Coronavirus effect: While everything is shut, there’s one business ruling the roost
While the businesses of a lot of establishments are at the receiving end due to coronavirus fears, the one and only business that looks quite promising at this juncture is OTT media service
With the shutdown of education institutions, shopping malls, movie theatres, amusement parks, swimming pools, gymnasiums, pubs and restrictions on public events with large crowds and no air travel, people seem to be bored locked in their homes.
While businesses of a lot of establishments are the receiving end due to coronavirus fears, OTT media services are the only ones thriving at this point.
Digital platform such as Netflix, Amazon Prime, and more are stealing the limelight. Even content on YouTube is being consumed widely with the corona pandemic.
People cutting across major cities and tier 2 and tier 3 towns are turning towards digital platforms.
The two-week-window is a great opportunity for the OTT platforms, claim digital experts. These platforms can now strengthen themselves and increase their subscriptions drastically too.
Once people get more accustomed to the OTT content and viewing experience, the theatrical revenues may dip further in the long run and this may impact theatres business in the future.