The OTT industry has picked up speed, while the pandemic may have slowed some industries down. The internet has completely reshaped each aspect of our lives as advertisers are well aware. It is particularly clear in the rapid increase of OTT media that is also known as Over-the-time. OTT covers all video content streamed through the internet; it is unlike traditional outlets, such as satellite or cable. These days, various top mobile app development companies in India pay attention to this. The OTT provides lots of different benefits to both the advertisers and customers. It provides a variety of content from the customer’s perspective, which is easier to access than ever before. In this post, we will discuss some latest OTT industry trends:
A lot of platforms are available that are ready to take the money of their viewers. So viewers have the right to choose and pick the services that they want to utilize. The user experience plays a significant role in the growth and success of different platforms. Often, viewers like to use those streaming services that are easy to navigate and have interfaces.
Apart from this, the best selection of content is always on the top of their list. For instance, after comparing any two platforms, you will see that one of them is easy to navigate and the selection of content is quite expansive that pleasing to the eye. Suppose one of them is most popular around some countries and the other is less popular, then the popular platform will release some movies and series on a larger scale.
For example, everyone knows about Netflix that is more in tune with the user experience. Their apps are easy to navigate and the algorithm is user-friendly on most devices. Moreover, any other indigenous platform can be awkward. The search engine of these types of platforms is not the sharpest. However, less popular platforms have one benefit over the most popular platform. They release all the episodes of a series at a time.
Another interesting thing about these types of platforms is that they release original series in the same fashion that traditional television does by steaming only one episode a week. Usually, people prefer those platforms which are most popular these days and provide a better user experience. A quick comparison between two or above two platforms will give you a better idea of what users want.
5G technology is changing the game
We look ahead to see 5G internet start to become standard, especially in urban areas in terms of OTT trends in 2021. This next-generation cellular network technology will offer more reliable and much faster internet speeds. In tests, 5G is approximately one hundred times faster than the 4G LTE networks. Since IHS Market has noted that video streaming will be 5G’s great app. Gains will be most clear for video streaming. IHS predicts that 5G will also be a bonus to live sports and event streaming.
The gains of 5G will become most clear when having low latency is decisive. The success of OTT content is that publishers will replicate that trend. For instance, if 5G provided a better quality video on mobile devices and decreased buffering, nearly 30% of customers will pay a premium. However, there are a few limitations to consider with 5G technology. For instance, walls and other barriers have a tendency to obstruct with 5G signals. However, if 5G doesn’t work, users can fall back to 4G LTE signals. On the other hand, with the help of this technology, the entire industry can change. At present, several of the best mobile app development companies in India are taking a lot of benefits from this 5G technology.
Allure streaming technology becomes accessible
It is about the latest OTT trends, 30 Mbps speed of internet is required for streaming 4K video. You ought to have at least double bandwidth for live video streaming. However, it is not very common for customer-grade internet connections. However, the rise of 5G will make possible an explosion in streaming video quality by making 4K streaming solutions likely. It will be accessible to stream 4K video with the help of additional bandwidth.
Expect Virtual Reality and 4K streaming to be defining features of the next one or two years. With these new network connections, 360 live-streaming will also become much more possible. In general, the streaming experience will be getting much more alluring in the future.
The release of Facebook’s Oculus was the one game-changer in the immersive streaming world. In the past, virtual reality comfort was upwards of $2000.
It makes this much more achievable for customers to get their hands of one of their own. Moreover, Virtual reality technology is presently most accepted among customers; Hence, it is gradually dropping into, unlike industries. These trends are probably to grow as technology becomes more reachable.
Media giants rule the premium market
The premium OTT market is going through some considerable shifts. After several years without major competition, most entertaining platforms have finally started. In the previous years, media platforms like HBO and Disney have release Disney plus and HBO Go Premiums.
Apart from this, the Disney plus application was downloaded nearly three million times in the first 24 hours when it was available. Additionally, other OTT trends consist of a big enhance in streaming services for sports events. These services are coming into the market with premium content, making it difficult for fresh sports broadcasting services to compete with these established platforms.
On the other hand, the correct way is that this new rivalry will depend on local market details. For example, analysts expect that Disney plus will compete with Netflix, but not with Amazon Prime and other services in India. Since these OTT trends and services increase, they are entering the majority in a way never seen before. Actually, in the online ads space, OTT advertising is becoming more and more crucial. Advertising revenues are looking for an unreasonable increase as more and more human beings start to utilize these services.
