Did you know that 71% of the internet users in the US own an OTT device? Or that 64% have an active OTT subscription? That rounds to about 182 million people in the US alone. Netflix has 152 million subscribers spread throughout hundreds of countries around the world. And during the lockdown period they got 16 million new subscribers.
According to a Nielsen report, United States adults are watching five hours of television per day on average. Many predict that Video on Demand will surpass traditional TV in the next five years, both in terms of hours and marketing dollars.
These are massive numbers. As audiences continue to watch TV on a massive scale, the challenge for video streaming businesses is to not only create a meaningful and engaging experience for audiences. It is also to captivate them everywhere, wherever they are.
The impact of Covid on video streaming businesses.
According to a survey, online video consumption has gone up by 46% during the lockdown period. Covid-19 has further accelerated the growth of the already thriving video streaming business. Netflix alone has gained over 16 million subscribers during the lockdown period.
While VOD (Video on Demand) was already beginning to overtake traditional methods like cable, this period has bumped that pace up tremendously.
What channel is best for my business?
According to a Vox media report, most of the signups for Netflix happen via desktop and mobile while 70% of the actual viewing happens on the big TV screen. Which essentially indicates that having an omnichannel approach is an important factor in your video monetization strategy.
By omnichannel approach, we mean two things: One being available everywhere, be it desktop web, mobile, or OTT. And MAZ continues to focus on fulfilling this goal by providing beautiful and powerful web, mobile and OTT solutions to its clients. The second is providing a seamless transition from one platform to another when the user switches its touchpoints let’s say from web to TV. MAZ, by powering its apps and websites via the same backend, makes this transition smooth and carries over the preferences and purchases seemlessly.
We at MAZ systems empower the content creators to make best use of their creative skills to produce the most captivating content. We provide the technology to distribute and monetize their content across the breadth of the user base, be it mobile, OTT or web.
What is MAZ Web?
MAZ web is a product offering by MAZ, that enables content creators to produce captivative video streaming websites. With MAZ Web, content creators can organize, distribute, promote and monetize their videos without having to worry about writing code, or hiring a development agency.
What is MAZ OTT?
MAZ OTT is a product offering by MAZ, that enables content creators to produce beautiful and captivating channels across TV app stores like AppleTV, ROKU, Amazon FireTV and AndroidTV etc.
What is MAZ Mobile?
MAZ Mobile is a product offering by MAZ that lets content creators produce beautiful and engaging mobile apps for their video and audio content.
How can I get my video business onto Web, OTT and Mobile?
MAZ offers the world’s best technology platform to help launch and run your video business on web, OTT and mobile apps. It is built keeping in mind that you need to focus on creating captivating and engaging content, and the technology is taken care of by us.
Is this the right time to get into a Video business?
Absolutely, This is a great time and great opportunity to get on all the screens and create a branded channel for your audience and substantially deepen and redefine engagement, and monetize your video content.
Written by MAZ’s Shikha Arora.