They have big stars, big ideas and now big money too! The world of over-the-top or OTT platforms might be designed for the small screens, but it is not at all small when it comes to budgets being allotted for the projects.
Be it Sacred Games, “Bard Of Blood”, “Queer Eye”, “The Crown”, “Good Omens” or the upcoming “Lord Of The Rings” series, mega bucks are being poured into creating these small screen wonders.
According to a report by KPMG in India and Eros Now, India’s online video market will have more than 500 million online video subscribers by 2023. It also pointed out that all the OTT platforms are investing heavily in the creation of original content.
Be it Netflix, Amazon Prime Video, Eros Now, Hotstar, Voot, Zee5, Viu, ALTBalaji or Sony Liv every platform is making massive capital commitments to add more diversity to its library with original content, in a bid to stand out from the rest.
The report stated that Hotstar has set aside Rs 120 crore to make special shows in seven different languages for the Indian market this year. Zee5 intends to release 72 new originals in six languages till March 2020. Eros Now has pumped in $50 million (Rs 356 crore) to create 100 new original shows.
Netflix plans to come out with four web series in 2019 and 15 original Indian feature films by 2020. This year alone, Netflix is expected to spend $15 billion on content. Clearly, India is big on their radar.
When it comes to Amazon Prime Video, the global platform is working on doubling its original content offering for India this year, with “The Family Man”, “Bandish Bandits”, untitled drama thriller series created by Sudip Sharma highlighting Indian politics, Asif Kapadia’s crime thriller “The Last Hour”, and second seasons of “Breathe” and “Mirzapur” in the pipeline.