Mobile apps have never failed to astonish us since their existence. It is smart how OTT platforms have taken the world by storm & have redirected users globally to rely more on their smart devices. This article will focus mainly on what OTT means, its benefits, the business, and its future scope. Let's get started!
Introduction To OTT
OTT is also referred to as Over-The-Top online streaming services that have transformed the face of conventional broadcasts & connectivity. OTT platforms allow the users access to videos and live streaming content with an app, availability of the internet, and a subscription on their smart gadgets. This tech has redefined the way people are consuming media & live content and raising lots of funds for the businesses that are stretching their services through OTT platforms.
If video streaming wasn't adequate, the OTT platforms also reached out to render audio, video call, and messaging services as well. OTT tech has become a massive deal, and there is no going back.
What Services Are Included Under The OTT Roof?
Over-the-top or OTT content streaming is a vast term, and thus, it's safe to separate the services for a better understanding of its possibilities & scope.
Scope Of OTT Services:
1. Online Audio Streaming – If video streaming is plausible, then why not audio streaming. A few perfect instances of OTT audio streaming platforms are podcast apps and online radio stations such as Amazon Music, podcast addict, Google podcasts, and more.
2. Online Video Streaming – The whole world knows about this service offered by OTT platforms. OTT uses the web to deliver video content to its users. A few online streaming apps & OTT platforms are Amazon Prime, Netflix, Hulu, and iTunes.
3. Messaging Portals – They are beyond just messaging apps; they are OTT-oriented quick messaging services. Google, Skype, Facebook, Telegram, Viber, FaceTime, and a lot more. The fame of such apps has touched skies, and now there's no going back to regular monotonous messaging.
4. VoIP Services – The whole world is familiar with WhatsApp, Skype, and Viber. Well, these are the most suitable examples of OTT platforms enabling voice calls through internet access.
5. OTT Sufficient Devices – Smart technology brings advanced devices to support their usage. Apple TV & Roku are the quintessence examples of such advanced gadgets enabling the user to indulge in video streaming content on their TV– a bigger screen indeed.
Which Devices Support OTT Apps?
OTT platforms are prevalent and thanks to the smart gadgets that facilitate the use of such platforms. Smartphones are indeed ruling our list of OTT enablers as they are extensively used. There are other devices too, such as smartphones, computers, laptops, Smart TVs, and OTT devices like Apple TV & Roku.
Advantages Of OTT Apps
It's the right usage of tech that can take a business to great heights. This is why OTT-enabled utilities like Skype, Whatsapp, Netflix, Amazon Prime, etc., are playing abundantly today. Such apps have multiple earning models, two of them being brands of ads and subscriptions. Netflix, for instance, levies a subscription fee from its users and in return, delivers quality content to them.
OTT platforms direct ads to the right zones. OTT platforms are technologically soundtracking the user engagement on ads making the best of these strategies. Previously, the broadcaster was unaware of how many people viewed their ads and what their response was.
OTT platforms are competitive enough to leverage advanced utilities at a better rate. Previously, consumers had to pay for a handful of channels they didn't want to watch. The scenario has changed now; people only pay for the content they want to watch.
Easy User Segmentation
Knowing your audience is a must for any business. OTT platforms widely contribute to user segmentation, helping marketers. For example, a video streaming app by top app development companies can divide users by signups, app retention, geography, episodes searched & watched, daily usage, etc.
The video quality, audio quality, and connectivity have improved with OTT in the picture. These platforms are great examples of internet usage to transform the culture.
OTT V/S VOD
OTTs indeed deliver Video On Demand services, but VOD has a greater premise. OTT apps like Hulu, Netflix, or Amazon Prime stream videos on-demand using the web, but there are still some VOD channels such as HBO GO that require verification from your TV channel provider. This draws a thin line but never removes the line between OTT & VOD services.
The Four Best OTT Platforms Examples
1. Netflix – The most popular online video streaming platform with 203.66 million paid subscribers globally.
2. Kaltura – The famous name for online business meetings, virtual conversations, classes, & more. They render virtual content, cloud TV, and much more.
3. VidMind- This UK-based OTT app offers broadcasters a chance to broadcast live content online without inconvenience and time consumption.
4. Dacast – The finest OTT live streaming, VOD, and video hosting SAAS technology-based platform.
Future Scope Of OTT Apps
OTT platforms undoubtedly have a brighter future as people who have begun using this tech will indeed not make u-turn conventional and monotonous entertainment modes. Especially video streaming apps. However, there still lies too much competition in the market.
For example, Netflix isn't the only OTT app displaying video streaming; its competitors like Disney, Amazon Prime, & HBO. The things keeping it bright are its high-quality content, video speed & HD, and uninterrupted performance.
With yearly revenue of USD 99.69 billion in 2020, this is a stated fact that OTT platforms' potential scope is superb. But to leverage, one must think out of the box in terms of quality & feature integration.
The Bottom Line
In the past ten years, OTT apps have reached heights in terms of popularity and usage, and their growth is directly proportional to the advancement in internet generations. If you own an idea of a powerful OTT app, then this is the time to give it a profound thought as this clearly represents the future of connectivity & media.