Boom! And 2020 has changed the world, giving us the most unexpected – “The Pandemic – COVID-19”, that brought businesses and the world economy to a halt. People across the globe confined to their houses, with movie theatres closed, restaurants shut and all public gatherings called off, have been looking for ways to channelize their time. To cope with the ongoing situation people started exploring their hobbies and interests with a few indulging in work from home. But that is not all, people also started looking out for entertainment. The entertainment industry was also at a pause due to the pandemic. That is where the OTT platform snatched the glare of the audience.
Online web series allows the audience to watch shows at their convenience. For a long time, people planned their schedule around their favourite TV shows until web series came into picture, providing freedom to watch their favourite show as and when they pleased. The pandemic has seen increasing online consumption, OTT leading the list. Therefore, it is no surprise that people got more inclined to invest in new subscriptions services to keep up with the isolation. Online web series is versatile and has content for all age groups, though the consumption is not the same across generations which hints at generational culture gaps. A lot of people tend to relate the web series, for a few it changes their perspective, behaviour, thoughts and lifestyle and for a few it might influence for some time and then eventually wear off. But these series have really been a great escape from reality during such difficult times.
One of the leading OTT platforms, Netflix, stated- “First, our membership growth has temporarily accelerated due to home confinement. Second, our international revenue will be less than previously forecast due to the dollar rising sharply. Third, due to the production shutdown, some cash spending on content will be delayed, improving our free cash flow, and some title releases will be delayed, typically by a quarter. The actual Q2 numbers could end up well below or well above that depending on many factors including when people can go back to their social lives in various countries and how much people take a break from television after the lockdown.”
A lot of people who weren’t even aware of this, that such a platform exists where one can watch online web series, started using it. A few OTT platforms provided service where the people having the subscription could form groups with their family and friends and watch the series or movies together, becoming a medium to connect and to spend time with the close ones even when it was next to impossible to do so.
Every individual deserves a daily dose of rejuvenation and the online web series provided that. It wouldn’t be wrong to say that the pandemic proved to be an upgrade for this industry and was a light at the end of the tunnel for people to overcome the anxiety and stress that the situation caused. Keeping it simple, the world has levelled up digitally.
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