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Last year, global mobile consumers clocked in over 935 billion hours, watching content in mobile video streaming apps. That's 65% up from the year before! Unsurprisingly, Netflix was among the fastest-growing entertainment product across several global markets, moving past the 200 million paid subscribers mark.
Unlike the traditional TV of decades past, today’s viewers seek more diverse viewing options. They’re watching their favorite content on mobile devices, game consoles, Smart TVs, and other connected devices.
Getting Started With Your First OTT App
Never has the value of OTT apps been more realized than during the coronavirus pandemic. With an increase in the number of millennial cord-cutters, OTT provided light when things were plunging into darkness during the global disaster. Mental health issues were on the rise and OTT offered relief from the ample free time that was pushing people into overthinking.
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.
In a general sense, television viewing has been disrupted permanently by internet technologies that allow fast, reliable, high-resolution video streaming. The sports world has taken advantage of this, utilizing over-the-top (OTT) platforms to either supplement traditional TV broadcasts or to supplant them altogether.
2020 has been a massive year for OTT platforms and businesses. And 2021 will only get bigger. As lockdown orders took place, millions of viewers turned to OTT streaming services like Netflix, Disney+ and Hulu to stay entertained. This created an enormous opportunity for video streaming companies and publishers.
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.
2020 has been a time of growth for digital media and OTT streaming businesses. Research shows that video streaming has grown tremendously, especially since stay-at-home orders went into effect. While phone and desktop consumption have been leading this surge, connected TV is not far behind and has expanded its reach.
Here’s a common story for video publishers: They want to launch a new app, but they have a super tight deadline.