Essential Steps That Forge OTT Platform In Days Ahead
While we walk past a decade, there have been a number of innovations and advancements in the technology domain that changed the course of human interactions in daily life. The huge internet proliferation, smartphone ubiquity and content generation evolved as a key factor for the ease of communication. All such developments have also taken a hold of the tiller that drives the mode of content consumption among people. Now people prefer to watch TV shows, TV series, and movies through streaming platforms.
Though the streaming revolution has been around for more than a decade, it was in the second half of the last decade that witnessed substantial increase in the people who purchased such streaming
platforms. Not only quality and content of the video, but the internet proliferation and advancements in smartphones have also played a huge role in attracting the early and late majority of adopters to choose video streaming platforms such as Netflix, Amazon Prime, and Hotstar. Such OTT (Over-the-top) streaming platforms are exploiting further opportunities that could attract more eyes to their online content.
The media landscape comprising video content is continuing to reshape with the providers of OTT platforms and mobile network operators (MNOs) to decode the behavioural patterns of the consumers for providing best user experience. The hybrid monetization models of OTT platforms is one of the primary emerging trends that OTT platforms are working on. Apart from the SVOD, AVOD, and TVOD monetization models at present, video streaming platforms have started experimenting with hybrid monetization model after seeing the willingness exhibited by users to pay for premium content. YouTube can be counted as a fine example, as the video content provider now delivers TVOD services as well by tagging a fee for premium services.
Since there is a huge competition among the OTT video streaming platforms, there is a chance that lead to content fragmentation. As per the recent update, players like Apple, Disney, and WarnerMedia have set out plans to shape their own streaming platforms. This could make the video streaming landscape more complex to identify and choose, since users’ favourites become scattered across multiple sites. It is imperative for OTT platforms and networks to agree on alliances and partnerships since consumers are the key people in any business. It is therefore necessary to observe the streaming platforms on how they align their business and synchronize with the trends in technology to serve for the maturing market.