OTT streaming boomed during the lockdown period as the audiences started consuming content from the comfort of their homes and despite the economy opening up now, the number of consumers for online streaming will continue to grow, said Sushant Sreeram, Head, SVOD, Business, Amazon Prime Video.
Sreeram was speaking on day 1 of ‘FICCI Frames Fast Track 2022’ at a session titled, ‘M&E Consumption: Evolving Trends Across Segments’.
Upon being asked how the future of online streaming looks in India compared to the vast linear TV audience in the country, he said, “Very recently streaming online overtook linear TV in the US and I think that will happen in India too. Indian audiences are value-sensitive; the price should be seen for what it is that Prime Video offers.”
“In the last 6 years, we have had Hindi, regional as well as international originals. Add to this the shopping experience that Amazon Prime offers. You have to look at how the customer is viewing these things. This will be chapter two of online streaming and the customers who have joined the world of streaming are finding it amazing,” he said.
According to Sreeram, exploring different business models as well as paying models for the audiences has helped Prime Video. “In the past 6 years, we have launched various models for ourselves. We earlier announced about doubling our investments in the next five years as opposed to the previous five years. The shift to consumers streaming online is just going to accelerate,” he said.
“The pace of how consumers are joining to watch Amazon Prime Video remains robust. We think as long as we program to extremely heterogeneous audience expectations across languages, accessibility, payment and infrastructure, customers will look forward to what we have to say,” stated Sreeram.