Union Budget 2023: Will the prices of cinema tickets be reduced, will OTT platforms be cheaper? There are some such expectations from the budget

February 1, 2023 / By
Union Budget 2023: Will the prices of cinema tickets be reduced, will OTT platforms be cheaper? There are some such expectations from the budget
Union Budget 2023 is to be presented in the budget session of Parliament on February 1, which will be presented by Union Finance Minister Nirmala Sitharaman. Along with this, it is expected that there will be many new changes in tax exemption in the current economic policy of the Central Government. People have high hopes from this budget regarding the recovery of the economy after the Kovid-19 pandemic and along with this the entertainment industry is also expecting some relief regarding movie tickets and OTT subscriptions.

Talking about movie tickets, it is quite different in single screen theaters and multiplexes and this is the reason why difference, quality and maintenance etc. are clearly visible in both types of theatres.

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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