The coronavirus has made the world to go on a standstill. The pandemic is affecting millions of lives. All the countries across the globe has gone on a lockdown, there has been no exchange of trade, culture, arts for more than 3 months. During this period the mode of entertainment has changed for the people. Seeing the growing popularity of OTT platforms like Netflix, Amazon prime among youth, will there be a shift of audience from movie theatres to this digital platforms.
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Seeing the ongoing situation it’s clearly visible, no sooner things will get back to normal. Even when normalcy prevails, it will take a lot of time to come out from this huge crisis. The entertainment industry suffered a huge impact of this global crisis, specially the film distributors and exhibitors. During this period the way of thinking and perspective of people changed, and what increased is viewership of these OTT platforms.
During this lockdown period, the digital platforms have successfully gained their viewership number. YouTube got see a substantial rise in viewership. During this period their was a rise of 20.5% serge in subscribers taking the view count to 300 billion, in the first quarter of 2020. While Netflix also saw increase in subscribers and stock price. 16 million people created accounts in first 3 months. Share price has climbed more than 30% this year. The documentary series Tiger King reached 64 million people.
All the OTT platforms saw a growth in the first quarter of 2020, as it is still not clear when things will get back to normal, the digital platforms have now started targeting
the filmmakers and planning to release the upcoming films on OTT platforms.
According to Bollywood Hungama, a major OTT player has offered a whopping amount of 143 Crore to the Team 83 starring Ranveer Singh and directed by Kabir Khan, to release the movie on their platform. If this becomes successful this will open new dynamics for the filmmakers. Growing popularity of OTT platforms is growing concern for film distributors and exhibitors, and if now films starts releasing on digital platforms their will surely be a make shift of audience.