What’s an OTT service and what is it for?
If you know about audio-visual content and television broadcasting, you are probably aware of what an OTT service is. However, if that’s not the case and you think that it could help your business, we will explain everything you need to know about this market on the rise.
OTT stands for “Over-the-top”, which refers to apps that deliver audio-visual content on the Internet instead of using traditional systems such as cable, terrestrial and satellite television.
An OTT app allows all content providers to instantly stream videos to their clients using any kind of web-enabled devices, such as tablets, smartphones and televisions. The interesting part here is that the Internet service provider doesn’t have any influence or control over them.
As we live in an active and networked society, it’s no surprise that TV clients are changing their consumption habits and choosing other alternatives that allow them to watch content whenever and wherever they want and through multiple devices of their choice. It’s simple, they just need to download the app of the corresponding OTT provider and have a good internet connection.
That’s why any company that aims at streaming content and be successful at it needs to offer this kind of service to its clients. OTT apps are the best choice due to its simplicity and versatility, both for the operator and for the user.
If you add an OTT app to the list of products and services your brand offers, your business will grow thanks to consumer engagement, loyalty levels and reduced exit rate. In addition, it will allow you to expand your client base since you will be offering a service that can be accessed anywhere in the world due to its internet transmission. Sports, movies, series, video game live streaming, on-demand videos… users take total control of their televisions and can personalize its reception and adapt it to their liking.
According to Statista, a company specialized in market and consumer data, it’s expected that income through OTT services will reach 167 million US dollars in 2025, more than twice as much as the 83.3 millions raised in 2019.Statista
In January 2018, 84% of users in the United States and 95% of users in Turkey and Saudi Arabia were already watching their daily audiovisual content of interest on their personal devices. This drastic change in the way users consume content stimulates growth in the OTT market.
The development of OTT apps for mobile devices and television sets can help you grow your list of clients and increase your income in the short term by up to 31%. By investing in your own OTT app, you will get to see first-hand all the benefits of this new trend.