Cord-cutting was at an all-time high in 2020 with over six million subscribers in the USA opting to end their tryst with traditional television, according to a study by eMarketer. In fact, by the end of 2024, this trend will only grow with a total of 46.6 million people expected to cut the cord.
But that didn’t mean that the number of people watching video content was reducing. Traditional TV’s loss has been the gain of streaming services, as OTT subscriptions in the USA are reported to grow by 20% to cross 270 million users over the next five years.
So, if you’re from a media house and reading this, it’s not all doom and gloom if you’re in the content industry. On the contrary, the OTT industry offers you a more than able replacement for your television channel.
Yes, the way one runs an OTT app is completely different to a television channel, thanks to the technology involved. Many do believe it’s cumbersome to create an OTT app for your content, but that’s where partners like Enveu come in, which provide SaaS that can power your company.
Why pick a SaaS partner?
One doesn’t need the investment of creating a separate technology team that runs your offerings. Not only does this mean you’re being more cost-effective, but you’re also reducing the time and effort required to assemble a tech team.
Having a SaaS partner for your OTT app also helps you gear up for the future as the longer you operate your OTT offering, there’s more scope for expansion in the future. What has started as a one genre and one language offering could be scaled up to offer a lot more in the future.
Another reason for opting for the likes of Enveu to run your offering is that it helps you be platform ready. OTT apps are not designed only for consumption on smartphones or connected TVs.
Depending on the time of the day and where the viewer is, there’s a high chance of the consumption happening on a laptop, or via a mobile phone or a device such as the Amazon Firestick, Sony Playstation, etc. To get the attention of the user, one needs to be available to the viewer where he/she is, and hence you need to have a SaaS partner who can help you have your content available via an app for each of these devices.
Sounds interesting and you’re ready to have conversations about kick starting your journey into the lucrative world of OTT?