The recent surge in the OTT industry has seen the pandemic being one of its prime reason. Not only that, but the sector’s revenue has also grown 159% as per a report published by the report by Ficci and the Producers Guild of India in December 2021. The report also suggested that the industry will touch a record $2.6 billion by 2025. While discussing with the industry itself, Divya Dixit- SVP Revenue & Marketing, ALTBalaji says, “The pandemic has scaled up OTT content consumption and platforms have seen a significant rise in engagement levels Efforts were focused on putting in place a sizable content library and upgrading it as right now the ability to churn out new content quickly will be an asset. What works further optimally is to focus on consumer segmentation, mapping audience behavior, focused customer retention, optimizing customer life cycle, and progressive strategies for onboarding new consumer segments, who are new to the internet or women in smaller markets.”
The lockdown has increased subscribers substantially from Hindi heartlands for the platform. AltBalaji has also witnessed a 15-20% surge in its viewership numbers in 2021. Divya further adds, “With the increase in appetite to consume our diverse library of originals and our shows catering to the mass audience, we have 59% of our viewership coming from the non-metros. While cities like Lucknow, Ludhiana, and Guwahati saw a huge increase of 189.84%, 106.50%, and 108.41%, respectively, Srinagar, Shimla, and Ranchi weren’t behind either, with an uprise of 103.81%, 103.05%, and 192.01%, as compared to ALTBalaji’s viewership from these cities in 2020. 18% of our overall traction comes from the global audience, without any aggressive marketing.”
Taking the discussion a tad more, Divya opens up about their expectation for the year, 2022. “We will be focusing on a digital strategy that covers all the bases considering youth-friendly platforms. For our various youth-centric shows, we also partnered with multiple digital payment gateways to ensure the audience has the smoothest experience possible. Strengthening our robust analytics platform which has a live dashboard that provides us information on views and engagement along with socio-economic and demographics of our viewers to generate behavioral consumption patterns will be a step to sharpen our retention strategy.”
“Evolving and adapting to new market trends such as VR, AI, Gamification, Consumer-centric WhatsApp messages, Quirky PNs, Moment under the sun for consumers, Recommendation engines, voice search, quicker and easier payment options (onsite and offsite), cashback will help serve audiences better and engage deeper. Constant modernizations to keep up with lightning-fast digital evolution are the only way to ensure brand relatability. Keeping sharp tabs on everything right from marketing to pricing to tech innovations to content is and always will be the way forward.” Divya also stressed creating relevant stories in the coming days along with innovating steadily.