Looking ahead, Darcy Antonellis, Head of Amdocs Media and CEO of Vubiquity believes that with the “new normal” comes new business models in the OTT space.
Antonellis comments: “While 2020 saw 29 per cent of US consumers try a new media subscription service, there is no denying the impact Covid-19 has had on disposable income and unemployment rates. Fortunately, with vaccines now on the horizon and the markets indicating a more bullish 2021, we believe the narrative will continue to shift from the overwhelming options consumers have in the OTT space, to how the industry will adapt. This includes new content offerings, pricing and monetisation strategies, optionality and unique bundling opportunities.
“In 2021, alliances, consolidation and various partnership structures will continue to be frothy. As the consumer-facing environment grows in complexity, tools and platforms that simplify a consumer’s means to manage their digital services (whether for digital or physical goods), subscriptions and commerce activities will be important. Easy-to-use tools integrated across applications, with a holistic customer experience, is one example of how service providers can differentiate”.
Antonellis also shared her opinion on Covid-19’s effect on global distribution, localisation and revenue conversion, commenting: “2021 will have the media and entertainment space evolving due to Covid-19’s lingering effects. With roughly the top eight global content producers slated to spend more than $100 billion on content creation, an accelerated production path to revenue conversion will remain in focus. This urgency will continue to push for increased global release programming strategies, resulting in continued licensing and localisation complexities.
Meanwhile, Raman Abrol, General Manager and Chief Commercial Officer, Amdocs Media, says that Covid-19 accelerated the debate around theatrical runs, premium VoD and a streaming-centric future. “For instance, Disney’s Premier Access of Mulan, along with WarnerMedia and AT&T’s approach with Wonder Woman 1984, are redefining release windows.
As consumers remain cautious about returning to theatres, expect several options to be explored in 2021, like condensing traditional release windows, partnerships between theatrs and studios to share VoD revenue, and experimentation by theatres in new areas like e-gaming, eSports, luxury experiences and corporate seminars. We’ll see revised premium recurring bundles that incorporate several of these unique experiences in the home, providing new revenue opportunities for content platforms and service providers,” said Abrol.