OTT originals with powerful story-driven content have connected resoundingly with audiences. Shows like Sacred Games, Pataal Lok, Family Man and more recently Farzi are as popular as silver screen megahits today. Shows like Four More Shots may not be in the same league, arguably, but they are the markers of popular culture today.
That said, are such shows few and far between?
A news report on Netflix’ likely leaning towards blockbuster movies, given that not many of its originals tasted success in India, did the rounds, though it mostly quoted unnamed sources including peeved producers.
We tested the hypothesis across industry and asked a few experts: Is original content unviable for OTT players in India?
Quality original content can enable subscriber growth and retention
Original, exclusive, quality content is a major draw for OTT subscribers who are also willing to pay a premium for subscription. Also this is agnostic of language of content.
Repeat value content, movies, etc. provide repertoire but original, quality content across genres lends to the loyalty with the OTT player. Sporting properties, especially cricket, are another big draw in the OTT space in India. Properties like IPL are great, but also limiting, since these properties come with huge investments and therefore pressure to monetise, leaving little room for focus on in-house production of original quality content.
Subscriber growth and retention are equally important and quality original content can prove to be the differentiator and enabler for the same.
– Jyoti Malladi. Group Service Line Leader – Brand Health Tracking (BHT) and Creative Excellence, Ipsos India
More original content, at the right budgets, in quick time
Original content in local languages drives viewers and subscribers to a platform and its quality determines their willingness to pay and subscribe. As long as budgets are kept under control, new original shows or movies are absolutely critical to generate new subscriptions and keep the OTT engines running. When budgets go haywire, P&Ls get stretched and the OTT business model is called into question.
We must however, bear in mind that the streaming industry is still nascent in India and may take a few more years for the perfect business model to evolve. What needs to be solved for is more, and not less, of original content, made at the right budgets, in quick time.
– Gaurav Gokhale, Chief Operating Officer, Endemol Shine India
With increased aggregation, originals even more important
Original content for OTT players is clearly important – India is probably the second most important original content creation market for Amazon after the US and they seem positive about how essential that content is in India and positively surprised at the value that they’ve derived from it overseas.
For other players like Disney, original content doesn’t have to mean a new formula as it did for Netflix in the US. They can use established stars and movie formulas and can also distribute some of the content via linear TV at some point if they want, so the boundaries are a bit softer.
For Netflix, Omdia research suggests it’s one of the markets where their original content is comparatively least watched – part of the conclusion there is that some of their original shows have limited appeal in India, and part of it is that Indian entertainment is pretty unique and has its own ecosystem.
Ultimately, the growth potential is massive still, and for the OTT platforms producing content like Four More Shots is needed to help show their distinctive offering. One of the increasing trends in India is increased aggregation as well so the original content will become yet more important.
– Daoud Jackson, Senior Analyst, Omdia
Any OTT’s differentiation is its own content
Any OTT’s main point of differentiation will be its own content. The adoption of Netflix was greatly influenced by Sacred Games, much as it was by Family Man for Prime and Scam 1992 for Sony Liv. Having said that, the OTT monetization model is still being developed since the SVOD numbers are not increasing at the rates that were anticipated. As customers now are overloaded with choices, it currently looks unprofitable to invest in unique content. The business will need to be consolidated. After that, OTT brands will be able to charge more for their original, high-quality content.”
– Girish Upadhyay, CMO, Axis My India
