Online movies and the film industry
In India, movies usually get about 60 to 70% of their earnings from box office collection, both domestic and overseas screens. And the box office collection of a movie determines the number of music rights, copyrights, and OTT rates, so the higher the box office collection higher the amount. You must be wondering is it possible to watch free online movies full length? Yes, it is.
This is how movies were released in theaters, the box office was the target, and every movie was written and made keeping box office in mind. And OTT platforms were paving their way into the Indian market, people mostly subscribed to them for foreign movies and series, and they also produced some Indian content from time to time. This has been the norm for the past four years until the two incidents completely changed the face of media consumption in India.
The two incidents that changed the face of media
The first one being, the mobile data revolution that dramatically reduced the cost of data in India because of which 1 gigabyte of mobile data in India costs $ 0.26 while the same amount of data in the US will be available for no less than $ 5. This meant that the Internet’s reach was spreading heavily, and coupled with the boom of the budget smartphone industry, the number of internet users exploded.
And the next one is the Pandemic, this gave average Indian plenty of reasons to try OTT platforms, and OTT platforms also had free trial services, so people did try it, and they liked it. Even before the Pandemic, people were growing more and more reluctant to spend their money on movie tickets while getting a subscription on any OTT platform for a month by paying a little bit more.
The present and the future
Many of the movies are now premiering as online movies, as there are no other ways left as it is still unknown when the lockdown will end. This is an important opportunity for OTT providers, as most people now prefer online movies over traditional ones. This is proved by the fact that online movies are being watched more, and it has grown over four times in just one year.
One of the main reasons is that Today’s consumers prefer movies with content and good writing and unlike the same old tradition in which everything revolves around the main star. Online movies and series follow the idea that content and script are the kings; this has attracted many young audiences who need content and don’t care about the star.
As per many veterans of the film industry, online movies are the future, simply because they are more democratic, convenient, consumer-friendly, and better, the film industry knows this, so in the future, we will see more and more movies being released in OTT services except for some big movies whose budget is too huge to be covered by online streaming only.