From Rs 20-cr mega titles to Rs 1-cr mini-series: Streaming giants reset content strategy

India’s streaming boom, which was defined by several successful originals across platforms— such as Ashram, Sacred Games and Mirzapur a couple of years ago–seems to be fading. Streaming platforms are now shifting gears — moving away from a few extravagant productions toward a larger volume of compact, small-format originals designed for scale and sustainability.

“Top OTT players have recently discussed with producers commissioning compact webseries with total content budgets of around Rs 90 lakh to Rs 1 crore each. These five-to-seven-episode series, typically structured across three seasons with episodes of around 20 minutes each,” producers told e4m. This means, each episode needs to be wrapped within Rs 15-20 lakh budget. 

“The move not only helps platforms optimize costs but also enable them to experiment with fresh genres and storytelling formats aimed at Gen Z and millennial viewers who are increasingly drawn to microdramas,” they added. 

Earlier this year, e4m reported that streamers were exploring the idea of producing microdramas — short series with episodes lasting five to 10 minutes. However, they are yet to take the plunge and launch one.

Back in 2020–21, streaming platforms reportedly spent between Rs 50 lakh and Rs 1 crore per episode on premium web series. By 2024, that range had narrowed to Rs 25–50 lakh—depending on the producer and star cast—and has now been trimmed further to just Rs 5–20 lakh per episode, industry insiders said. The episode length, too, is being reduced from 50 minutes to about 20 minutes.

“Budgets have been squeezed all around,” quips Yubraaj Bhattacharya, senior producer. “They need blockbusters for sure, but they also need to populate many genres catering to different tastes. There are currently many lower-budget, six-to-seven-episode series being commissioned. We don’t know the hit ratio yet, but at least the risk is lower for the platforms.”

This marks a sharp departure from earlier strategies that favoured longer, high-investment series with budgets in the Rs 10–20-crore range. Experts believe the shift will redefine the content economy, balancing sustainability with creative experimentation while helping expand viewership beyond metros and into Bharat.

A Rs 1-crore compact show with three planned seasons gives platforms greater programming flexibility — if a show works, it can scale; if not, the loss is limited. The model also encourages more creators to participate while keeping risk contained, industry leaders note.

Meanwhile, the slate of high-impact originals has also thinned—from 100-120 originals to 50-70 in a year, giving way to a new phase of rationalisation. 

No surprises that India’s overall OTT content budget has dropped from an estimated Rs 2,500 crore a year ago to around Rs 2,000 crore this year, producers estimate — a sharp fall from the Rs 5,000–5,500 crore range during the post-COVID content boom. 

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Bharat in Focus

India currently has 601 million OTT users, representing 41.1% of the country’s population, with 148 million active paid subscriptions, according to Ormax Media’s latest report. However, the overall OTT audience is growing at 10% annually now, lower than the 13–14% growth rates seen in 2023 and 2024.

This slowdown underscores the urgent need for audience expansion beyond metros. Meanwhile, microdrama platforms are growing rapidly, adding to the competition for attention and time.

Netflix recently launched Ba**ds of Bollywood* (Aryan Khan’s directorial debut), a seven-episode series. The episodes were 40–56-minute long. The platform experimented with shorter formats earlier as well — for instance Sacred Games (Season 1 had eight episodes, launched in 2018) and Mai (six episodes in 2022) but episodes were one hour long. Nevertheless, longer and premium web series occupy most of its content slate. 

Home-grown platforms such as Zee5, SonyLIV, Hoichoi, and ShemarooMe have already pivoted to the mini-series model.

A spokesperson at Zee5, opines, "At ZEE5, our approach starts with the story and the audience we’re speaking to. Our slate spans marquee originals as well as high-engagement, compact formats because agility matters more today than sticking to one model. With our language-first strategy and the introduction of new language packs, we’re getting sharper signals on how regional and Bharat audiences are consuming content, and shorter series help us respond to those behaviors quickly.”

Big stories still get the scale they deserve, while focused formats allow for faster turnarounds and consistent engagement. The balance ensures both immediate traction and long-term audience affinity, the spokesperson affirms. 

India’s OTT ecosystem — valued at Rs 17,496 crore in 2025 and projected to reach Rs 35,062 crore by 2028 (Chrome DM) — is evolving fast. With rising internet access and connected-TV penetration in Tier 3 and rural markets, platforms see greater ROI in producing locally resonant, affordable content that can be dubbed, subtitled, and distributed across geographies.

Bhattacharya, however, cautions that while cost efficiency and expansion are critical, platforms must still invest in distinctive, high-quality originals to retain audiences and build brand equity. “They need to keep producing big hits,” he says.

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Testing Ground for New Formats

Not every strategic shift is driven purely by cost efficiency, experts caution. “Platforms often use shorter-format series to test new concepts they believe will resonate with their target audiences,” says Pep Figueiredo, COO – PTPL India and former SonyLIV executive. “It’s a lower-risk proposition that keeps the content pipeline active and the platform continuously relevant.”

He adds, “Numerous factors have driven this necessity — evolving viewer tastes, shifting revenue models, new go-to-market strategies, and the need to experiment with hybrid genres. Data from these experiments, especially for emerging platforms, helps decision-makers determine whether to extend a show into subsequent seasons.”

Balancing Creativity and Commerce

While marquee titles will continue to be commissioned for top-line brand value, insiders say the majority of upcoming originals will now sit in the mid-scale bracket, typically costing around ₹1 crore for five episodes.

Some producers see merit in this recalibration as smaller budgets open doors to new storytellers, diverse voices, and creative risk-taking. “It’s good for the long run — for platforms, producers, and the entire ecosystem. A wider mix of stories can now get made, rather than just a few high-investment projects chasing scale,” says Abhishek Rege, content expert and Founder of Aarambh Entertainment.

“The smarter play is depth and diversity — not just grandeur,” sums up a producer.