Over-The-Top (OTT) platforms improve user accessibility to content. Video content producers and distributors can use an OTT solution to retain and attract more clients.
OTT platforms are the now and the future. Streaming has a massive user base. For example – did you know there are some 3.5 billion users of OTT streaming services? Consumers love that it’s affordable, convenient and delivers content on-demand.
Let’s delve more into the world of OTT platforms.
Streaming has been around for longer than you may realize. According to Wikipedia, StarWorks produced the first streaming commercial in 1992. In 1995 Microsoft came into the market with a media player called ActiveMovie – which changed to Windows Media Player in 1999.
Today we have ‘streaming wars’ between the big media streaming providers, including:
- Amazon Prime Video
- HBO Max
For many years, cable subscriptions were popular but expensive. OTT applications or platforms, however, are more affordable.
According to the Federal Communications Commission, a basic cable service rate was around $25.40 per month. The expanded basic service, on the other hand, was around $71.37 in 2018 alone. How about OTT apps? Also, research conducted by Zemoga, an average consumer spends more or less $8.53 per service every month.
Accessible and Convenient
Consumers can watch movies or other video content from their devices at any time, which presents an ample opportunity for businesses keen for brand exposure via adverts or tailored content that interests target audiences.
Another reason why an OTT app is famous is the control it gives to its valued customers. It’s just that OTT users need to have multiple subscriptions. But it does not really matter to them as long as they can customize their viewing experience.
OTT App Service
Your video services business can set up an OTT app in the cloud. Or another option is to first understand what does on-prem mean and then those the best option for you. There’s the debate of on-prem vs in the cloud for most apps, though cloud computing is more famous for cost, reliability, and security.
Providing an OTT solution for your clients will help them get their content to their audiences.
The good news is more than half of households are already using OTT apps. Recent studies revealed that approximately 64% of Wi-Fi-connected homes in the US utilize OTT apps for almost 100 minutes every day.
Around 40% of these homes already invest in devices like Apple TV or Roku Box to stream videos straight to their television.
According to experts, OTT app usage is estimated to thrive to a $120 billion industry by 2022.
Consumers Expect Customized Content
It’s every streaming business dream to provide a customized client viewing experience, and building an OTT app can turn that goal into a reality.
Studies have revealed that consumers are drawn to businesses that personalize their offerings. Hence companies invest in disruptive technology, including IoT, artificial intelligence, cloud, machine learning, and analytics, to take the engagement of potential customers to new heights.
Return On Investment
Developing an OTT app will help your clients reach their audiences and secure more sales – this is a win-win outcome.
Your clients can use your OTT app to stream their business content, including:
- product or service tutorials
- help guides
- introduce new offerings
- advertize deals, giveaways
OTT advertising is more targeted, i.e. it will reach fewer consumers than a TV advert; however, less can be more, i.e. fewer eyeballs but higher conversion rates due to the personalized content and relevance to the audience.
OTT ads are no less professional than what you get on TV. However, they are shorter and formatted for all devices from the smartphone to the large monitor or smartTV.
Businesses are constantly seeking innovative ways to get higher rates of conversion from their brand and marketing campaigns. OTT platforms remain ripe for companies to advertise and share relevant content in video format direct to consumers devices via the internet.
Video content creators and distributors can add an OTT streaming service to the mix with an OTT app to reach more customers and remain relevant in the OTT arena.