Transformation of Media and Entertainment Industry: Identification of Most Important Factors in OTT Consumption

Abstract

Purpose: The main goal of this study is to gain insights into the OTT (over the top) landscape within the Media and Entertainment (M&E) industry, with a focus on uncovering the factors that influence consumer engagement. Additionally, the aim is to compile interconnected elements that affect the mindset of OTT consumers. There is fierce competition in the dynamic Indian market of OTT platforms, and dearth of studies focussed on understanding the factors that drive the membership subscriptions, customer’s long-term association and creation of life-time value and involvement in word of mouth. This can help in formulation of right kind of strategies for seeking and retention of customers. Design/Methodology/Approach: A questionnaire-based survey was undertaken to comprehend patterns of consumer engagement. Exploratory factor analysis was employed to investigate the connections between variables, deliberately avoiding a predetermined fixed number of factors. Findings: The study gave us three complex factors which can guide us to design the right marketing strategies. Practical Implications: The primary objective of this study is to pinpoint the combined factors that influence media consumption via OTT platforms. This identification aims to assist stakeholders in tailoring content and marketing strategies in alignment with customer engagement trends.