239 million people in the United States watched digital video in 2020. What’s more, digital video market penetration in the U.S is set to hit 83.8% in 2021. With this in mind, it’s safe to say that over-the-top (OTT) platforms are a good bet going forward. If this excites you, you’re not alone. OTT platforms are being created daily, and many unexpected businesses are utilizing these tools to give customers a unique experience, drive sales, and find more revenue streams.
In recent years, the over-the-top (OTT) market has grown substantially and is now considered a mainstream delivery platform alongside pay TV and traditional broadcast. However, the competition is fierce as the battle for subscriber viewing time and wallet share hardens every day.
OTT platforms became more important than ever during the Covid-19 pandemic when people were stuck at home, faced with a lack of options to entertain themselves. As no new content was being produced for televisions because of a global lockdown, people turned to OTT platforms, where there was no dearth of content to pass the gloomy and depressing days, and maybe even escape reality in the wake of what was happening.
Over-the-top (OTT) has presented a unique opportunity in the wake of the global coronavirus pandemic. More than ever before, it’s possible to live stream music festivals, concerts, conferences, and other large events that would otherwise have been canceled.
Traditional television content continues to get made and aired on cable and satellite. And yet, all of the excitement in recent years has been with Over The Top content or OTT. With OTT TV, viewers can enjoy their favorite videos on smartphones and tablets and OTT boxes like Roku, Apple TV, and Amazon Fire TV. The best part: Unlike traditional TV, OTT content is available to consumers 24/7 as long as they have an internet connection.
Over-the-top video streaming, or OTT, is on the rise in a big way. In fact, the streaming services industry is set to reach almost $125 billion in revenue by 2025. Besides Netflix and its competitors, traditional broadcasters and huge content creation companies like Disney - plus a host of unexpected businesses - are jumping into the fray.
Are you a content publisher looking for ways to diversify your audience? Wouldn’t it be great if you could leverage the power of videos to break into new demographics? Do you want to reach a wider audience, reinforce brand loyalty, and earn more revenue?
Streaming is quickly overtaking traditional cable as the number one choice for consumers. In fact, by 2024, more than 46 million households are expected to “cut the cord” – dropping cable in favor of streaming and over-the-top (OTT) platforms. In addition, viewing on mobile devices such as smartphones accounts for a big part of that market; 30% of premium content was viewed on phones in 2020 – up from 23% in 2019.
Are you a broadcaster who is looking for ways to reach the new generation of cord-cutters? Or are you a pay-TV operator who wants to gain a competitive advantage and maximize revenue? Perhaps, you’re a content creator who wants to take their video streaming skills to the next level by monetizing their content?
Are you a content creator who is looking for ways to reach a wider audience? Or do you own a production house and want to stay ahead of your competitors? In either case, it’s high time you start considering launching an OTT platform to expand your reach and skyrocket your revenue.