What's the point of owning a business if you're unable to acquire new users and increase your existing revenues? With the right resources and guidance, growing your customer base and getting users to spend more money on your OTT app is easier than ever!
Over-the-top services (OTT) aren’t just a new fad. Streaming video content and video-on-demand have become as important as broadcast television and traditional film presentation, and promise to gain more traction in the years to come. In fact, the OTT market is predicted to reach $223 billion by 2026 – a CAGR of 13.87% over the first half of this decade.
The United States is not the only place video streaming is on the rise. The European over-the-top (OTT) market is equally hot – proving that streaming media online has become a universal norm. In fact, subscription revenue from OTT platforms is expected to reach $18.24 billion by 2025 – a CAGR of 13.5% – over the period between 2019 and 2025.
What’s the one thing that immediately drives you away from an OTT platform? If you’re like most people, chances are you can’t stand slow streaming speed and high buffering time. The increased latency is one of the key factors that impact the viewing experience on any video streaming platform.
Live video and over-the-top (OTT) streaming were already popular before the pandemic hit. They grew significantly during the worldwide shut down, and that growth won’t slow anytime soon. There are best practices a business or organization should follow to gain an audience and find long-term success in the post-pandemic world. It would be best if you considered each of these before attempting to bring your content live.
Video consumption swelled in 2020. That’s a fact. Netflix alone added over 37 million new paid subscribers last year, while other OTT video streaming services and live broadcasters are getting a sizable new chunk of audiences, too.
The landscape of video streaming and OTT platforms has witnessed a massive transformation in recent years. The adoption of streaming services has further escalated due to the COVID-19 pandemic. In fact, the global OTT market will be worth $194.2 billion by 2025, growing at a CAGR of nearly 14%.
OTT viewing is becoming the default behavior in the U.S., replacing the traditional methods of consuming content via pay-TV. Around 51 million households are now streaming their OTT content on their television sets, either on the web or through different apps. Tim Cook had declared in 2015, "the future of TV is apps," and viewers are proving him right.
Video technology has evolved over the years, and people are increasingly consuming more and more video content. Cisco went so far as to predict that by 2021, videos would constitute about 80% of the entire internet traffic.
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.