Subscription Price war among OTT Platforms

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  • 20-Jan-2023
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Over-the-top content (OTT) platforms like Netflix, Amazon Prime, Disney+ Hotstar, MX player are becoming increasingly popular and well-funded in India. In the nation, 30% of OTT users have accounts on three or more of these sites. The Times Internet-owned MX Player, one of the leading OTT players, has secured 21% of customer loyalty, ahead of Amazon, Netflix, and Hotstar, which have secured 15%, 14%, and 14%, respectively.

Netflix, the largest video streaming service in the world, released its most affordable plan, which costs Rs 199 per month. The mobile-only Netflix plan was created expressly for the Indian market, taking into account the usage habits of Indians who watch video more frequently on their cellphones. Whereas, Amazon Prime Video, which is included with an Amazon Prime subscription, is priced at Rs 129 per month, while Netflix's rival HOTSTAR subscription levels start at Rs 199 per month. They offer Super and Supreme plans where the difference includes the usage of a laptop, a smartphone, and a television. You will have access to ad-free movies and TV shows, with the exception of sports, and you will be able to watch content on devices that support 4K playback and Dolby 5.1 audio. A full year of the Premium plan costs Rs 1,499.

Disney+ Hotstar also provides a Super plan for a full year for Rs 899, allowing you to watch media on up to two devices with Full HD and Dolby 5.1 compatibility. You should be aware that this plan does not let you stream UHD content to 4K TVs or remove adverts from your TV. ZEE5 from Zee Entertainment costs Rs 99 per month, while ALTBalaji, the Reliance-backed Balaji Telefilms video streaming service, costs Rs 100 for three months.

OTT platforms that are providing content in exchange for a small fee, Times Internet-owned MX Player has introduced a "view now, pay later" feature for its MX Gold subscription service. Users can choose to pay the Rs 299 fee after seeing the content as part of the plan. The over-the-top (OTT) entertainment platform that also hows top dubbing artist content and Paytm Postpaid provides the service, and other fintech firms who can also provide the pay later service are being contacted by the company.

If consumers receive a decent deal from the advertising suppliers, one in three Indians won't mind seeing premier advertisements voice overs on OTT services like Netflix and Amazon Prime. While 25% of Indians don’t mind seeing commercials in exchange for access to free content, a ratio of mixed thoughts have been expressed that some people will pay even more to remove the ads, whereas, some are not bothered with the ads and will continue to watch content as it is with ads.

This trend occurs at a time when the biggest names in video streaming appear to be losing ground as consumers adjust to life after COVID-19 and content fatigue begins to set in. For the first time in ten years, streaming service Netflix saw a decline in members. In the quarter ending in March 2022, it reported losing 200,000 subscribers worldwide in April. 

Amazon Prime Video and Disney+ Hotstar, two of its rivals, do not provide user statistics. Due to the country's relatively price-conscious population, content providers have had a difficult time convincing users to pay membership rates. Barely 10% of the 503 million users who had access to these sites in April 2022 paid to watch content.

In addition, Amazon Prime Video launched a division for renting movies, allowing users to pay for individual films as opposed to annual subscription rates. Currently, options for renting movies are available from several sources, including Google-owned YouTube and Google Play Movies and TV.

The practice of paying for goods and services later has grown fairly widespread in India's fintech industry. In addition, all consumer technology companies now provide credit for small expenditures, people are also grabbing the opportunity to get the best subscription plan at affordable prices. 

Audience tend to lean towards the platform for entertainment and good content exposure that are filled with talented artist. Voyzapp’s a unique media marketplace that gives artist an opportunity to to showcase their talents and get hired. We have 30K+ voice artist onboard in multiple genres and languages.

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