OTT is the future of entertainment, which has already started taking over the industry. The OTT is the abbreviated form of Over the top. OTT refers to the streaming of content directly to the viewers through the web. Again OTT platforms similarly are the platform through which The content is streamed. These services eradicate the controllers or distributors of these media. In this blog, you’ll explore the OTT platforms:
Any audio, video, or media provided through the internet without any Multiple-system operator ( MSO) is OTT. These services are monetized usually through paid subscriptions. But, in some rare cases; there might be In-app purchases, advertisements, etc. There are three major types of OTT content available. The most popular one is the television service.
Types of OTT content
It is usually known as Online or streaming television. The signal is received over the internet or cell phone network. You can watch various shows, series, etc through it. The best part of Online television is you can watch it anywhere. You can also watch it at any time of your choice.
It is an instant messaging or online chat service provided over the internet. This service is given by a third party. It is widely used instead of text messaging provided by mobile networks. Some widely used apps are; Messenger, Viber, WhatsApp, etc.
They are also known as voice over internet protocol (VoIP). This includes both voice and video calling options through the internet. Facetime, Skype, Zoom, etc are examples of OTT Voice calls.
Top 5 OTT platforms
There are many OTT platforms available. Among them, some top platforms according to the subscriber are given below. They are the best OTT platforms of 2021.
- Amazon Prime Video.
- HBO Max
- Apple TV+
It has over 214 million users worldwide. And it has 158.8 million users in the US. It is an American subscription-based app used to stream videos. Netflix was launched on 1997 august 9. It has a wide group of movies available to watch. There are different packages users can choose from. The Premium gives you the best experience. It costs around 11.99$ per month.
Disney+ has over 118 million subscribers worldwide. It was launched in 2019 November in the USA. Its management is done by the media and entertainment distribution of Walt Disney. It is popular for the delivery of great cartoons and movies. A few of the original Disney+ movies are; Frozen II, Avengers: Endgame, etc.
Amazon Prime Video
It has 117 million subscribers, the rating and pricing are very good. You can choose a plan that is suitable according to you. It costs around 12.99$ per month. You can download this app through the play store or app store. It was launched in late 2006. Read more about Amazon Prime Video.
HBO max is an American OTT platform that provides video on demand. It is owned by AT&t’s media and was launched in 2020. It is not available all over the world. HBO Max has 69.4 million users currently. It is often confused with HBO now and HBO go.
Apple TV+ was launched in November 2019 and owned by Apple Inc. The service provided can be easily accessed through Apple’s website or app. It can be used in Apple products and some major streaming devices. It currently has around 20 million users.
Traditional and OTT platform for watching cinema
Since we are now familiar with OTT, let’s look at the traditional way. The traditional way of watching cinema is CTV ( Connected Television). Another Traditional way can be visiting the cinema hall. There is only a slight effect on the number of people visiting cinemas. The television industry has vastly evolved, but still, there are many people using CTV.
The major differences are mentioned below. OTT is generally subscription-based, whereas, CTV is ad-based. Many people are opting for OTT mainly due to its flexibility. The flexibility is in terms of content, time, place, device, etc. You can easily watch live streams and choose what you want to watch. It has more exciting features. You can choose a package of your choice and add additional channels, content, etc. You get billed accordingly.
The number of OTT platform users is highly increasing. And most of the services are focusing on “cord-cutting”. But, still completely eradicating the traditional way may not be possible. And, when it comes to cinema halls, it is even harder.
Domino Effect of OTT platform
In general, the domino effect is the succession of an event leading to a succession of similar events. The rise in OTT has a positive effect on similar sectors. This is the domino effect in the OTT platforms. The development and evolution rate of OTT has been remarkable. Some Places that have had a positive impact are mentioned below.
Effect on online video platforms
Online video platforms have grown immensely. It has had a huge positive impact on subscribers of different OVPs.
Effect on OTT services
The OTT services have also taken a flight with the rise in OTT. Many subscription-based companies were successful in gaining users. They have gained both regional and international subscribers.
Challenges for OTT platform
There are many OTT businesses flourishing. There is a high demand for content. But, there is a high risk of failing. Many things can lead to the failure of OTT businesses. The major challenges faced are;
1) Broadcasters not being able to understand the audience. You need to have a good understanding of your target audience. Also, You need to know your competition and trending matters. Then You should try not to repeat the content already available. Also, consider the genre of movie series they prefer.
2) Make sure that you are using the right technology. The world of technology keeps evolving, make sure you are up to date. If you are not adaptive, it will be very hard for you to succeed.
3) Customer satisfaction plays a huge role in business. Make plans accordingly, poor user experience can lead to failure. In case of any complaints, come up with solutions.
4) Managing your expectations can be difficult. Sometimes, monetization of your content right away might not be possible. You might have to provide effective data for free for a certain time.
What is the limitation of OTT platforms?
Although OTT is a remarkable development it has certain limitations. The major limitation is people with poor internet connections. Another problem is the security and privacy of data and users. The poor internet connection leads to not having smooth streaming.
What are the advantages of the OTT platform?
The first advantage of OTT is transparency. You can easily find out who is viewing your content. The traditional method was focused on large sample size, unlike OTT.
OTT is going to play a vital role in the world of cinema. It has already replaced Traditional Tv in many households. The OTT has taken over messaging, calling, etc as well. OTT can be a great supplement to the traditional way but not a replacement.
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