Over-the-top (OTT) video streaming services are revolutionizing the entertainment industry. This post explores the key trends shaping the future of OTT platforms and what it takes to succeed in this digital marketplace.
Always On, Always Connected
The proliferation of smartphones and reliable internet access has enabled an “always on” mindset among consumers. People expect to be able to watch their favorite shows and movies anytime, anywhere. For example, India now has over 650 million internet users, presenting a massive addressable market for OTT providers.
Even in more mature streaming markets like the United States, OTT continues to steadily gain market share through new subscriber growth and revenue. The cloud-based nature of these services allows for easy scalability to reach new geographic regions and support growing user bases.
Embracing Innovation
OTT has unlocked new possibilities for how content is created, distributed and consumed. Production companies no longer have to pitch cable networks to get their content in front of audiences. Creators have more opportunities to experiment with episodic and short form content tailored to digital viewing habits.
Data and analytics give streaming services incredible insights into what content resonates with their subscribers. This allows them to fine tune their content acquisition and original programming strategies. For consumers, the benefit is more personalized recommendations and viewing experiences.
The Content Gold Rush
As more media enterprises launch streaming services, the fight for premium content continues to intensify. Licensing popular older TV shows and movies remains incredibly expensive. Major studios are also keeping their tentpole film releases to use as exclusives for their own platforms.
This puts the pressure on OTT providers to invest in high-quality original programming and create must-see content that drives new subscriptions. The streaming platform with the best mix of content will attract the most subscribers.
Built for the Future
India’s OTT market is projected to reach $5 billion by 2023. Globally, analysts predict there could be over 1 billion streaming video subscribers by 2025. This tremendous opportunity is drawing tech giants and media titans to compete in the space.
To stand out in this crowded field, new entrants need to build a flexible tech stack that takes advantage of cloud infrastructure and modern development practices. Partnering with experienced streaming development firms can help launch and iterate your platform quickly and cost-effectively.
The future of television is OTT. With smart technology choices and winning content strategies, there’s still time for new players to stake their claim in this booming market. The living room screen remains incredibly valuable real estate - will your streaming service be what captures the next generation of viewers?