There are many technologies and concepts which have been totally replaced with other technologies over time. Theaters were enjoying a monopoly for so long. But for now, it is a matter of survival in the declining market of theater. Now, the theater has been more customer-centric which is good for the audience. Now, OTT platforms are set to take the market of theater. In covid past, People avoided going to the theater due to health concerns. They started to enjoy movies sitting at home over ott platforms. OTT platforms used to exist before covid too but in covid the market of OTT platforms expanded rapidly.
At that time, Many producers chose to release movies on OTT platforms. No doubt, covid is almost gone, but it taught people new ways of living. Covid has left footprints beginning and one of them is people started to prefer OTT platforms to enjoy movies rather than to go to the theater.
The factors which make the OTT Platform more special than Theatre
- Less expensive: On a few platforms, various movies and web series can be watched without a paid subscription. Examples are jio cinema and Hotstar. While, on a few platforms, content can be assessed with paid subscriptions. There are various online secure payment methods to get paid subscriptions. The package is bought monthly, quarterly, or on a yearly basis.
- Flexibility: People can watch content over OTT platforms anywhere, anytime as long as they have an internet connection. This kind of accessibility makes OTT platforms flexible.
- Accessibility: OTT Platforms can be installed and logged in mobile phones, TVs, PCs, Laptops and tablets. To log in, a password is needed. Password is created at the time of profile creation so that only the person who has the password can log in and can watch content over these platforms
- Global reach: By releasing movies on OTT platforms, the audience from each corner of the world can be targeted because the network of OTT platforms is spread over 100 countries.
- Personalization: The type of content will be visible on the basis of the history of the watch list on the home screen. The content available on most of the OTT Platforms is of international level. The movies and web series from the US, Europe, and Korea are the Most viewed. The content is dubbed in different languages to make it convenient for audiences worldwide. Subtitles are also available in different languages.
- Knowledge of different cultures: On OTT Platforms, people watch movies of different nations which helps to give knowledge of different cultures.
The factors which can help theater to survive in this emerging era of OTTs
- Special effect content: The movie theater must concentrate on providing Special effect content like IMAX, 4DX and 7D. This is the thing that is missing in OTT platforms’ content as people watch this content at home and usually, people don’t buy tools of special effects because of the high cost for personal use.
- Food court: People love to eat different kinds of snacks while watching movies. There are food courts available in every theater. The reduction in the price of food available in theaters can attract more audiences. Theater must consider this point.
- Experience sharing: Few people like to share their movie experience after watching the movie but it is missing when people watch a movie to sit alone at home.
- Group reaction: The most fascinating thing about watching movies in a theater is that there is a large audience. So, the audience reacts together to the funny scene or the sad scene, or the movie’s climax.
So, it makes funny scenes funnier when everyone laughs together, sad scenes sad when everyone gets emotional together.
Everyone has their own preferences some people like to socialize more and some don’t. Theater is a better option for people who like to socialize more and OTT platforms are better for those who like to watch movies alone sitting on a couch. OTT platforms work better for people who like to watch international movies and series. Both have Pros and cons. People have more content now to watch and more platform options to watch movies and series.