Movie ticket prices are expected to decrease
If the demand of the entertainment industry is heeded, then the prices of movie tickets in multiplexes can be reduced in the Union Budget 2023, so that people of all economic classes can enjoy cinema on the big screen.
New policy can come through union budget 2023
India has the highest entertainment tax on movie tickets. Where it is a state regulated matter, there may be a new policy through Union Budget 2023 to regulate entertainment tax on movie tickets, making it more affordable.
Private companies have fixed prices on OTT
However, talking about the OTT price, there is no clarity yet whether the Union Budget 2023 will affect its price. Since private companies have fixed their pricing model in different modes and formats in case of OTT subscription.
OTT is dominated by two platforms worldwide
Indian viewers are split on OTT in two big chunks Netflix and Amazon Prime, the two biggest platforms globally. Since OTT subscriptions are available all over the world, it is having a huge impact on the movie theater industry.
OTT platform can also reduce its subscription rate
If movie ticket prices are reduced then it is possible that people will not wait for OTT to watch movies and will be drawn to theaters. It is possible that after the reduction in the prices of movie tickets, OTT platforms may also reduce their subscription rates.
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