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New OTT platforms spring up in cluttered market to target niche themes
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Undeterred by an already-crowded OTT market dominated by big pan-India players like Netflix and Amazon Prime Video, new video-streaming platforms are being launched to serve content in specific regional languages, or produce shows on niche themes.
Last month, Vibhu Agarwal, founder and CEO of Ullu, a video-streaming platform primarily known for adult content, launched a mythological OTT service called Hari Om, while Navrattan Group, a Mumbai-based company with businesses across engineering, technology and construction, has plans to bring out a new service targeting family audiences, particularly with movies.
Karnataka chief minister Siddaramaiah late last month said his government would study the feasibility of starting a streaming platform for Kannada films, while Meghalaya launched a state-specific OTT platform called Hello Meghalaya last week. While some entertainment industry experts see this as a period of experimentation to cater to specific niches, others point to the challenges of scale and economics.
‘Niche platforms can carve out unique audiences’
“Despite the saturation in the OTT market, niche platforms can carve out unique audiences by focusing on specific themes or genres that are underserved by mainstream services. They can cater to communities with tailored content, which can lead to higher engagement and loyalty. Additionally, technological advancements and reduced barriers to entry make it feasible for new platforms to launch and operate efficiently,” Himansh Verma, founder of Navrattan Group, said.
Local OTT platforms can leverage their understanding of regional preferences, languages, and cultural nuances to create content that resonates more deeply with the audiences, Verma added. Such platforms can offer hyper-local content and culturally relevant themes that might not be a priority for global platforms. Strategic pricing, flexible subscription models, and partnerships with local content creators can also be effective strategies to attract and retain viewers.
Pointing to the content gaps within the OTT ecosystem, Agarwal of streaming platform Hari Om said there was no real mythological app that could bring together animated features for children along with astrological services and pujas. “Other platforms mix and match content, we are a one-stop solution and are not competing with rivals,” he said, adding that the big advantage is that unlike many other services, their app would be considered safe from a family and kids’ point of view with no adult content hosted alongside mythological programmes.
Several industry experts see value in the launch of new services, especially those that cater to language or genre niches. Regional and niche OTTs enable a much stronger connect and affinity but the consumption story of the same is yet to see the scale it deserves, Shrenik Gandhi, co-founder and chief executive officer at digital agency White Rivers Media, said. “There is a lot of consumption potential in India. The Indian story has just started and the next 100 million consumers will be added in no time,” Gandhi added.
However, with the advertising and subscription growth slowing in India in general, it is tough for new players to make a mark, especially when spends are limited. “These are all try and test models, but niche platforms do not make a lot of sense in terms of scale and profitability. The future is one of consolidation and there are chances that a significant subscriber base may lead to these platforms being acquired by some of the bigger players, though even that cannot happen too frequently,” Karan Taurani, senior vice-president at Elara Capital Ltd, said. LiveMint