The COVID pandemic has impacted industries across the verticals on a global level. This pandemic has also resulted in a considerate behavioral change in the way businesses operate, consumer sentiment, and the response of brands. Also, there’s no denying the fact that this pandemic has resulted in unprecedented growth in the global OTT market.
The global OTT market has recorded a growth of 15% back in 2019 when there was no trace of lockdown. After the outbreak of the COVID pandemic, since strict lockdown has been imposed people are afraid to venture out. With theaters, malls, adventure parks being shuttered for a good part of this year, people are left with limited entertainment options. And this is exactly where OTT platforms have become crucial in keeping people out of boredom while they are safely confined to their homes.
Amid the pandemic, there’s a new trend of releasing movies on OTT platforms & this trend is expected to continue even after the removal of lockdown Policies.
OTT Video-On-Demand Growth Statistics:
OTT platforms like Netflix, Amazon Prime, Hotstar, and other platforms have been highly successful in increasing their viewers’ base by providing them quality content. As per Brightcove’s Q2 2020 Global Video Index stats, the percentage of viewers across the OTT platforms has risen by nearly 30% in the first half of 2020 compared to 2019. There’s a tremendous rise in the global OTT subscription rate and especially in India. International OTT platforms like Amazon Prime and Netflix reported a 67% & 65% growth in their subscription.
Massive Rise in OTT Platforms Revenue:
As per the experts’ view, the global OTT market value was around $110.1 billion in 2018 & post this pandemic, the OTT industry is expected to garner $438.5 billion by 2026 with a growth rate of 19.1%.
Full OTT List
Follow the below link to find a full list of ott movies and series.