Web show sequels top streaming charts, mirror box-office trends

According to media consulting firm Ormax, the most-watched Hindi web series of 2024 is the third season of Mirzapur on Amazon Prime Video, with a viewership of 30.8 million, followed by the third season of Panchayat, on the same platform, with a viewership of 28.2 million.

The list of the top 15 series also includes the third season of Kota Factory (15.8 million) on Netflix, the second season of Taaza Khabar (15.3 million), the fifth season of The Legend of Hanuman (15.2 million) and the third season of Mismatched (14.7 million). 

Entertainment industry experts say an established fan base certainly helps good openings for successive seasons of web shows, but it is equally possible for fans to get disappointed and for shows to not get renewed despite plans for another season.

“Sequels of successful OTT series start strong just like box-office hits as they already have an established fan base. The impact (of the previous season) is huge, as the plot points and cliffhanger keep the audience on their toes. Even the characters you introduce each season impact the overall run of the show in a significant way,” said Ujjwal Mahajan, co-founder, Chaupal, an over-the-top (OTT) platform specializing in Punjabi, Haryanvi and Bhojpuri content.

Initially, a spike in viewership is seen for subsequent seasons, Mahajan agreed, which usually beats the numbers of the previous seasons. However, a dip might follow if the audience loses interest, especially if the story fails to keep the audiences engaged. Chaupal has sequels to shows such as Panchhi, Sarpanchi and Zila Sangrur slated for this year.

Franchise shows not only yield high buzz but are also delivering high potency—their ability to drive subscriptions, according to Keerat Grewal, head – business development (streaming, TV and brands) at Ormax. “In 2024, nine of the top 10 fiction shows on potency were franchise shows. These sequels have also dominated the viewership charts,” Grewal said.

Further, breakout franchises in 2024, like Mirzapur S3, Panchayat S3, Squid Game S2, and Kota Factory S3—all had past seasons having an OPRs of 73-plus. OPR, or Ormax Power Rating, is the consulting company’s proprietary metric, measuring how much the content has been liked by those who watched it on a scale of 0-100. Shows that are liked have a high OPR.

To be sure, entertainment industry experts feel the recall value for established web franchises works in a manner that is similar to movies released in theatres. It not only allows makers to milk sequels, but also figure out spin-offs where a backstory can be conceived for specific characters, much like the model followed by Hollywood franchises such as Avengers. That said, as actors featuring in such popular shows gain fan following and begin to appear in other shows and films, their appeal often gets diluted while the novelty of the initial writing too wanes over time.

“Viewer engagement determines whether a new season is successful. For example, shows such as Bridgerton and Emily in Paris stand out with strong viewership and watch time compared to their previous seasons. On the other hand, The Family Man maintains similar viewership due to a less engaging storyline. Ultimately, the success of a new season hinges on its content engagement,” said Sarfaraz Ansari, senior vice-president at media agency Mudramax.