Over-the-top platforms in India have been on a high in India. They have performed really well with content from all over the world being watched by millions of people. That said, OTT platforms in India are also on a rise. The FICCI report analyzes the growth of the OTT platforms. It says that the subscriptions might reach $285.8 million that is around INR 2000 crore by the end of 2020.
Amazon Prime is something which is mostly used by people because of its multiple features. The other most used platform by the Indians is Netflix. The content on Netflix and its existing model from the US was taken with open arms by India. It entered the Indian market with a bang and have collaborated with a bunch of Indian filmmakers.
The Indian film industry, known as Bollywood is the largest film producer in the whole world. It surpasses Hollywood by a mile in the number of films released. However, the quality of films was always not up to the mark. There were films which were really not up to the mark. In the year 2017, the number of flops the box office registered was at an all-time high and this is where the OTT platform cashed in.
The Indian audience was craving for content-driven films and series. They got that with Netflix. Given that there was no censorship, Netflix managed to put out raw, adult and real content people could watch. This earned them a lot of subscriptions, series like Sacred Games, Ghoul, and anthology films like Lust Stories were celebrated by the Indian audience. This immense increase in the quality of the content on OTT platforms and especially on Netflix has changed the view of Indian audience completely.
Netflix India’s brilliant plan made it the third most subscribed platform in the world after USA and Brazil. That said, Netflix and other OTT platforms like Hotstar, Amazon Prime, and Reliance Jio have had to sign a censorship agreement. The fact that the content on their websites and applications cannot hurt any kind of sentiments and defame the national flag and country has to be taken care of. This has made them agree on some content regulations.
Netflix India’s growth is not hidden from its audience. It posted $8.2 million for the Financial Year 2018. It is just the third year in India for Netflix and this growth is just stupendous for them. That said, the company is already looking to expand. The company has acquired a huge plot in Bandra-Kurla Complex (BKC). The plot is 1.5 lakh square feet and will be turned into an office. The existing forty employee office is supposed to double in size by mid-2019. The company is going to pay around $6.8 million for the property there.
– Unmesh Phule