Sudip Mukherjee, Founder and CEO, Biiggbang Amusement, is a strategist and entrepreneur with 2 decades of experience spanning across leadership and management roles in leading start-ups. He also founded EUOR Health, an online healthcare marketplace offering healthcare services. At the International Trading Company, SCTPL International Pvt, Sudip served as a Director where we gained global exposure across Korea, China, Pakistan, and Bangladesh.
In this exclusive piece, Sudip shares how 2020 gave him a reality check, how it changed the OTT industry, its viewers, the way we consume content, and the opportunities that lie ahead.
2021 is all about a fresh start and making the most of the new normal. We are witnessing positive changes because of the pandemic and realizing how it has equipped us for the future.
2020 was the ‘Reset’ year that brought mother earth some relief and time to heal and for us, the year gave us the reality check that what we call the new normal is actually how our ‘normal’ should have been all this time. With all the new changes and the new way of life, I am optimistic about 2021 years onwards, we will surely witness growth and prosperity in 2022, but 2021 is definitely the launching pad for a fresh/new start.
The rise of the OTT industry
While the pandemic and complete lockdown led to a lot of changes…OTT industry saw a bright growth during the lockdown period. The paid subscription base of the OTT industry has grown by approximately 60% in the year 2020: Sudip Mukherjee
While the pandemic and complete lockdown led to a lot of changes in the rules & regulations and ways of business operations, the OTT industry saw a bright growth during the lockdown period. The paid subscription base of the OTT industry has grown by approximately 60% in the year 2020.
It is also observed that the diverse nature of the audience paved the way for newer OTT platforms to emerge with their distinct offerings. With the entire world locked in their home, the only source of visual entertainment was their TV or mobile device screens. During this period, it was seen that over 30 such OTT platforms have emerged to fill up the demand. While on the business front of the industry looked bright, managing work-life balance was a tough battle.
Content consumption and more
During this time, I studied the content consumption pattern of the audience, before and during the pandemic, and got to the conclusion that our audience is moving from just seeking entertainment but they want more creative and quality content from around the world.
The shift in demand has attracted global content to find a home in India and content made in India is now recognized and appreciated globally. This very recognition has inspired so many content creators to push their boundaries farther than ever.
I, too, pushed myself to look beyond the dark tunnel and utilized my time in building my dream project – BiiggBang Amusement Pvt Ltd. I feel this is the best time to put my project on the market as the audience’s need for smart content that wouldn’t pinch their pocket is growing by the day. With extensive market research and planning, we got a thorough insight into the world of content and its consumption and how to put it to good use.
Thoughts becoming things
BiiggBang Amusement is a product of my analysis of the content consumption and curation over the years. However, I must say, the lockdown helped us see beyond our capabilities and helped us value our time and relationships.
In the post-pandemic era, we will see a much more open and sensitive audience and true appreciator of the art. The world of Cinema will explode with opportunities for newcomers and all ideas will be warmly welcomed: Sudip Mukherjee
I saw younger generations finding their way in a ‘make or break’ situation with companies sacking employees and some working from home at a reduced salary to make ends meet. This pandemic has been harsh on them but it is polishing them and they have started to make the best of the insight and available resources to bring something new to the table.
I am sure in the coming year we’ll be seeing a lot of innovative ideas taking shape. This same fire to do something revolutionary I see in my team and thus I believe we have the capability to go beyond the defined lines of entertainment and deliver something out of the box.
In the post-pandemic era, we will see a much more open and sensitive audience and true appreciator of the art. The world of Cinema will explode with opportunities for newcomers and all ideas will be warmly welcomed.
Also, broadband connectivity and data plans are evolving to keep up with the demand which will support the cinema to reach the remote parts of the world. Overall, now we are chasing the light to bring entertainment for all.
The pandemic has changed the way we see and perceive the world, we have realized that happiness is inward and can be found in little things. The year 2020 made us value our time and forced us to achieve the much-needed Work-Life balance. All these years of running around work and completing tasks, 2020 hit a pause button that made us realize what we are truly capable of.
After all, chasing money can only make you a runner, but if you want to be the champion of the race, you need to mark your finishing line. All in all, the lesson that I take back is every now and then we need to hit pause, collect ourselves and hit refresh and start anew.