Undeterred by an already-crowded OTT market dominated by massive pan-India gamers like Netflix and Amazon Prime Video, new video-streaming platforms are being launched to serve content material in particular regional languages, or produce reveals on area of interest themes.
Final month, Vibhu Agarwal, founder and CEO of Ullu, a video-streaming platform primarily identified for grownup content material, launched a mythological OTT service known as Hari Om, whereas Navrattan Group, a Mumbai-based firm with companies throughout engineering, expertise and building, has plans to deliver out a brand new service concentrating on household audiences, significantly with motion pictures.
Karnataka chief minister Siddaramaiah late final month mentioned his authorities would examine the feasibility of beginning a streaming platform for Kannada movies, whereas Meghalaya launched a state-specific OTT platform known as Hiya Meghalaya final week. Whereas some leisure trade consultants see this as a interval of experimentation to cater to particular niches, others level to the challenges of scale and economics.
‘Area of interest platforms can carve out distinctive audiences’
“Regardless of the saturation within the OTT market, area of interest platforms can carve out distinctive audiences by specializing in particular themes or genres which are underserved by mainstream providers. They will cater to communities with tailor-made content material, which might result in greater engagement and loyalty. Moreover, technological developments and diminished boundaries to entry make it possible for brand spanking new platforms to launch and function effectively,” Himansh Verma, founding father of Navrattan Group, mentioned.
Native OTT platforms can leverage their understanding of regional preferences, languages, and cultural nuances to create content material that resonates extra deeply with the audiences, Verma added. Such platforms can supply hyper-local content material and culturally related themes which may not be a precedence for world platforms. Strategic pricing, versatile subscription fashions, and partnerships with native content material creators can be efficient methods to draw and retain viewers.
Pointing to the content material gaps throughout the OTT ecosystem, Agarwal of streaming platform Hari Om mentioned there was no actual mythological app that might deliver collectively animated options for youngsters together with astrological providers and pujas. “Different platforms combine and match content material, we’re a one-stop answer and should not competing with rivals,” he mentioned, including that the massive benefit is that in contrast to many different providers, their app can be thought-about protected from a household and children’ viewpoint with no grownup content material hosted alongside mythological programmes.
A number of trade consultants see worth within the launch of latest providers, particularly people who cater to language or style niches. Regional and area of interest OTTs allow a a lot stronger join and affinity however the consumption story of the identical is but to see the size it deserves, Shrenik Gandhi, co-founder and chief govt officer at digital company White Rivers Media, mentioned. “There’s a variety of consumption potential in India. The Indian story has simply began and the following 100 million shoppers will likely be added very quickly,” Gandhi added.
Nevertheless, with the promoting and subscription progress slowing in India basically, it’s powerful for brand spanking new gamers to make a mark, particularly when spends are restricted. “These are all attempt to take a look at fashions, however area of interest platforms don’t make a variety of sense by way of scale and profitability. The longer term is certainly one of consolidation and there are probabilities {that a} important subscriber base might result in these platforms being acquired by among the greater gamers, although even that can’t occur too regularly,” Karan Taurani, senior vice-president at Elara Capital Ltd, mentioned.