- Kerela will be the country’s first state to launch the OTT platform by the name CSpace.
- The platform will include movies, short movies and documentaries.
- The OTT platform will also broadcast internationally acclaimed and award-winning films.
Kerela will be the country’s first state to launch the OTT platform by the name CSpace. The platform will include movies, short movies and documentaries. On behalf of the state government, CSpace is the Kerala State Film Development Corporation (KSFDC) initiative, the first public sector film development company in India.
Saji Cheriyan, Minister for Cultural Affairs, revealed the name of the OTT platform as CSpace at Kalabhavan Theatre, saying the launch of the platform will mark a new beginning for Malayalam cinema. He said, films will only be streamed on OTT platforms after their theatrical releases, as a result, there will not be a crisis for the movie industry. In addition, CSpace would ensure profit sharing, transparency, and high-quality technical standards, the minister said.
In addition to distributing films with artistic value, the OTT platform will also broadcast internationally acclaimed and award-winning films.
CSpace will be launched on November 1 for Kerala’s formation day.CSpace will begin accepting registrations for streaming films on June 1.
Shaji N Karun, chairman of the KSFDC, said OTT films have a global appeal and are accessible without language barriers.
Karun, an award-winning director and cinematographer, said CSpace ensures producers will receive long-term income from their intellectual property, much like a pension. The CSpace platform allows viewers to watch a movie by paying for it alone, as opposed to other OTT platforms. Viewers can give a part of their money to the filmmaker, who will receive a share every time viewers view that film.
At present, platforms like Netflix, Amazon Prime Video, ALTBalaji, MX Player, SonyLiv, Disney+ Hotstar, and Zee5 dominate the Indian OTT market.
Following the outbreak of the Covid-19 pandemic, OTT platforms have grown in popularity with movies being released directly on the platforms and many Bollywood stars like Shah Rukh Khan and Shreyas Talpade announcing their own OTT platforms.
Earlier this year, actor-producer Shreyas Talpade announced the launch of a streaming service, Nine Rasa, which will feature plays and other performing arts.
Similarly, film producer Aditya Chopra plans to invest INR 500 crore in YRF Entertainment, the OTT venture under his banner Yash Raj Films.
The CII-BCG reported that India had 70-80 million subscribers to OTT platforms in 2021, up from 14 million in 2018 and 0.5 million in 2014-15.
After four years of initial growth, the sector has reached a ‘scaling stage’.Apparently, the segment gained much traction following the pandemic-induced lockdowns caused by Covid-19.
According to the report, the OTT industry was worth $1.8-2.2 billion by 2021. Digital is poised to be the fastest-growing segment, with a CAGR of 22-25%, and could reach $13-15 Bn by 2030.