Netflix and Amazon are back on top as the leading streaming services giants. In the first quarter of 2024, both platforms have once again showcased dominance in original content commissioning in the OTT space. The two streaming services accounted for more than half (53 percent) of all global SVOD commissions in the first quarter, as reported by Ampere Analysis. However, it is the growing content in the Asian markets, particularly India which has targeted the focus towards Indian subscribers. (Also read: July 2024 upcoming web series: Mirzapur 3, Showtime, Pill, Tribhuvan Mishra and more new shows)
Surge in Indian OTT content in 2024
During the first quarter, both Netflix and Amazon commissioned more original content from outside the U.S. than from within the U.S, according to a report by The Hollywood Reporter. The report also stated that the number of original shows from Western Europe, led by the U.K., Spain, and Germany, was almost equal to the number from North America for Netflix. There was also an increase in titles from Asia Pacific. Amazon also increased its original content in Asia, especially in India, where it ordered a record 37 new titles, more than the total from the previous six quarters combined.
Shershaah, Sardar Udham boost Indian originals
According to the Ampere Analysis research, Amazon, which maintains a substantial lead over Netflix in India in terms of subscriber figures, recently unveiled its most extensive collection of original Indian movies to date. The platform is actively engaging in securing pay-one and co-financing arrangements with local theatrical distributors in the region. The diverse array of Indian films set to debut on Prime Video includes the war film Shershaah, featuring Sidharth Malhotra and Kiara Advani; Sudha Kongara’s action drama Soorarai Pottru; and the historical drama Sardar Udham, starring Vicky Kaushal. The importance of the Indian market to Amazon’s international strategy was a significant factor in enlisting Indian superstar Priyanka Chopra alongside Richard Madden in its high-budget spy series Citadel.
Asian-Indian subscribers targeted by OTT giants
Ampere Analysis senior researcher Mariana Enriquez Denton Bustinza was quoted saying, “While Netflix is catering to a broad subscriber base while leaning on markets whose productions offer the greatest potential for crossover appeal,” Amazon’s approach “remains more heavily targeted towards key markets such as India, while it leverages its global position to expand further into the theatrical market to generate downstream revenues from its platforms.”
Mirzapur 3 is the new show slated to release on Amazon on July 5.
