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Without a doubt, video is the most engaging type of promotional content available to businesses in the information age. In fact, by 2022, video will make up 82% of online consumer traffic. Businesses of all kinds are taking advantage of video, not only as a promotional tool but also as a bona fide business model.
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.
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.
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.
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.
If you are considering VOD app development, the timing is just right. On-demand and live streaming markets are still in the high-growth stage. So you too can tap into the new revenue pools.
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.
From media to telcos, Over-the-top (OTT) app development and services are becoming increasingly important in the future of almost every industry. In 2019, the OTT market's value stood at $85.16 billion, and the number is expected to reach $194.20 billion by 2025. This shows just how big a threat OTT is to commercial TV channels, fueled by advertisers' and viewers' migration to the internet.
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.