OTT platforms have altered the whole entertainment business in this complexly evolving world of coronavirus. For amusement and entertainment, the lockdown-weary globe has shifted from theatres to OTT services and events to social media.
Furthermore, the transition to OTT platforms has created room and attention for original, diverse, and high-quality content that sells itself. OTT encourages filmmakers and artists to create eye-catching content since OTT platforms present customers with limitless possibilities with just a few clicks, requiring quality above quantity. Unlike traditional television shows, OTT has made a plethora of genres available to consumers for a significantly reduced viewing experience. In every case, both filmmakers and users are pleased with OTT services as a new way to see movies instead of going to the theatre.
However, when the globe returns to pre-pandemic conditions, theatres are anticipated to return to the game after a two-year hiatus, but they must prepare to fulfil expectations. The cinema, without a question, provides a larger-than-life experience that cannot be easily recreated by OTT platforms, even in one’s own home. To keep audiences engaged, cinemas must make concerted attempts to monumentalize the theatrical experience, screen size, sound quality, and ambiance. To add a pinch of salt to the experience, most recent movies are available in 3D and 4D versions, which are not available at home.
But one thing is clear: OTT has pushed theatres to think beyond the box, to make more storyline, visual, and casting choices, and to create high-quality material that celebrates performers’ actual skill rather than encouraging nepotism and big-budget movies with dull screenplays. As a result, a clear movement away from commercial/big-star films have been made in favour of content-driven films. Multiplexes must strive on enlarging their audience by travelling into smaller cities and villages, as India is still an under-screened country.
As a result, cinemas are frequently used as a social gathering place for individuals to meet their friends, family, and acquaintances. To compete with OTT services that offer jaw-dropping entertainment, theatres must generate appealing content. Apart from the magical experience, theatres employ millions of trained and unskilled people, in contrast to OTT platforms, which mostly employ skilled individuals.
Another deterrent to going to the movies has been the exponential rise in ticket prices and food prices at multiplexes; lowering these costs must be considered in order to get moviegoers back into theatres. Furthermore, unlike theatres, where filmmakers generate large profits by releasing films in international countries as well, income possibilities on an OTT platform are restricted.
As an entrepreneur, my perspective is that, while OTT platforms will continue to leverage on a large internet customer base, people’s love and desire for the wonderful theatrical experience will never diminish. The new era of digitization is a sure bet boost for the OTT business, but that doesn’t imply it can replace the theatrical experience. Perhaps a win-win solution for both OTT and cinema is a symbiotic partnership.
