Original Content Helps OTT Platforms Overtake Cable TV
Over-The-Top (OTT) Platforms are leaving behind cable television; their number is even higher than that of subscribers of cable connections. An annual report by KPMG mentions that one of the biggest reasons for this is the original content.
At the start of the year 2019, the number of subscribers of video streaming services worldwide was 613 million, while the number of subscribers of cable connections was 556 million.
The biggest reason behind the growing subscriptions, the report says, is the growing original content. In 2017, 139 original series or films were made, which increased to 319 in 2018. These original series and films are not only helpful in filling the libraries of these OTT Platforms, but they also make them different from other OTT Platforms. All such platforms are using very high budgets for making their original series and films. In 2018, to create original content, Netflix used $12 billion, Amazon Prime used $6 billion and HBO Hulu used $2.5 billion. In the FY19, Netflix made original series like ‘Sacred Games’, ‘Lust Stories’ and ‘Ghoul’ and garnered praise for them. Amazon Prime came out with series like ‘Mirzapur’ and ‘Comicstaan’. Like this, each OTT Platform came up with new and varied series for its subscribers. Around 31% of people like watching comedy, 27% of viewers like drama, 13% prefer romance, 11% like thriller and 17% like other genres.
The biggest reason behind the growing subscriptions, the report says, is the growing original content. In 2017, 139 original series or films were made, which increased to 319 in 2018. These original series and films are not only helpful in filling the libraries of these OTT Platforms, but they also make them different from other OTT Platforms. All such platforms are using very high budgets for making their original series and films. In 2018, to create original content, Netflix used $12 billion, Amazon Prime used $6 billion and HBO Hulu used $2.5 billion. In the FY19, Netflix made original series like ‘Sacred Games’, ‘Lust Stories’ and ‘Ghoul’ and garnered praise for them. Amazon Prime came out with series like ‘Mirzapur’ and ‘Comicstaan’. Like this, each OTT Platform came up with new and varied series for its subscribers. Around 31% of people like watching comedy, 27% of viewers like drama, 13% prefer romance, 11% like thriller and 17% like other genres.
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