How Covid-19 has Accelerated the Growth of OTT Platforms

The pandemic caused mass disruption worldwide. With sporting events, theaters, and other public venues shut down, people were forced to stay indoors and consume entertainment and different media types through over-the-top (OTT) services. Not surprisingly, these providers saw significant growth during the lockdown. Despite the slow return to normal, this growth will continue for years to come.

The Pandemic as a Disrupter

According to Research Dive, the growth of the global OTT marketplace is accelerating much more because of the pandemic. Previously, the compound annual growth rate (CAGR) was 16%. Post-pandemic, this number is expected to reach 19%; by 2026, the market value could reach $438.5 billion.

A growing OTT marketplace is a boon for consumers looking for content and an opportunity for existing and new providers. For the latter, achieving success isn’t just about offering high-value content. It’s also about maximizing video monetization. This means choosing an OTT solutions provider that has these tools for clients already in place.

The best OTT platform providers have a lot in common, although what they do for monetization varies considerably.

MAZ

One of the top platforms, MAZ, allows you to stream OTT and live video across multiple platforms, including Chromecast, Roku, Apple TV, Android TV, Amazon Fire TV, etc. To date, it has successfully launched over 1,000 apps, having worked with hundreds of customers of all sizes.

Partners of MAZ now include TMZ, Fast Company, WIRED, Salon, and many more. Today, millions of consumers get video content from a MAZ-created solution.

MAZ offers a range of tools to create and capture new revenue lines from your OTT app experiences for monetization. These include creative paywall options for would-be subscribers looking to sample your content to simulated live streaming, so when users launch your channel, content plays immediately.

With MAZ ID, which the company says is “like Netflix in a box,” you can sync your content across devices and track subscribers across sessions. Both provide audience segmentation and targeting opportunities. There are also built-in tools for running ads, freemium, SVOD, AVOD, and analytics. MAZ’s solution also Integrates directly with Google Ad Manager, SpotX, native ad sponsorships, and more.

Uscreen

With thousands of creators and millions of end-users across 195 countries, Uscreen offers one of the best OTT solutions in the U.S. With this service, you can create mobile apps, websites, and TV apps, with no coding or design skills necessary. Uscreen is ideal for companies looking to grow their web-based video presence.

To maximize monetization, Uscreen offers user subscriptions and rentals, pay-per-view, and free trials, plus bundles and lifetime packages. It’s integrated with Stripe, PayPal, and Authorize.net to offer hassle-free checkout and payments.

Vimeo

Then there’s Vimeo, which remains one of the biggest names in OTT. Like MAZ, it supports many platforms, including iOS, Android, Roku, Apple TV, and Amazon Fire TV. The typical customer is one looking to reach small audiences. Because of this, Vimeo is less focused on providing vast monetization tools, although they certainly exist.

Vimeo, for example, provides real-time user data, so you always have a handle on what’s working on your platform. You can use this information to build better content plans that are flexible and geared to drive customer lifetime value.

What Does This Mean for OTT?

COVID-19 was a game-changing event for the OTT industry. Already expected to grow significantly even before the pandemic, the industry should see even more growth in the years ahead. Whether you already have a presence or are looking to join, selecting a winning partner to get your product out the door is important. Otherwise, you’ll get lost in a growing sea of competitors and find limited success.

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