It goes without saying that most of us, in some form or the other, have experienced a paradigm shift in our business operations over the past year and a half owing to the pandemic. Whether it is in terms of delivering products & services directly to customers or in terms of partnerships with other existing business enterprises, the usual cyclical way of business has undergone change. When we look at OTT through the same lens, we will notice that the OTT ecosphere has also undergone a tectonic shift of sorts. With people made to stay home, every form of digital communication has raked up interest in large numbers. Here we will look at how in the post-pandemic era, the video streaming industry can enter into integrated partnerships with other enterprises for a mutual benefit.
In 2020 alone, OTT platforms scooped in an overall 30% increase in viewerships. Monetarily, that translates to a market share of over $160 billion dollars (Source) This makes it pretty evident that OTT streaming is the people’s new favourite and this infatuation might not end anytime soon. Furthermore, Statista confirmed that OTT viewers are more receptive to advertisements than traditional TV viewers. But that’s just the advertising side of things. Another noteworthy area that the video streaming industry needs to be given its due credit for is the area of technological innovation. From content syndication, automation, cloud solutions and more, OTT tech is not only highly advanced but it can be used in many different spheres as well. This is also where businesses can reap the underlying benefits of OTT.
On-demand streaming channels have become a hot favourite for brands ever since OTT disrupted primetime television. Brand businesses can take the help of a tech expert such as Enveu to draft digital marketing strategies based on the audience demographic to garner maximum engagement and opportunities. Furthermore, a consumer driven brand should have its own OTT application. This medium helps deliver personalized content unlike any traditional method. Technological factors such as artificial intelligence, machine learning, analytics and cloud make this option far more efficient, cost friendly and error-free.
OTT models allow for content syndication which can take your content marketing performance to newer heights. It allows for OTT providers to reach hyper-targeted consumers and meet the continuously rising content streaming demands. Another huge area that OTT leverages itself on is cloud based solutions primarily to deflect piracy concerns. Businesses can harness this opportunity to deploy robust security measures to prevent their own data breaches and ensure safe practices. There’s the API (Application Programming Interface) value that OTT offers as well. API essentially offers a direct route to agility and innovation. An API integration allows for high quality streaming and customized content scalable across multiple devices with complete security and mobility.
In summary, video streaming has been able to converge entertainment and technology in a one-stop-platform. The power of back-end analytical data has created the possibility to dissect such a diverse viewership across every video streaming service and help businesses reach the audiences they want. Therefore, with such enhanced technological tools available at our disposal, now is the right time for businesses to tap into the OTT opportunities, integrate their plans and serve their visions in a much grander fashion.
Need guidance on which areas of the video streaming spectrum are you looking to benefit from? Get in touch with Enveu for a complete plan!