WAVES OTT targets 2.5 crore subscribers with live events and PPV model

MUMBAI: WAVES OTT is hoping to make a big splash by giving viewers more reasons to tune in and creators more ways to cash in. The Prasar Bharati-backed streaming platform is targeting an additional 1 crore subscribers over the next six months, taking its subscriber base from around 1.5 crore to a targeted 2.5 crore, as it expands its live-event line-up and sharpens a Pay Per View (PPV) model that links creator earnings to audience consumption.

Vikram Singh Malik, director at the Ministry of Information and Broadcasting, outlined the platform’s plans at the launch of the Kisan Cricket League. He said WAVES OTT had increased its subscriber base six-fold over the preceding year, from around 25 lakh to approximately 1.5 crore, crediting the growth to the platform’s team and the content creators who had backed it.

“Over the last year, we have increased our subscriber count by six times. The credit goes to our team and also to the content creators who have supported us,” Malik said.

The next phase will focus on expanding the range of content available to viewers while finding a sustainable model for bringing more creators on board. Malik said WAVES OTT operates within the regulatory requirements and budgetary constraints associated with its position as a public broadcaster, factors that have influenced its content acquisition strategy.

“We are very strict about rules and regulations and we have to take our content within those. There are also limits for our content budgets,” he said.

Rather than competing solely for expensive premium titles, the platform initially concentrated on bringing its archive content online while targeting the middle segment of the content ecosystem. This includes emerging artists, producers and directors who may find it difficult to secure deals with established streaming services.

The platform subsequently introduced its PPV policy, designed to offer creators a route to distribution in which payments are linked to how much of their content audiences watch. The approach also changes how content is valued, moving away from a model based exclusively on negotiations and upfront pricing towards one in which consumption determines the payout.

Malik said the PPV model was conceived to make content acquisition more accessible and give audiences a greater say in determining the commercial value of creative work.

“The idea was to bring a little bit of democracy into content. Instead of us deciding what the content should be worth, the audience watching it determines its value. In a field where the value of artistic work is subjective, it is very difficult to put a fixed price on content,” he said.

Under the initial policy, WAVES OTT introduced per-minute rates for exclusive and non-exclusive content. After operating the system for two to three months, the platform reviewed the rates and introduced a revised structure from 8 June. Malik said the current rate stands at Rs 6 per minute watched.

To illustrate the arrangement, he said a creator uploading a 100-minute film would receive Rs 600 if a viewer watched the entire film, assuming the stated rate applied to all 100 minutes. If more viewers watched the same content, the creator’s payout would rise accordingly.

“If you have a 100-minute film and you put it on our platform, and someone watches it, you get Rs 600 for those 100 minutes of content. The more people who watch the content, the more the creator gets paid,” Malik said.

The model could appeal to creators who prefer earnings linked to actual consumption rather than relying entirely on a negotiated acquisition fee. It also gives the platform a mechanism to bring in a wider variety of titles without having to determine a fixed upfront valuation for every project.

Malik said the revised structure had helped improve the quality and variety of content arriving on the service, pointing to titles such as Bell 1975 as examples of content gaining traction.

However, the arrangement also shifts a significant share of the commercial risk towards producers. Under the model described by Malik, creators need to attract viewers to generate larger payouts, making audience awareness and promotion crucial to a title’s financial performance.

“The risk is loaded towards the content creator. We give them the best price, but they have to go out and market it. The more people watch it, the more they get paid,” he said.

That places distribution and marketing at the centre of the creator’s responsibilities. A title may be available on the platform, but its earning potential depends on whether audiences discover it, choose to watch it and remain engaged for the duration of the content.

Malik also outlined the potential earnings under the PPV model using a hypothetical example involving WAVES OTT’s existing subscriber base. If 5 per cent of its 1.5 crore subscribers watched a 40-minute episode in full, the resulting payout at Rs 6 per minute would amount to Rs 16.8 crore.

The calculation assumes approximately 7.5 lakh viewers, based on 5 per cent of 1.5 crore subscribers, each watching all 40 minutes. At Rs 240 per complete viewing, the total would be Rs 18 crore, rather than Rs 16.8 crore. Malik cited around seven lakh viewers and a payout of Rs 16.8 crore, which appears to use a rounded audience estimate that does not exactly match the stated percentage.

