In the contemporary world, the OTT (over-the-top) platforms have taken the media industry by a storm.  Followed by radios, when the trend of television
emerged in Bangladesh it provided the customer base with an eclectic range of entertainment. At present, the media industry has ameliorated to online streaming platforms which has overshadowed traditional  television because it arguably contains better content, a diverse range of shows, faster premiers, and most importantly no advertisement break. Such platforms can be accessed by the audience via the internet, avoiding the hassle of dish cable or broadcasting media, all the audience needs to do is subscribe and enjoy!
The availability of smart televisions in majority of the households has allowed to bolster the success of this platform. According to the business standard, the global OTT market is growing 30% annually, from $121 billion in 2019 it is estimated to increase to $1039 billion by 2027. Netflix has taken a lion’s share in the Bangladeshi market without any investment, unfortunately, they do not host shows produced in Bangladesh. This has pushed many new platforms, originated in Bangladesh, to emerge.

What sets the local platforms apart from the global ones?

Bangladeshi platforms unlike the global ones have taken a handful of initiatives in order to dig deeper to the customer satisfaction level. Platforms like Bongo BD and bioscope have collaborated with local cable channels, thus, streaming the cable channel programs through their platforms. This initiative has helped local cable channels to extant in the fast-changing market.
Unlike NETFLIX or Amazon, Bangladeshi platforms allow a portion of their programs to be accessed without a subscription. The dramas presented draw
their foundation on the local context, attempting to cater to the needs of all the customer groups.
With the intention of making them accessible to all, the subscription rate has been kept at an affordable rate. Numerous payment methods have been established, in order to ease the method. Starting from credit or debit cards, to mobile banking platforms like Bkash and Nagad all of these modes of payments have been made accessible. Apart from these, subscribers can also pay via mobile balance. In a country where many are yet not educated enough about the digital payment options, such initiatives have proven to be of great success.

Platforms Reshaping the Media Industry of Bangladesh

Bongo BD: with the aim of providing Bengali television content to its expatriates, Bongo BD was established to provide those content on a website. Initially, the website would provide the entertainment in exchange for a specific subscription fee. Over time they have established different business models amongst which monetizing content on youtube is one. Instead of only targeting the elite class, they set their target audience to low-income earners, as well, who comprise a majority of the country’s population, hence, implementing the “Sachet Model”. A good number of videos are free of cost, however, to view the premium content, customers will have to pay. They have managed to build the largest library of Bangladeshi content globally and won the prestigious “Gold Play Button Award” for reaching 1,000,000 subscribers from youtube.

According to “rest of the world”, combining all their platforms the number of viewers has crossed a billion. United News Bangladesh reported, at present, they have 83 million+ subscribers, with 210 million+ unique subscribers each month. Additionally, they have 500+ YouTube channels including influencers from 5 countries. The content they provide consists of movies, web series, music, kids’ videos, and many more, which can be viewed from laptops, smartphones, etc.
Bioscope: launched its beta version in 2016, it is a concern of Grameehphone. According to the Business Standard, around 70% of the content can be accessed without a subscription, for the prime content Grameenphone users can easily have access by buying the data pack, hence, users do not require to
pay an additional subscription fee. They aim to reach the households of the Bengalis worldwide, where anyone residing outside of Bangladesh needs to pay
for the subscription. Besides the wide array of content available, starting from TV shows, movies, live TV, and live sports, the platform also collaborates with local producers to generate original content. Additionally, they allow the audience to access old programs from cable channels, allowing them to watch programs outside their allotted time. Apart from local channels, foreign channels are also accessible via this platform.
Apart from these, for better customer experience offline downloads and personalized content recommendations are also available.
Banglaflix: blessing the Banglalink users with quality content, Banglaflix is an initiative by Banglalink providing a wide array of entertainment. It offers
multiple packs, which users can buy at an affordable rate and enjoy exclusive content. It can be accessed through any smart platform and the bookmark option available helps them to make a list of shows they are interested to watch. This helps to enhance the recommendation of shows and movies on the platform.
Chorki: the brand new OTT platform took its first step last month. The fresh platform targets an audience worldwide, with a basket of 200+ films, series, and documentaries. The promise of releasing one original film every month took them to the headlines. They commenced their journey with their first web film “Youtumer”, and second “Networker Baire”. The platform is accessible through all sorts of smart devices, and a helpline service is also available for users facing difficulties.

Challenges
Despite the numerous attempts to provide a feasible customer experience, the platforms struggle to attract customers to buy subscriptions no matter how
affordable the rate is, whereas, Netflix earns around $21.6 million from Bangladeshi subscribers, according to the Bangladesh Telecommunication Regulatory Commission’s (BTRC) data. Part of Netflix’s success is due to the availability of a wide range and quality content. Viewers look for platforms that cover all their desirables, hence, the absence of diversity demotivates them to pay.
Another rising concern is associated with piracy. Rich content, which gathers attention is illegally leaked on YouTube, stripping these platforms of their profits.

Way Forward
International platforms have already set the bar too high. Hence, the implementation of proper strategy is essential. A study of the audience is vital because their survival depends on the audiences’ will to spend.
A boost from the government could help this new dimension of the industry immensely, as it did in the past. Platforms should be inured to learning from the
past, as that happens to be one of the primary steps to prosper.