Taking to Twitter, actor-entrepreneur Shah Rukh Khan announced his new OTT (over the top) venture SRK+. This isn’t the first time that Khan has teased the launch of his OTT debut. Last year, a series of ads talked about his collaboration with Disney+ Hotstar. The actor on Tuesday finally revealed that ‘SRK+ is coming soon'. “Kuch kuch hone wala hai, OTT ki duniya mein,” he wrote. Filmmaker Anurag Kashyap will also be collaborating with Khan on his OTT project.
India has more than 40 OTT apps, including popular video-on-demand services like Disney+ Hotstar, Amazon Prime Video, Netflix, etc. Will Khan’s new venture be able to make a mark in an overcrowded market like India?
“SRK has a very strong recall with the global audiences. That’s where the platform is going to have an edge,” argues Karan Taurani, senior vice president, Elara Capital. Experts point out that it’s not necessary that the platform will only have films by SRK. “Currently the OTT market is very fragmented. Even YRF has announced an OTT platform and are trying to build a platform with YRF films. There’s going to be a huge overlap in terms of content offering,” he said.
The OTT platform will help the actors leverage on their brand value, Taurani says. “Their fans would want to watch exclusive content by him. As a business model, it could also have actors by other actors which could help them in the monetisation of their content in a better way,” he said.
According to a recent report by Deloitte, video streaming market may record a compounded annual growth rate (CAGR) of more than 20 per cent to touch $13 billion–$15 billion over the next decade, riding on original content and pricing innovations. “Paid subscribers are also estimated to expand at a CAGR of 17 per cent to reach 224 million by 2026 from the current 102 million,” the Deloitte report points out.
Experts say that more than his films, exclusive content will make SRK+ stand out. “That will make a huge difference because he has a huge fan following outside India. That’s where the potential and scale of this kind of an OTT platform lies. It’s niche in nature but can become a viable business proposition,” Taurani added.
Shah Rukh had entered the digital streaming space as a producer with Bard of Blood and Betaal on Netflix. As an actor, he will be next seen in Pathaan releasing early next year.
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