India’s OTT industry is slowing down after a period of rapid growth in the last few years. During the pandemic, many people binge-watched original content, but now the number of new shows is decreasing. This decline raises concerns about how sustainable the streaming model is in India.
According to a report, the number of original Indian titles dropped from 225 in 2021 to 199 in 2022. There was a slight increase to 206 in 2023.
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This slowdown is due to tighter budgets and a better understanding of what audiences like. Some films are returning to theaters instead of going directly to streaming platforms. This shift means there are less number of new titles, which could make it harder for OTT platforms to keep subscribers.
Media experts noted that platforms need to release fresh and engaging content regularly. If subscribers don’t see value in their subscriptions, they may cancel. He mentioned that showing repetitive content can lead to viewer fatigue, making it less likely for new subscribers to join.
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During the pandemic, investment in content surged as many films skipped theaters and went straight to OTT. However, the recession in the U.S. affected spending in India. Platforms realized that returns on subscriptions were not as high as before, leading to a shift in investment.
In 2022, investment in original online content peaked at $529 million but fell to $479 million in 2023. It is expected to recover slightly to $527 million in 2024.
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Now, platforms are balancing less number of big shows with more number of lower-budget shows, often available for free with ads. This strategy helps maintain a steady stream of content.
Some platforms have found that big films released after their theater run attract more subscribers than original web series.
Another media expert mentioned that apart from Netflix and Amazon Prime Video, most platforms are struggling financially. Attracting new customers through new shows is becoming challenging.
While core audiences may stay, casual viewers might drop off. Launching smaller shows that stream for free could help ease some of this pressure.
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