With an annual average of 2.84 million concurrent viewers, nine million streamers as of 2021, and a steadily growing annual revenue that topped $750 million in 2020, Twitch reigns supreme in live streaming for gamers. Not to mention, while gamers are by far the most common broadcasters on Twitch, other live streamers like musicians and sports commentators have also taken to the platform.
monetize on ott
There’s no question that the past five years have seen exponential growth in the online video streaming and over-the-top (OTT) markets. As of 2020, viewership had grown 72% year-over-year, and growth in Q1 2019 was 49% faster than in 2018. In 2021, the live streaming industry is set to reach $70 billion.
SVOD or Subscription Video on Demand is one of the three popular revenue generation models for OTT platforms. In this form of video monetization, you typically charge a fixed fee monthly or yearly to give customers access to your video content.
YouTube has held the most popular video monetization platform title for a long time.
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.
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?
The digital age has made it imperative for entrepreneurs and marketers to brainstorm new ways to reach their customers. While social media marketing and content marketing continue to rule the roost, OTT or over-the-top apps are becoming increasingly effective as customer acquisition tools. In fact, Netflix, Amazon Prime, Hulu, and other such apps are fast replacing traditional TV channels.
The streaming TV ecosystem is growing rapidly, and the pandemic has only accelerated consumer adoption to OTT. There have already been over 1.4 million subscribers leaving cable in 2020 and counting. As experts in the OTT space, our team at MAZ only sees this growth going up in 2021 and beyond.
Online TV streaming and OTT (over-the-top) have flipped the world of video on its head. Millions of viewers are cutting cable in favor of internet streaming platforms. In fact, OTT will reportedly be worth over $160b by the end of 2020. But how do all these companies work? What are the most common OTT business models? And how can you monetize your own video streaming channel?