Over the last few decades, people’s viewing habits have changed dramatically. The era of television has come to an end. Cable television providers have gradually lost subscribers to OTT streaming services like Netflix, Hulu, Disney Plus, YouTube TV, etc., resulting in a dramatic shift in television viewing habits.
Interested in a slice of the OTT pie? Here are some statistics on its growth rates and other helpful metrics for you.
- According to Digiday, the United States has over 200+ over-the-top content providers.
- According to Statista, revenue in the OTT Video segment will reach $2,673 million in 2022.
- According to Adweek’s most recent report, the top five OTT platforms in terms of subscriber count are:
- Netflix
- Amazon Prime
- HBO Now
- Hulu
- Starz
- According to Statista, Disney+ Hotstar is the leading OTT provider, accounting for 29 percent of the market.
There are numerous benefits to launching an independent OTT channel. But first, let’s go over some general information to get started.
First, it’s critical to define OTT services and their role in today’s media landscape more precisely.
Without much delay, let’s begin!
So, What Exactly is an OTT Channel? Why Do You Need It?
The acronym OTT stands for Over-the-Top. It means we can stream across multiple devices whenever we want, thanks to “over-the-top.” The term “OTT” refers to a new method of delivering film and tv content over the internet without using traditional broadcast, cable, or satellite pay-TV providers. In simple terms, this refers to people paying an internet service provider for internet access so they can watch Netflix, Amazon Prime, Hulu, etc., without having to pay for cable TV.
With this, let’s move on to the reasons for building OTT Platform!
Reasons Why You Should Start Your OTT Channel
One of the main reasons OTT content is so popular is its ease of access. Customers only need a high-speed internet connection and a connected device that supports apps or browsers to stream OTT.
# Video Hosting Platforms
Users can upload and store video content on the Internet via a video hosting platform. If you intend to upload videos to your server, keep in mind that they are heavier than textual content and may not be able to handle the load. That is why businesses rely on video hosting platforms to upload high-quality videos without being held back by server lags.
# Content Distribution
You have excellent content. The stories you tell inspire those who follow you, and chances are you have a target audience out there who is passionate enough about your content to pay for it to support you. As a result, it’s time to start planning how you’ll launch your own OTT channel. and then distribute it to the expanding number of online distribution channels looking for content in the OTT industry.
# Branding and Consistency
Creators have the freedom to remain loyal to their brand because there are no censorship or outside advertising guidelines to adhere to. Instead of competing for space with platform branding, they can highlight their content in a consistent style.
# Guaranteed Security
Cyber-attacks frequently target social media and video-sharing websites. However, when using an OTT platform, creators have complete control over their security. They are less likely to expose their audience to a potential data breach.
# Monetization
An OTT platform offers a wide range of monetization options, including subscription tiers, premium content, and targeted advertising. With fewer revenue-sharing partners, more money ends up in the hands of the platform owner. Furthermore, there is no risk of content being demonetized or deleted by overzealous bots.
# Data Transparency
Data is critical to running a successful streaming business, whether for content development, marketing, sales, customer retention, monetization models, and so on. Data is frequently one of the most underutilized assets for creators planning to monetize their content and grow audiences. However, data drives everything. So, with the help of OTT platform providers, launch your OTT channel and take control of your data and content business!
It’s Your Turn Now!
Have you ever wondered how to create your own ott platform, or how to start ott platform, your answer is here!
Of course, you can build OTT services by hiring an OTT platform development company. You’ll also need to hire a few developers to keep your OTT platform’s usability and security up to date. Before you start the process of OTT development, make sure you have a clear idea of how you intend to monetize it. In addition to subscription fees, you can increase your revenue by selling ad space on your channel. Also, make sure you collect enough information about your users to deliver relevant and targeted ads.
Summing Up
With the COVID-19 outbreak and various lockdown policies around the world, over-the-top (OTT) entertainment has become one of the few remaining – but obviously-needed – sources of entertainment these days. And this reveals its recent explosive growth.
OTT solution will soon become the only way for advertisers to reach TV audiences who do not use regular TV, cable, or IPTV. Because the OTT platform is still a relatively new phenomenon, it still offers significant opportunities for media companies, content providers, and advertisers. Many companies are entering the OTT space, creating new opportunities for their customers and advertisers. So, if you’re thinking of creating OTT platform, Always prefer better solution.
