable; others, they hoped, would break even when the digital landscape started giving returns on investment.
Now that the initial chatter over Netflix’s Indian entry has died down, broadcasting companies and independent online stream their thoughts and their strategies. And most claim that they do not view the brand as a competitor to their OTT channels. In fact, some are downright delighted that the US major has staked a claim on India’s burgeoning online entertainment industry. They believe this will spur more consumers towards the online video streaming model.
One of them is NP Singh, CEO of Sony Pictures Networks. He explained that India, traditionally an ad-supported video on demand (AVOD) market, has recently seen the emergence of subscription video on demand (SVOD). “The arrival of a global player will in many ways change the dynamics of the business, though it will take some time,” he believed.
SHIFTING VIEWER PATTERNS
Until a few years ago, Indian families would plan their daily activities around TV programs and he who wielded the TV remote held the power in the house. However, viewership habits have changed. A recent Hotstar ad aptly summed up the changing entertainment scenario in urban households when a young girl said, “My mother loves to watch dramatic TV serials, but I am not my mom,” and she goes to watch a cricket match on her mobile.
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