COVID-19 Sparks a Quick Change
The OTT industry saw a rapid spike in consumption in March 2020, as people started staying home in the US and Europe as per government mandated lockdowns. This spike hit a plateau within weeks. And the idea was that parents were starting to WFH and may not have their normal childcare. Therefore, the release of this and other children-friendly movies would purchase parents sometimes. Moreover, a couple of Netflix original series that was released at the beginning of lockdown. It is simply widespread awareness that likely would not have had as much success if people were not stuck at home.
Additionally, some other series with debuting casts found great success, as well. The emergence of technology is another interesting trend that comes during COVID-19 that allowed people to watch movies together on a video chat. This kind of platform allows customers to stream in sync. The purpose of top mobile app development companies in India behind it is to bring people together even when it was safer to be physically distant.
CTV Continues to Become More Popular
Connected TV, or “CTV” for short, speaks of streaming on televisions through OTT technology. This has become more famous over the past years as viewers have started watching more content on TVs as opposed to mobile devices. This is made possible complete smart TVs, gaming consoles, and keen streaming devices. Excitingly enough, the increase in CTV streaming has not caused a major decline in streaming on smartphones, tablets, and computers. For a few years, there was an overall preference towards mobile streaming, so it will be remarkable to see how this trend looks going onward. Amazon`s Firestick, Roku, Apple TV are some popular technology for CTV streaming.
Rise of the Subscription
With numerous OTT services on the market – Netflix, Prime, Disney +, AppleTV, Hulu, Discovery + have reached a point of maybe too many options in the OTT space both universally and locally. Best mobile app development companies in India gradually turning towards pay-per-view and advertising monetization models as another possibility to the subscription model. In some cases, we have started to see increased usage of bundling different subscription packages to generate channels. We’re previously seeing Disney+ bundle their videos with ESPN, National Geographic, and other content producers.
Competition Gets Tough
Even though many important conglomerates dominate the OTT streaming industry, smaller OTT streaming services are still exploding. Our team at Clear Bridge Mobile newly played a significant role in helping NESN launch their OTT service.
Numerous OTT hosting solutions are now available on the market, increasing competition while we used Brightcove as an online video platform to support the NESN app. Cloud-based OTT hosting is also emerging as a reasonable option.
These hosting solutions are required as people turn to these platforms for maintenance with content management and distribution. Some desirable features contain advanced security, video monetization, reliable content delivery, white-label streaming, and live-streaming capabilities.
We expect to see a more important number of smaller OTT streaming services launch in the upcoming years with lots of options readily available. With OTT subscribers predictable to beat 100 million by the end of this year, the potential for reaching broader audiences and tapping new sources of profits is massive.
Companies that can develop with the market will come out on top of the competition, and Services that fail to recognize the increasingly complex array of choices available to the audience will fight against those that address the essential for connectivity, possibly in hardware and content. Understanding the latest manufacturing trends will help set you in the right direction.
Benefits of OTT streaming
OTT advertising enables advanced targeting
Advertisers no longer have to make broad and often mistaken assumptions about a common audience, nor do they have to guess about a hypothetical demographic. OTT content providers advertising on a 1-to-1 vector. Top mobile app development companies in India can target a customer wherever that consumer may be, no matter what they’re viewing or what platform they’re watching it on. Even more significantly, OTT conveys a treasure trove of data about what observers watch and how they act. Advertisers can target people based on their exclusive viewing habits thanks to a complete description extracted in numbers.
First look rights to OTT content deal supreme selectivity
While much digital advertising is bought programmatically, brands have the chance to find an OTT partner with first-look rights. This permits an advertiser to avoid the targeting limits that inherently come with programmatic ad buying and brings several benefits. For beginners, advertisers get access to top-quality content. Moreover, they can strategically distribute ads to particular platforms and publishers, so they don’t see a large portion of an advertising operation go to a single outlet to fill an impression target. This makes a big difference in the general effectiveness of a campaign. It’s best to seek a partner with first-look rights to take maximum advantage of OTT advertising.
OTT features advanced attribution capabilities.
OTT advertising can make available attribution in a way that broadcast and linear TV never could. You can determine whether a person saw an ad through pixel-based tracking. Whether they went to an advertiser’s website, and how long they remained there once they arrived. Brands can obtain this data regardless of the device viewers use to watch content.
The Final words
This is all about OTT steaming trends and the benefits of OTT advertising. You can get the benefits of these unique trends like top app development companies in India. Hopefully, the information shared through this blog will be more beneficial for you according to your search. Feel free to contact us in the comment box if you have any queries. Happy searching!