What is an OTT platform?
An OTT platform is an over-the-top media service offered via the internet directly to viewers. OTT platforms bypass cable, broadcast, and satellite television platforms.
It has also been used to describe no-carrier cellphones, where all communications are charged as data, avoiding one-sided domination of a platform, or apps for phones that transmit data in this manner, including online calling applications which replace other calling methods.
As we all know that the world no longer watches tv as a family, once a week together around the television. Nowadays we are all streaming content on our favorite handheld devices as much as we’re watching it on our computers and televisions whenever we want. It’s cool, and it’s shaping our need-it-now mindset and culture completely.
What’s the difference between OTT and TV?
OTT requires a subscription to a cable service to watch TV, OTT is available to stream directly on the Internet and is paid for directly by consumers. People can stream OTT content anywhere, at any time, which is a big perk over traditional TV.
Modes of Access:
The accessibility of OTT content is a major reason for its popularity. To stream OTT, Viewers only require a high-speed internet connection and a connected device that supports applications or browsers.
How OTT is Delivered?
Mobile OTT Devices: Almost every OOT service have their Applications that can be downloaded on mobile phones ( android, ios, and other operating systems).
Personal Computers: Consumers can access OTT content from desktop-based apps or web browsers.
Smart TVs: Roku, Apple TV, Firesticks, Game consoles, and many other android TVs come with the support of ott platforms.
Nowadays we all know that Netflix isn’t the only big platform out there, Disney is also booming with Disney+, Amazon Prime, and Hulu have moved to take over TV, the world is recognizing the potential of OTT, not just for the big players like Netflix and Disney.
Unlike other OTT platforms, YouTube is a social video-sharing platform that was originally designed to allow users to share moments caught on their camera. YouTube has attempted to enter the OTT market several times with a low level of success as its seen as a free video platform by people.
The benefits of OTT for streaming services and viewers
- OTT platforms can reach many people despite geographical barriers. Viewers watch most ads almost to completion on the platforms or we can say they have to watch.
- 100% viewability. Advertisements run on full screens. This eliminates small cornered ads of other media channels.
- Brands safety with ads delivered on-demand, or during live TV, viewers are reached across reliable networks and popular content.
Some popular OTT Platforms
- Netflix
- Amazon Prime Video
- Disney+
- Funimation
- Hulu
- HBO Max
- Peacock
- Crunchyroll
- Paramount+
- Apple TV+
- Tubi TV
- Crackle
Advantages of an OTT Platform:
- Reduced Cost: You get more content at less cost
- Crisp Sound and Picture Quality in provided in ott
- Instant Playback as soon as you subscribe
- Multi-Platform Service as you can stream it from many devices with one subscription
- Original Content
Disadvantages of an OTT Platform:
- Online Limitation: only people having internet connections can watch
- Poor Networks can Impact your viewing
- Online Security: other than some popular platforms, thousands of platforms are unsafe for you as you are vulnerable to losing your confidential information while paying for a subscription.
- No Censorship: online platforms don’t follow governmental policies and have no age limitations on viewers.
- Users waste too much time on OTT Platforms which should be limited.
OTT platforms of US in numbers
- The OTT market was worth $121.61 billion in 2019 and will grow to $1.039 trillion by 2027. (Allied Market Research)
- OTT revenue in the US will increase more than 100% between 2017-23, up to $48 billion (Digital TV Europe)
- There are more streaming subscriptions in the USA than there are people, with 340 million OTT contracts and only 330 million people in the country. (Ampere Analysis)
- 82% of US consumers have an ott subscription, compared to 67% of people having a pay-TV subscription in 2021. (Deloitte Insights)
- 82.5% of total streaming hours in the US are on only five apps: Netflix, YouTube, Amazon Video, Hulu, and Disney+(Comscore)
Conclusion
OTT platforms are a better entertainment source for viewers. Everything has its advantages and disadvantages. OTT platforms will give you an idea of how impactful streaming services, but age restrictions and censorship are a few concerns that need to be taken care.