“If 5%, seven lakh people, watch a 40-minute episode, then 40 minutes multiplied by seven lakh multiplied by Rs 6 comes to Rs 16.8 crore for one episode,” Malik said. He added that a series attracting 10 lakh to 20 lakh viewers could potentially generate even larger payouts under the model.

The example illustrates the revenue potential that WAVES OTT believes audience-linked payments could offer producers. However, these are illustrative calculations rather than reported earnings from an actual programme, and they assume that the stated per-minute rate applies to every minute watched by each viewer. Actual returns would depend on verified consumption and the terms governing each title.

Malik argued that such a model could create a new revenue opportunity for producers by linking payouts directly to viewership, rather than relying only on upfront content valuations. For independent creators, that could provide another route to monetisation, although it would also require them to invest effort in building an audience and promoting their work.

Alongside the PPV strategy, WAVES OTT is looking to increase its live-event offering. Malik said three to four additional live-event proposals were in the pipeline, with the platform planning to introduce them sequentially.

The Kisan Cricket League launch is part of this push to bring event-led content to the platform. Live programming can give viewers a reason to tune in at a particular time, while new matches, performances and other unfolding events offer a different proposition from an on-demand library that audiences can watch whenever they choose.

Malik said the changing nature of digital consumption was one factor behind the emphasis on live events.

“One of our learnings is that it is the age of reels. Nowadays, people have very little attention span. But there is also novelty. Something new is going to happen. I think the value of live events is increasing because something new is happening every moment. There is a new match, there is a new single,” he said.

The strategy reflects the challenge facing streaming platforms as they compete for viewers’ time. Short-form video has made quick, frequent content consumption a familiar habit, while live events offer immediacy and the possibility of shared viewing around something happening in real time.

For WAVES OTT, adding more live events could help diversify its content offering beyond its archive and creator-led titles. It could also provide additional reasons for users to return regularly, although the success of the strategy will depend on the appeal of the events and the platform’s ability to convert interest into sustained viewership.

Malik said the platform hoped to add another 1 crore subscribers over the next six months, building on its existing base of around 1.5 crore. Achieving that target would take WAVES OTT to approximately 2.5 crore subscribers, provided the additions are net growth and the existing base is maintained.

Malik also identified rural India as an important opportunity for the platform, citing the scale of the population and the diversity of its entertainment needs. He argued that rural audiences represent a distinct market with their own aspirations and consumption patterns.

“The rural population of India is such that it is the second-largest population in the world after China. Every eighth person in the world lives in rural India. It is a different society in itself, and its needs and dreams are very big. We are catering to that audience,” he said.

The emphasis on rural viewers gives the platform a potential point of differentiation in a crowded streaming market. A broader content mix, regional relevance and live programming could help it appeal to audiences whose entertainment preferences may not always be reflected in the acquisition priorities of commercial streaming services.

However, reaching that audience at scale also requires more than increasing the number of titles available. Content discovery, language accessibility, connectivity and the relevance of programming will influence whether users become regular viewers. The challenge for WAVES OTT will be to turn its growing subscriber base into an engaged audience that returns for new releases and live events.

Its PPV approach also introduces a different relationship between the platform and creators. Rather than relying exclusively on the platform to decide which projects merit investment, the model gives producers an opportunity to earn according to measured consumption, while placing greater responsibility on them to market their work.

The platform’s expansion plans come with a business model shaped by its association with Prasar Bharati and the regulatory requirements described by Malik. He said those constraints have influenced content budgets and acquisition decisions, making alternative arrangements such as PPV an important part of the platform’s approach to working with creators.

The revised payment structure, additional live-event proposals and focus on underserved audiences are therefore connected elements of its growth strategy. PPV provides a potential route for expanding the content slate, while live events could increase the frequency with which viewers return to the service.

The six-fold subscriber increase over the past year provides a starting point for the next phase, but adding another 1 crore users in six months will require WAVES OTT to sustain momentum. Its stated target would bring the service to around 2.5 crore subscribers, a significant increase from the approximately 25 lakh users Malik cited for the previous year.

For creators, the attraction will depend on whether audience-linked payouts can translate into meaningful earnings after accounting for production and marketing costs. For viewers, the proposition will rest on whether the platform can deliver a compelling mix of archive content, new titles and live experiences.

WAVES OTT is betting that a combination of creator-led monetisation, live events and a sharper focus on rural audiences can help it broaden its reach. The next six months will show whether that mix can turn a rapid rise in subscribers into sustained growth, while giving both viewers and content creators a stronger reason to stay tuned.