The Covid-19 pandemic has forced many companies to adopt remote working, a method that could change work patterns, being relevant for the future post-COVID-19 environment. Since there is no access to theatres or malls and other entertainment options, those at home are turning to OTT (Over-The-Top) sites to get their everyday entertainment consumption. People are searching for new ways to entertain themselves during the lockdown. the huge increase in searches for movies to stream during coronavirus’ lends additional importance to the claims.
What do you mean by OTT Platforms?
OTT is not just an experiment or an internet-savvy geek’s dream. Nowadays, T.V. is accessible via the internet, with new and innovative media firms entering the race to be market leaders. Netflix is around for quite a long time, and you could believe that its market share is unshakeable. It’s not the time for new companies to begin to establish their market. The success has been the case with Disney+ launched only last year, but it has managed to surpass 28 million users already. OTT also allows accessibility to live streams. It works in the same way as channels on T.V. that are normally available; however, the content streams via an Internet connection to the viewers’ OTT devices or set-top boxes.
What are the possibilities of OTT?
The revenues earned by “over the top” (OTT) media are projected to be 158.84 billion dollars in 2024. This is nearly double the 67.8 billion that was generated in the year 2018. Overall, OTT has grown massively in the past eight years. Revenue growth has been exponential, from 6.1 billion U.S. dollars in 2010 to more than ten times that amount in 2018.
What are white-label OTT solutions are available?
The most well-known white-label OTT platforms are Screen VOD. This allows you to add white label customized apps for your video content easily viewed through Android, iOS and Apple TV. Native apps include your company’s colours, branding appearance and design that were launched, maintained and updated through the marketplaces for apps (including Google Play and Apple Store and is included in Screen VOD).In 2020, over 70 per cent of U.S. broadband-connected households have at the very least one streaming entertainment item, and half own an electronic T.V.
A competitive market
The OTT market in the U.S. is becoming fiercer as more and more businesses enter the market. However, we are witnessing an increasing consolidation in the market.The recent introduction of Disney+ and Apple TV+ has caused a bit of controversy in the OTT market, putting pressure on traditional pay-tv providers and the incumbent VOD platforms, such as Netflix.
