OTT is the trend to deliver content over the internet. A huge chunk of the population is ditching cable subscriptions and moving to content delivery through streaming whether through VOD services, live streaming, or movie rental services. Cutting the cords is common considering the modern household scenarios. Currently, this is the most used platform for accessing video content including series, movies, documentaries, talk shows, and news over the internet. Broadcasters are gaining the advantage of this trend by delivering video content via OTT technology.
OTT technology helps in broadcasting video content over the internet and there are different methods to monetize that content. It is an alternative to traditional methods for broadcasting content, including satellite and cable. The benefit of OTT is its availability and accessibility of video content from any device with a reliable internet connection, ranging from devices like smartphones, smart TVs, laptops, and tablets including others.
Some of the major OTT players include Netflix, Hulu, Disney+ Hotstar, and Prime Video. Since OTT live streaming is booming these days, there are infinite possibilities to monetize content over the platform. Various platforms choose different methods to monetize their content online these include Subscription Video On Demand (SVOD), Ad-Supported Video On Demand (AVOD), Transactional Video On Demand (TVOD), or a hybrid model to monetize their content.
Recent Changes Adopted By Amazon
Video streaming has several monetization options with which the content can be delivered to the viewers. Amazon Prime Video has recently unveiled an expansion plan in India. With the expansion in the plan, the platform will increase its investment in the country and will also come up with 41 new releases. Among other hooks, Amazon has launched Prime Video Store that leverages the viewers to rent to the movies. Prime Video Store with its transactional video-on-demand (TVOD) is moving to movie rental services in India. With the recent development in the strategy of monetization, it will be interesting to see the change in the environment of various OTT platforms.
What Are Movie Rental Services?
The concept of online movie rental is more or less like the old rental services that are used to provide physical CDs/DVDs for a limited time and fixed amount. With time, this old movie rental trade has moved online. This change wherein you have got a chance to rent a movie for a limited time has arrived on the online platform.
Prime Video Store is available to both prime members and non-prime members. Withal, the plus point of movie rental services is that all the non-members can also get access to it. The services will enable customers to have early rental access to all the latest Indian and international video content. The content will be available for 48 hours after watching the content. The price of the movie will vary from Rs 69 to even Rs 499.
Apart from Amazon, it is Tata Play and YouTube that provide movie rental services to the viewers. Tata Sky opens up its catalog of rental movies for a limited time of 48 hours. YouTube has had its rental service for years that the customers are leveraging. On YouTube, rental movies are available from Rs 50 to Rs 700 based on the quality of the picture. Netflix, Hotstar, Sony LIV, and Zee5 provide the access to their content according to the streaming plans available on the platform.
Final Thought
OTT is the present and the future for video streaming. The industry continues to grow and has immense potential to make a huge difference in the streaming business. With this new change in the monetization policy of a major OTT player, Amazon Prime Video is taking the first step in the market. It will be interesting to see the strategies of other platforms in the way to monetize their content.