Abstract
The entire media and entertainment industry are going through unprecedented changes in this age of digital disruption. The rise of the Over-The-Top (OTT) platform has transformed consumer experience and expectations. OTT players (Netflix, Amazon Prime Video, Hulu, Disney+, etc.) offer a wide array of diverse choices of content while enabling consumers to choose their content, watching time, and place independently. OTT platforms and digital media have already seen increasing popularity across locations and demographics. Adding to the momentum, due to the COVID-19 pandemic, social lives have shifted to online, people are restricted to their homes, so inclination towards OTT and digital media has accelerated significantly. Consumer behavior is undergoing profound change as the world adjusts to this new normal. This study aims to understand the changing consumer behavior towards the adaptation of the OTT platform during the COVID-19 pandemic.
Highlights
In recent times COVID-19 outbreak has resulted in significant economic, mental, and physical health consequences
By using one of the great engagement social platforms, Twitter, data was collected through web scraping and done sentiment analysis about the consumer mindset towards the over–the–top media services (OTT) platform during this COVID-19 situation
'Netflix', 'Amazon Prime Video', 'stream', 'new' 'release' are some of the most frequently used terms while discussing OTT platform. This word cloud indicates that among many OTT players YouTube, Netflix, and Amazon Prime video are the most popular among the consumer, and overall people are inclined towards online streaming and live shows offered by OTT players
Summary
In recent times COVID-19 outbreak has resulted in significant economic, mental, and physical health consequences. Due to social distancing measures employed by several countries around the globe, the entire dynamic of how people communicate and work, how people live and interact with each other, how people move around, and travel has been changed. While adherence to these lockdown measures psychological traits like boredom, anxiety, stress, insecurities took a front seat for many of us. PwC, Global Entertainment, and Media Outlook report 2019 suggested that the OTT Video market will grow almost double between 2019 to 2029 and will represent 72.8 billion industry by 2023 and will grow with almost 14% CAGR
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