Rise of OTT Platform: What’s the Want for Excessive-quality Content material

Digital content material consumption is rising quick, and all because of easy accessibility to internet-enabled

Digital content material consumption is rising quick, and all because of easy accessibility to internet-enabled cellular knowledge. Leisure content material consumption conduct of individuals has modified dramatically from Doordarshan to the Direct-to-Residence transition. The enlargement and emergence of OTT platforms are reworking the leisure panorama; nonetheless, the tectonic shift is unquestionably not clean.

A number of current TV channels have forayed into the OTT house; therefore it is going to be fascinating to see how with giants like Amazon Prime and Netflix. The demand for native and distinctive content material has been rising in recent times. Steady demand for high-quality content material inspired OTT service suppliers to provide you with new concepts and supply their focused viewers with what they love to observe on their screens.

What’s the Over the Prime (OTT) Platform?

Over-the-top (OTT) media service is a media service offered to viewers by way of the net. OTT broadcast, satellite tv for pc tv, and bypassed cable platforms; all these corporations act as distributors or controllers of high-quality OTT content material. The time period is quite common to subscription-based video-on-demand (SVoD) companies that present entry to online movies, TV series, and many more original contents.

OTT services are accessed through websites on personal computers and apps on mobile devices, televisions with integrated Smart TV platforms, and digital media players. The number of households in 2020 for traditional TV services in the US is projected to reach around 31.2 million. In 2019, more than 24 million households cut the cord; the figure is expected to increase in the upcoming years. It is forecasted to increase by 46.6 million in 2024.

Source: (Statista)

OTT platforms have introduced new delivery methods for watching high-quality content online that also without the need for cable, traditional broadcast, or satellite pay-TV providers. Most people these days are ready to pay for unique and high-quality content access on the video streaming platform like Netflix or any other they prefer over traditional cable TV.

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How is High-Quality Content Delivered Over OTT?

The OTT market size was valued at around $121.61 billion in 2019. It is estimated to reach around $1,039.03 billion by the end of 2027; it is forecasted to grow at 29% of CAGR between 2020 and 2027. OTT content can be viewed and downloaded on users’ demand. This type of content simply includes TV services, movies, and more, which is delivered over the web to connected devices like smartphones, tablets, and more.

Source: (Allied Market Research)

OTT servers are at a nascent stage and are accepted as a trendy technology globally. Its market is forecasted to experience advanced and innovative transformation, enabling the customers to access everything they want under one roof. Easy access to OTT content is one of the primary reasons for its popularity. Viewers require high-speed internet and a smart device that supports video streaming platforms to access OTT content.

Mobile OTT Devices: Smart device users are able to download OTT platforms to stream.

Personal Computers: Users can access OTT content over the web browsers through the website or desktop-based apps

Smart TVs: Few of the best examples of this are Apple TV, Roku, Firestick, etc. However, game consoles like PlayStation often support OTT apps.

The use of modern technology makes OTT video delivery easier. Streaming video files are stored on service over the network where the bandwidth available might vary. Content delivery networks (CDNs) are used to store pre-recorded content and distribute it through the internet. When any viewer consumes a video to stream through the app, a request is sent to the local CDN to get a manifest file of that video chunk and request to the relevant DRM (Digital Rights Management) server for the media key to decrypt video chunks.

Reasons Why Viewers Prioritize Content Over Price

The power of OTT platforms enables the audience to watch the content of their choice in the comfort of their homes. This has made the audience move from supervising Ramayana (1987) to Squid Game (2021), this clearly reflects the change in content consumption patterns of the audience and also the impact with which these video streaming platforms are reaching diverse strata of the society. From brand marketers to content creators, all are using such platforms to drive more engagement in digital media.

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The OTT industry is increasing steadily; according to a report by MICA’s Center for Media & Entertainment Studies, India alone has 350 million users, showing enormous growth in OTT subscribers. However, the number is expected to grow higher and reach around 500 million users by 2023.

There is a growing demand for “quality” content that caters to all age groups and keeps them engaged with the OTT platforms. Moreover, restriction on physical movements and lockdowns has filled the growth of the OTT video streaming industry. There are many more reasons that explain why users prioritize content over price.

Availability of Diverse and Quality Content

Unlike TV content, OTT audiences have the flexibility to surf across a slate of high-quality and diverse content in multiple formats, categories, genres, and languages. It ensures to provide viewers with quality, exclusive, and original content. It became easier for subscribers to access original programs before they went live in other places; this is one of the significant drivers for subscribers, who are ready to pay more for content.

Meeting the Demand for Regional Content

More viewers these days are demanding content that reflects their local ideologies & culture and is available in their native language. Though cable TV offers regional language content, customers rarely have multiple choices in choosing a particular show. The growing demand for local or regional language content is growing, which can’t be accessible via Direct-to-Home (DTH) platforms and other conventional entertainment mediums. This gave a boost to regional OTT players that are serving regional content to local viewers.

Undoubtedly geographical boundaries blurred with the OTT platforms. This results in more comprehensive exposure of audiences to cultures, socio-economic-political, and traditional aspects of different regions. And all the diverse content is consumable and available in one package, unlike in cable television or satellite.

Personalized Content Package

Emergency technology and top trends have made it easier for audiences to have quick access to the content they love to watch on their smart screen. They are more likely looking for a “perfect” bundle of subscriptions and are ready to pay more to have access to the content of their choice, be it live sports, on-demand TV series, movies, or anything else they are finding all under one subscription.

Amdocs research shows that more than half of the OTT platform users are willing to pay more for binge-worthy TV series. Whereas younger and digital naive customers appreciate the quick and convenient access, they get while using OTT platforms. They are ready to pay to personalize their “perfect package” based on their ever-changing viewing needs.

Anywhere and Anytime Access

Over-the-top platforms provide users to access the content of their choice anytime and from anywhere, making it the most preferable choice among large groups. It also provides convenience to view content on their preferred device like smartphones, PCs, smart TV, and more. On the other hand, DTH services can only be accessed on TV, making them less preferable to OTT, especially for Gen-Z and millennials.

Conclusion

Viewers’ content is evolving continuously, driving them to seek high-quality content, even if it comes with a paid subscription. Diversity in content demand leaves enough room for every existing and new OTT player who is planning to launch their venture in the entertainment space. Looking at the continuous growth of OTT platforms, it’s worth saying that it’s the slow death for traditional content delivery platforms and the beginning of the OTT era.


Author Bio

Gaurav Kanabar is the Founder and CEO of Alphanso Tech; an India-based IT Consulting company that provides video streaming script and other app development services to individuals as per their specific demands. Besides this, the founder also loves to deliver an excellent niche helping readers to have deep insight into the topic.

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