Movies are on the rise all over the globe. There is enough love and passion for movies and enough content to watch. For a long time, movie theatres have been a wonderful source of entertainment. The competition is fierce now that the times are changing and there are more streaming apps and OTT platforms. There is a battle between OTT Platform Vs Theatres in this race to provide great content for viewers. The future of movie streaming apps and OTT platforms, as well as movie theatres, looks bright due to an increase in movie watchers.
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What are OTT Platforms?
Over-the-top platforms and streaming apps are streaming media services that offer a variety of multimedia creations. You can access it via satellite, cable, and broadcast television. OTT Platforms are becoming more popular due to people’s changing lifestyles, and the increased use of smartphones that offer affordable internet services.
OTT Platform Vs Theatres – Benefits and Challenges
There are both benefits and drawbacks to the battle between Streaming Apps Vs Movie Theatres. OTT Platforms allow you to enjoy a great cinematic experience in a theatre, while a movie in a theatre is a wonderful cinematic experience. Both offer amazing content and a great viewer experience. Let’s look at how OTT Platforms can benefit from each other.
People used to love to see new movies on the big screen. People still want to see new movies on the big screen. However, they now prefer to wait until they become available on or are purchased by OTT Platforms. Popular streaming apps like Netflix, Movie Plus, Amazon Prime, and Movie Plus are now purchasing digital rights to high-earning movies more than ever. Youngsters are crucial to the success of Streaming Apps. They want engaging, relatable, and interesting content that OTT Platforms can offer. They can watch any content they want, anytime and anywhere. This is not possible with Movie Theatres.
Many producers now choose to distribute their low-budget films directly through OTT Platforms. It is not easy to release films with less-known names and a lower budget on the big screen. Due to the limited number of cinema screens across many countries, it can sometimes be difficult to find a release date. It is better to release them on streaming apps, in order to reduce the cost of advertising and printing, as well as avoid the hassle of determining release dates.
Still, a significant portion of the film’s earnings comes from its theatre release. Films now being released on OTT Platforms following their theatrical release is a win-win situation for both producers and viewers. Producers are able to make more money, while OTT Platforms have more subscribers.
OTT Platform Vs Theatres – USPs
Both OTT Platforms and Movie Theatres have unique USPs in streaming. Movie Theatres allow you to watch movies in 3D, with excellent sound and picture quality. OTT Platforms, on the other hand, have no language restrictions. Streaming Apps offer content in multiple languages and subtitles in various languages. OTT Platforms allow you to view personalized content and make recommendations based on what interests you.
Movie theatres will charge money depending on the movie, showtime, and seat. OTT Platforms are charged on a monthly or yearly basis depending on which plans you choose to access different content and features. The streaming apps offer non-premium subscribers a wide range of content. OTT Platforms are therefore more affordable in terms of cost. While watching movies at home is more comfortable, it does mean that there are more breaks and pauses. In a movie theater, you can watch your movie with no interruptions.
If you are a viewer and place more emphasis on the experience of seeing a movie on a big screen, or if you prefer old-school cinemas, then you will choose to see it in a theatre. If comfort is more important than all that, OTT Platforms are more appealing. People are excited to see the latest Hollywood movies in theatres because they have access to the older parts of certain Hollywood movies. In many ways, OTT Platforms as Movie Theatres can help one another. They also give competition to each others and push viewers who want more content towards the other.
Future Movie Streaming Apps and OTT Platforms
The OTT Platforms, as the current trends show, are on the rise and will be here to stay. While television, cable and theatres still have a place in our homes, OTT Platforms slowly are taking over. According to counter search, 55% of all OTT users are located in the top five metro areas. According to the same report, 89% of OTT users are under 35 years old. These results show that most viewers are younger. However, streaming apps also offer content that is suitable for older viewers. This makes them an attractive option.
According to Boston Consulting Group’s report, the OTT Industry could reach a market value of $5 billion by 2023, as reported in The Economic Times. These results show that there are over 30 OTT Platforms and an average user uses 3-4 at a given time. This gives OTT Platforms a lot of potential as there are many people who have never used an app. There are also millions of people in rural areas who have never used OTT Platforms. OTT Platforms are now more affordable than traditional internet services, and can capture a significant market share.
Subscription charges are a major factor in the customer base of any OTT Platform. A streaming app can increase its user base by charging a small amount. Customers are attracted to streaming apps that offer affordable pricing. Pricing is a major challenge for OTT Platforms. Netflix is a good example. Netflix was faced with many problems due to its expensive subscription fee. Many people switched to the free apk popcorn time apk. OTT Platforms must continue to improve their pricing and content in order to grow.
Future of Movie Theatres
The war between OTT Platforms and Movie Theatres presents many challenges to movie theatres. Movie theatres must continue to offer new content to their viewers in order to stay competitive and compete with OTT Platforms. The special effects content that movie theatres offer to their viewers, such as IMAX and 4DX, should be more prominent in cinemas. This would draw them to the cinemas. A food court is another attraction that attracts viewers. People used to eat food before and after the movie. But now, they eat it during the movie. As OTT Platforms offer more content for less, movie theatres need to reduce their prices.
Even though OTT Platforms may challenge movie theatres it cannot erase them from Entertainment Industry. For long, movie theatres have faced competition. Despite the challenges theatres faced when VCRs, TVs and DVDs arrived, they remained a stronghold in people’s hearts. While OTT Platforms offer many benefits and options, it is difficult to replace movie theatres. In terms of entertainment and movies, OTT platforms and movie theatres could co-exist.
FAQs
How can movies make money on OTT Platforms?
It is simple. OTT Platforms purchase the digital rights to a movie from the producer and pay them a certain amount. Many OTT Platforms also make their movies. Producers get a fixed amount for making the film. The producer makes a profit if the budget has been met.
What do OTT Platforms mean for the Film Industry?
Consumers are now more content-driven than ever when it comes to shows and movies. The industry has seen a fresh face thanks to OTT platforms. They offer viewers a wide range of content and allow them to access any content at any time. This keeps them in demand.
What is the importance of OTT?
OTT Platforms are vital for many reasons. They can be used with smartphones, computers, and televisions. OTT Platforms are also cheaper than movie tickets in a theater and offer lower prices. They are also very unique and creative.
