The rise of the OTT platform provides customers with the latest and more modern way of meeting their entertainment needs. In addition, users don’t need to spend their time viewing boring TV content on satellite cable and other traditional mediums.
Streaming through cable TVs has been replaced by OTT services. Users can make more informed decisions about what video to watch with the OTT platform. One thing that makes OTT platforms popular is their ability to personalize the OTT streaming channel. Thus, you don’t need to spend most of your time searching for a specific movie to stream.
OTT videos and TV series worldwide revenue is expected to reach more than $80 billion at the end of 2022. We can say that OTT platforms are designed to stay and replace traditional televisions with that in mind.
Understanding An OTT Platform
What is OTT? OTT stands for Over-The-Top platforms. This is one of the content providers increasingly becoming more popular over time. This is because numerous individuals go online to watch videos and movies for entertainment purposes.
ComScore report claimed that approximately 50 million households worldwide use OTT platforms along with traditional TV. In line with that, we can say that OTT video streaming services have entirely evolved and reshaped the conventional video content medium.
What is an OTT platform? It allows users to receive different media services, including video and audio, through the internet. Since it does not require traditional services like cable TV, consumers can easily browse and watch their preferred media services without any hassle.
In some cases, OTT refers to the technology or service that allows users to receive and provide live-streamed or even pre-recorded video content. The good thing about OTT is that you can access its services through different devices you can connect to the internet, including computers, OTT streaming sticks, smart TVs, tablets, and mobile phones.
Moreover, different OTT platforms not only allow video hosting and video OTT streaming. You can also find OTT platforms that support video monetization features, allowing you to earn money from selling your video content through bundled packages, rentals, subscriptions, or one-off purchases.
Some of the prominent OTT platforms patronized by many include Hulu, Disney Hotstar, Netflix, and Amazon Prime. The OTT market is divided into three categories according to the monetization model they use: AVOD (Advertising Video On Demand), TVOD (Transactional Video On Demand), and SVOD (Subscription Video On Demand).
What Makes OTT Popular
Several reasons make OTT platforms way better than cable and satellite televisions. Some of them are the following:
Convenient To Use
One reason behind the popularity of OTT platforms is the convenience they offer to users. Anyone using OTT platforms can access different content utilizing various media. In addition, users can also watch or listen to their favorite video or audio content anytime.
Considering that most individuals have access to the internet, using OTT platforms on different devices has never been a problem. On the other hand, traditional cable networks have geographical and physical restrictions that may limit your viewing experience.
OTT platforms don’t have such limitations, which allow users to view different content. All you have to do is sign-up for an OTT streaming account with the right cdn solutions (content delivery network). After that, you can start streaming all day long.
As mentioned, you can stream different media services on OTT platforms using other devices. OTT platforms offer VOD services, which allows you to stream multimedia services anytime and anywhere. In addition, users can download and install OTT platforms on different devices, whether Android or iOS-based. This means that you can stream videos and audio using any device. This is also applicable despite the network provider your mobile device has.
Traditional cable TV has restrictions on content variety, channel quality, type, and selection. In other words, they limit viewers of what content to watch. For example, they are restrictive in kid’s content, movies, live games, news, and series only.
On the other hand, OTT platforms provide different varieties of content to stream, including those paid and free versions. This means that viewers can choose whether to pay for Prime memberships. But, you can still access numerous media content even without subscribing to a specific plan.
Between traditional TV connections and white label OTT platforms, the latter is more budget-friendly.
An OTT platform allows you to stream content also offered on cable TV without paying high subscription costs. The only fee you need to pay is your internet data package. The price will vary depending on your OTT usage.
Another reason OTT platforms are more popular than cable TVs is their ease of use and access. It only requires reliable internet and a compatible device, such as your mobile phone or internet-based TV. This allows users to select which internet plan or package suits their needs and budget.
Did you know that OTT platforms are also popular in different industries, especially entrepreneurship?
Another thing that boosts the popularity of OTT platforms is their highly customizable features. For example, if you use an OTT platform for your business, you can create a more customized video library and player. You can select your preferred color and even embed your business logo.
Another exciting feature of the OTT platform that makes it well-known in different industries is video monetization. This allows users to do live video streaming or sell their pre-recorded videos.
An OTT platform offers other methods to monetize your videos, including AVOD, TVOD, and SVOD. So, if you like live OTT streaming and making exciting videos, you can make money from it through OTT platforms.
There is no doubt that OTT platforms have completely reshaped and improved the way consumers watch their favorite media services. Many consider it the latest and more innovative version of cable television because of its capabilities and unique features.
Unlike cable TV, OTT platforms are more budget-friendly and only require a reliable internet connection and a compatible device. Over-the-top (OTT) video platforms have become increasingly popular over the past few years.
These platforms allow viewers to access various programming without requiring them to pay a traditional cable or satellite television package. OTT services have also evolved to offer more niche content, such as sports, documentaries, and more.