What is OTT?
OTT stands for “Over-the-top”. In layman’s terms, It provides video content to the viewers through the internet, whenever and wherever they want. The term clears itself, it implies that the provider is going over the top of existing internet services to provide content to the viewers. Over the top is just a simple term that explains the evolution of the TV industry. And the new ways of delivering video content, like, movies, series, etc.
The most fascinating thing is that now the user is not dependent on just a television screen to get entertained. As the OTT platforms are available on multiple devices like computers, mobiles, tablets, Smart TV, etc. As long as the device is connected to the internet. Users can consume the content without the need for a broadcaster, cable connection, or satellite service.
What is an OTT platform?
OTT services are the services that let you stream or consume your favorite video content. Whenever you want and wherever you want without the hassle of staying connected to a cable connection.
These platforms are media services that provide video streaming content to the users via the website or apps. These services can only be accessed through the internet instead of the old traditional distribution networks. Users can stream content through these platforms anytime they want, without waiting for their favorite show or movie to air.
The best and known example of an OTT platform would be Netflix. As it has gained popularity in the past few years. However, Over-the-top should never be confused with VOD (Video on demand). Well, that’s for another blog, let’s just focus on OTT for now.
For your perusal, here’s a list of top platforms:
So, this was about what is OTT and some of the known examples of OTT platforms. Let’s just dive deep into the industry and learn a bit more about it. Let’s know, how OTT can revolutionize the media industry.
Why is OTT better than the traditional way of watching video content?
With OTT technology, users have a lot of options to choose from, at their fingertips. They can stream on multiple devices like Smart TVs, mobile phones, computers, laptops, etc. Moreover, there are other advantages as well, and those are as follows:
- Stream Anywhere
Users can stream anywhere they want, as long as the user has a working internet connection.
- Advertisement free content
Over the top platforms has opened up the possibility of advertisement-free content. Now, the advertisement won’t interrupt users’ watch time. As mostly every OTT platform has adapted some sort of paywall. Users can pay monthly, yearly, etc., and can enjoy the content without any advertisements. So, this way the platform owner doesn’t have to show commercials to the viewers.
- Stream Anytime
With the freedom of going on the internet and search for their favorite content. Users can stream anytime they like, there is no boundation of timing to watch the content or whatsoever.
- Freedom to choose
More than ever, the consumer is in charge. The content is directly available to the consumers. They can watch whatever they like. So, there is the freedom to choose.
Difference between Over-the-top and traditional TV?
The traditional way of consuming the content is when a Television requires a cable connection and a subscription pack to provide content to the viewers. Also some long, nerve-wracking commercials in between the viewing experience.
However, on the other hand, OTT content can be streamed anywhere just through an internet connection. Moreover, there are a lot of other differences between OTT and TV. But this will undoubtedly be the biggest difference between the traditional way and the modern way of consuming content.
How do OTT services works?
There many ways you can access these services, via your computer, phone, tablet, smart TV, or gaming console, etc. You don’t need a subscription to a service provider, but you may need a subscription to the platform depending on the service. This is the case for services like Netflix and Hulu, where users can access curated content at any time with a monthly or yearly subscription. And this is how the OTT services work and the platform providers earn.
Future of the industry
While the world stayed quarantined in their homes during the COVID-19 lockdown period. The one thing a majority of the population claimed that has kept them entertained during such times was access to the OTT world.
These ‘Over-the-Top’ platforms are arguably the most important reason behind keeping people of every age stress-free while they were stuck between the four walls.
How did the pandemic act as a booster for the OTT entertainment industry?
The seeds of growth for OTT were sowed well in advance in every sector as the working people spend more of their time on mobile phones and laptops rather than on TV. That is why the OTT has become an engraved part of their lives. They can enjoy wherever and whenever they have time. The ease of watching the content anytime and that too on different streaming devices suits the life of a digital customer.
The market has grown steadily from a two-player market to more than 40 players currently, with an unending scope for many more. The bundling of content with data plans by the telecom companies has tremendously helped in expanding the reach and awareness of OTT platforms. So, the growth is not related to just the pandemic. There are many other reasons behind why these platforms are growing and in the future, the trend is surely going upwards. But we can surely say that the pandemic has boosted the industry to some extent.
So, this was all about the over-the-top platform and the industries’ trend, here’s a link for you to the Top 5 Important OTT Platform Features to Look for in 2021. Do read and let us know, how you like it in the comment section.