Over-the-top (OTT) platforms like Netflix, Hotstar and Amazon Prime Video have come out on top during the coronavirus pandemic. And their dominance is only set to grow further.
The pandemic may have been the trigger, but sustainability is coming from other factors — with telecom bundling at the fore, users opting for annual subscriptions, and more people choosing to watch movies online rather than in theatres — according to a report by consulting firm RedSeer.
It highlights that the number of unique paid users grew by more than 35% in February 2021 as compared to April 2020. The overall number of paid users now stands at a whopping 31 million.
Subscriptions increased by 8% during the same period and each user is estimated to have 1.4 subscriptions to their name. Meanwhile, revenue from subscriptions jumped by a whopping 42% from $49 million to $68 million.