The future of OTT services is evolving with the time. It has been a long journey, but it’s finally at a point where many people are starting to take notice. This blog post will discuss how this service came about and its popularity as well as growth statistics among users and advertisers alike. We’ll also talk about what you can expect from the future of OTT in 2022 and beyond.
A Brief History
OTT services have been around for several years now with popular examples being SlingTV and Hulu live TV. These OTT services let you watch your favorite shows wherever and whenever you want on whatever device you feel like using at the time (laptop, tablet, smartphone). You can also add OTT TV channels to your streaming device if you have one.
In 2009, the first iPhone was released and analog TV’s switched over to digital. This became a reality for many people around the world. As a result, it set off an arms race between media companies in delivering content. In addition, it created new opportunities as well because with high-speed internet becoming more prevalent across communities. It was then that OTT providers emerged without any network limitations. They could provide viewers what they wanted, and whenever it suited them best–even on their mobile devices.
With OTT, you can literally have an endless library of content that your audience will be able to watch at any time. Therefore, you’re not confined by a certain timeslot or miss out on anything.
Growing Popularity of OTT
OTT services are becoming more popular as people look for ways to watch their favorite shows. This is especially true among younger audiences who have grown up on the internet and don’t want to pay hefty cable bills every month. OTT TV has become very popular in recent years because of its convenience, quality, speed, ease of use etc.. And now that more people are aware of this service, its popularity is only going to grow.
One of the biggest OTT services out there is Netflix. As of 2021, Netflix has over 214 million subscribers worldwide (74 million in the US alone). However, its growth hasn’t been as explosive as some people expected it would be back when it first debuted (it took several years for it to start gaining momentum).
The Cord-Cutters
It’s no secret that people are cutting the cord. In fact, more Americans have been going “cord-shaving” as they call it. This means streaming video instead of paying for traditional cable or satellite TV services. However, what about those who still want access to live broadcasts? For them there is an option. You can subscribe directly from networks such as ABC with their Watch Now service. Therefore, allowing customers across all devices including smartphones tablets and computers to view their live programming.
Many consumers fall somewhere between these two ends. As a result, opting either solely for linear television viewing (known colloquially around my house) on one side. Or, having both types.
The Advertisers
OTT advertising is the wave of the future. Marketers will be more likely to reach a targeted, niche audience with it than through traditional forms of ads. Also with OTT, you can spend less money and get better results. This is because advertisers only have their ad shown when viewers are most likely interested in what they’re selling.
OTT advertising is already big business. However, with some analysts predicting that OTT services will surpass traditional cable television by 2022, you can expect the demand to explode very soon.
The growth of local OTT advertising is something advertisers are finding increasingly attractive. This new, pinpointed strategy for targeting customers based on geographic location enables the ads to be far more effective. Therefore, in comparison to those managed by linear TV channels alone. With performance-based pricing schemes being offered at an unbeatable rate over these platforms, it’s not hard see why marketers would want in.
A Look Into The Future of OTT
In the future of OTT, there will be even greater competition between providers. With so many options available, providers will have a difficult time keeping customers. Therefore, they will need to optimize user experience with simplicity in mind. With OTT platforms, developers will have to ensure users enjoy their experience and watch content without problems.
AI is also the future of entertainment. AI-powered OTT platforms are able to detect what kind of screen size and internet speed that you have. Therefore, they can optimize video quality for smaller screens while not having any buffering issues when streaming at higher speeds.
As OTT video becomes more popular, the world of entertainment is changing. If you’re in this industry and want to stay ahead of trends then it’s time for production excellence. Therefore, creating an unbeatable experience that will amaze audiences everywhere!
Conclusion
In conclusion, we’ve seen an increase in the number of people cutting cords over the past year. And, it could mean big changes for both traditional TV broadcasting as well digital signals. However, with so many companies vying to break into this market, now’s not time to rest on our laurels! Brands must stay ahead by embracing innovations like skinny bundles or video-on-demand instead. In addition, users will demand these features whether we offer them ourselves (like Netflix). Otherwise, through partnerships such brands currently enjoy today such as advertising inserts during shows.
