What is an OTT Platform ?
OTT stands for “Over The Top” and refers to any streaming service that delivers content over the internet. Over the Top (OTT) Platforms refer to any type of video or streaming media that provides a viewer access to movies or TV shows by sending the media directly through the internet.
Broadly speaking , OTT Platform is any third-party solution that delivers a particular service via the Internet, thus bypassing traditional service providers.
An OTT platform, or an Over The Top platform is an audio and hosting service, offered directly to the viewers, via the internet. These media services can easily be accessed through mobile phones, laptops, smart TV, and other audio visual devices with internet connection. It is a platform that offers video and audio streaming of content over the internet. it has removed any inference of the cable operators ,satellite connection or broadcast mediums. As the OTT market grows globally, so has the demand for content localisation and access services like dubbing, subtitling, translation and audio descriptions. With the world becoming increasingly interconnected, the language services market is also growing rapidly. The global localisation industry has grown up to 40% in the last 3 years and is expected to surpass $2.5 billion by 2021 and OTT content localisation will be the defining factor for such growth.
Anyone with a paid subscription can register themselves get unlimited access to the media and entertainment source available on the various platforms. The services is synonymous with video on demand services and digital content at International level can be accessed.
How is OTT Content delivered ?
Mobile devices: Smartphones and tablets can download OTT apps from a supported digital storefront.
Personal computers: Most computers support OTT content viewing through desktop-based apps or web browsers.
Smart TVs: The latest TV models often include pre-installed OTT apps, or provide users with an option to download them.
Digital media players: Third-party devices like the Apple TV support a range of OTT solutions. Many modern video game consoles also include the ability to download and run OTT apps.
Why are OTT Platforms so popular ?
The accessibility of OTT Platforms content is one of the many reasons it’s so popular. This is mainly due to the increasing use of mobile devices for viewing video content and OTT technology are designed as a tool for delivering video content directly to your device -it could be a smartphone, tablet, or smart TV – using the internet instead of traditional distribution methods of cable or satellite. These platforms allow you to instantly stream videos on your favorite devices – IOS, Android, Smart TV, etc.
And one more important factor is THE COVID CRISIS. With cinema halls shut and film releases suspended amid the world-wide lockdowns, Producers and Studios are releasing their movies directly into the OTT Platforms. It has turned out to be a boon for these platforms, which are witnessing a growth like never before. People in lockdown were obsessed with them cause they can enjoy movies and web series at home itself. The user base has swelled from 23 million in April 2020 to 31 million in February this year. Most users subscribed to more than one OTT platform.
OTT INCLUDES :
Over-the-top (OTT) video viewers: Individuals who watch video via any app or website that provides streaming video content and bypasses traditional distribution. Examples include HBO Now, Hulu, Netflix, Amazon Video, YouTube/YouTube Red and SlingTV.
Connected TV (CTV)/Internet Protocol TV (IPTV) users: Individuals who use TV sets connected to the internet through built-in internet connectivity (Smart TV) or through other devices with the functionality such as a set-top box (STB) devices (e.g., Apple TV, Google Chromecast, Amazon Fire, Roku), Blu-ray players or gaming consoles.
Linear OTT video service users: Users who subscribe to a service that delivers live TV channel bundles over the internet for a monthly subscription. Examples include Sling TV, DirecTV Now, Hulu with Live TV, YouTube TV and PlayStation Vue.
Common sub-categories of OTT/CTV users include:
Advertising-based video-on-demand (AVOD): Users access free-to-watch content which is then monetized through video advertising.
Subscription video-on-demand (SVOD) – or Subscription OTT: Users who have a paid subscription access to streaming video content.
Transactional based video-on-demand (TVOD): Users who have paid to access certain content through a pay-per-view (PPV) purchase model.
What are the biggest OTT Opportunities ?
Despite these challenges, OTT technology has immense potential. Video streaming services are on the rise globally, with North America representing the most mature markets at a 51% adoption rate. Europe and Asia-Pacific are seeing impressive growth as brands like Netflix expand internationally. Beyond global adoption rates, major opportunities exist in non-entertainment markets. One recent survey determined that 50% of OTT subscribers pay for educational content, usually in the form of instructional streaming platforms. Streams that emphasize children’s programming or health-based content might hold immense potential
OTT platforms should also consider the benefits of tiered monetization. While most solutions are subscription based, 20% of subscribers also made in-app purchases in 2018. Casting a wide net when it comes to monetization methods could help OTT solutions grow in the years ahead.
Performance marketing has proven to be an especially successful method of attracting subscribers to OTT platforms in a way that is scalable and predictable for marketers.
Over-the-top media services have been with us for years, but they clearly have room to grow. Increased diversification and competition suggests the market is healthy and growing, and many opportunities remain untapped. Whether you’re following up-and-coming platforms, or enjoying the latest Netflix original series, OTT clearly represents the future of media. It’s an exciting time to be a part of it.
Why do users prefer watching OTT Content ?
Exclusive content : OTT providers like NETFLIX, AMAZON PRIME, HBO MAX and DISNEY+HOSTAR offer plenty of unique and original content for their viewers, which is only available on their platforms.
Reasonable price. You can access thousands of movies and TV series through OTT services wherever and whenever without paying a fortune.
Multiple сompatibility. You don’t need to have a TV to get access to your favorite shows anymore. Instead, you can use mobile phones, smart TVs, computers, tablets or video game consoles.
OTT Platforms 