OTT (over-the-top) is the means of delivering television and film content via the internet at the request and to the specifications of the specified user. The term “over-the-top” implies that a content provider goes over the top of the existing internet services.
Thanks to OTT TV and OTT Video Platform, people now have countless options at their fingertips. They can access content using multiple devices, including Smart TVs, Roku, PCs, tablets, mobile phones, and gaming consoles. They can also access other distributors for specialized programming and see channels through “app switching,” giving customers more control over the content they buy and watch.
To show how successful this OTT platform marketing strategy is for your business, we’ve compiled a list of the top OTT Platform statistics.
- As of 2019, 24.6 million homes had cut the cord; this number is expected to increase further in the coming years, reaching 46.6 million by 2024.
- By 2027, OTT app revenue from video downloads is estimated to exceed $5 billion (Source)
- By 2027, the number of active OTT video download users is expected to increase to 761 million (Source)
- By 2027, the number of OTT Video users is expected to reach 459.1 million.
- By 2027, OTT Platform Revenue is estimated to exceed $476 billion (Source)
The idea of “OTT TV” has been one of the major forces behind this transition, but what exactly does OTT TV mean, OTT TV full form, how to increase engagement in OTT, and how does it impact the future of the video industry? This blog has everything you need about OTT TV.
Let’s Get Started!
What is OTT TV?
OTT TV stands for “Over-the-Top Television.” It’s a term that describes when people watch video content on their TVs directly from the internet by downloading OTT apps to smart devices such as a Smart TV or gaming console. Due to the popularity of the OTT TV App, users no longer need to subscribe to monthly cable or satellite TV services to stream their favorite content. Although some OTT services need a subscription fee, there are also many free options. This freedom of choice has brought OTT to the attention of over 2.13 billion people worldwide.
How OTT TV Is Changing the Future of the Video Industry?
Viewers can enjoy the best news broadcast in OTT, thanks to 5G technology, localized videos, immersive streaming, and customizable UI. In this section, we will walk you through the four OTT strategies driving this change.
Technology Is Transforming Media Broadcasting
The ultra-low latency and high-quality speed of 5G networks will allow content creators and users to stream and view 4K videos on mobile devices. As a result, news anchors no longer need professional studios because it enables freelance journalists to create news channels and videos using OTT platform marketing. Overall, 5G is setting a new media industry trend of capturing and broadcasting news from anywhere in the world.
Localizing Multilingual and Multicultural Media Content
In every way, OTT is localizing media content. Live captions and subtitles allow multilingual audiences to interact more effectively with the news broadcast. Furthermore, several content recommendation engines in OTT suggestions help you cater to audiences from various locations while integrating multi-cultural preferences.
New and Innovative Live Streaming Trends
With the emergence of augmented and virtual reality, live streaming is getting more exciting. Viewers can now have the same, if not better, experience as if they were in the newsroom or event location. The plus is that you can use this technology for any type of broadcast, such as live debates, seminars, and sports broadcasts.
Customized User Experience
Most OTT services now use AI-based recommendation engines. These recommendation engines monitor the viewer’s surfing history and provide customized watchlists and an enhanced user experience.
In the streaming media industry, the combination of control and accessibility is causing a change. While content providers need easy access to their audience and control over their revenue and content, users expect quick access to content and flexibility over what they watch. And this change is impacting more than just the entertainment sector and Fortune 500 companies.
Over to You!
OTT Marketing Strategy allows content creators from any field to build a successful streaming platform and also appear on TVs worldwide, and a few of them are as follows:
- Youtube Creators.
- Fitness Instructors.
- Media Companies.
- Yoga Instructors.
And considerably many more are realizing the benefits of an easy-to-use OTT TV service.
Imagine you’re a Yoga Instructor looking to expand your business outside your local studio.
By using OTT TV to stream your classes on Smart TVs, you can expand your company and also let your students participate from the comfort of their own living rooms.
Do you know?
OTT TV will grow even more vital in the coming years – whether it is getting access to cord-cutters or reaching a broader audience for your specialized video business.
People are increasingly opting to stream their content using the best OTT TV app solutions. Simply having a presence on these devices will help your business also reach more people and increase revenue.
The Bottom Line
The future of the video industry lies in OTT and OTT Marketing. According to the most recent media business trends, most media companies now prefer to broadcast over OTT platforms to reach their viewers at any time, also on any device, from anywhere. So, if you’re looking to build an intuitive, high-quality OTT TV app for an affordable price, VPlayed can help.