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Version #1 - With source annotations
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The Unpredicted Growth Of Ott Platform
Consumers preference for OTT content on bigger screens has led to a significant increase in the use of smart televisions (from 37% in 2018 to 51% in 2020), but this has not affected demand for mobile streaming services on smartphones and tablets. Streaming hasn't stopped with OTT platforms, but subscribers are hungry for more content. Advertisers follow viewers from traditional platforms to OTT. [Sources: 2, 5, 9]
Spending on CTV advertising is expected to reach $11.35 billion in 2021, and revenue from OTT subscriptions is forecast to reach an all-time high of $38.15 billion. As for the future, OTT will stay here, and content providers and professional broadcasters will continue to expect new technological backups to drive their business, which is a great opportunity for OTT platform providers. As consumers continue to follow media consumption, devices will continue to become increasingly important to meet these growing needs. [Sources: 0, 3]
There is no certainty about what will happen in the future, but one thing is sure: Juniper Research reports that OTT subscriptions by the end of 2025 will be two billion USD. This is worth $19.42 billion, 13.87% more than OTT's estimated value ($8.516 billion) in 2019. This growth will spur traditional broadcasters to turn to hybrid models of monetization to compete with platforms such as Netflix, Hulu, and Amazon Prime. It looks like there is still plenty of scope for the market to attract billions of potential SVOD subscribers as people's disposable incomes boom and OTT services continue to work well beyond 2021. Important OTT trends indicate that, despite the COVID 19 pandemic, the number of OTT viewers (streaming hours) in the US and around the world will increase in the coming years. [Sources: 1, 2, 9]
A study by the major OTT market monitoring organization Parks Associates suggests that the number of OTT video services has doubled in the last six years to more than 300 platforms in the third quarter to September 30, 2020 in the United States. If you need further evidence of the OTT "place" in mainstream mainstream, consider these statistics: in 2018 online streaming platforms produced the largest share of original programming for the first time in the history of traditional channels. One thing that is remarkable, and seems to have a lasting impact on the boom in OTT services, is that not only will the COVID-related increase fade and disappear, but that, in retrospect, it could lead to a five-year period of sustainable OTT growth. [Sources: 1, 6, 9]
By connecting their smart devices and subscribing to an OTT service, viewers can access content on their device of choice. Cheaper data plans and convenient access to content make OTT players an instant go-to platform for almost any type of content you need. Viewers can connect their devices to OTT services and access the content they want. [Sources: 0, 2, 5]
Complementary features such as cloud-based streaming services that support live content, video-on-demand (VOD) videos, large content repositories, zero buffering, adaptive bitrate streaming and intuitive content recognition make the OTT platform easy to use. Technology plays a central role in the dissemination of OTT video services. Features such as a large content repository, cloud-based streaming services, zero-blocking, video-on-demand and support for live content simplify the use of the platform. [Sources: 0, 5]
OTT platforms are a great way to employ people when their time is up and show how the entire industry, including content producers, professional broadcasters and OTT platform providers, can handle it. Advertising marketers are also beginning to move toward OTT platforms, abandoning traditional advertising platforms for a better landscape. In a survey conducted by BIA for a webinar that identified OTT as the Breakout Media category in 2021, 41% of respondents said they would increase ad spending on OTA platforms compared to 26% who would increase ads spending only on linear television. [Sources: 0, 2, 8]
Studies show that people who consume content on OTT platforms are more likely to switch off advertising. A comScore report for 2020 shows that the average home watched 10,2 hours of OTT content in April 2020, an increase of 1.7 hours over April 2019. Research conducted by the intuitive video management platform Imagen shows that the majority of people who subscribe to an OTT platform are different from a secluded group of 30% of consumers who do not have access to popular streaming platforms. [Sources: 5, 8, 9]
This shows a new demographic that did not exist five years ago, and is not the only one that will change as the taste of traditional broadcasters and streaming viewers for content continues to evolve along with the easy access that OTT offers. One of the biggest trends in the world of sport is the opportunity and impact on the channels and the content they have for the streaming audience, due to the growth of online games and sports. This is positive for the few in the industry who are doing well despite the various bans imposed by OTTs, as the distance isolates the audience seeking entertainment through streaming content. [Sources: 1, 6]
It is hard to exaggerate the extent to which top OTT platforms like Netflix, Amazon Prime Video, Disney + Hotstar, Zee5, Altbalaji, SonyLiv and many others make hay while the lockdown-tiny population yearns for a bright rainbow. OTT videos are doing well because many people want to stream and watch content at will. On-demand video has made streaming Starbucksy and sexy for millennials who are reportedly consuming online content on the benches of stale samosas, and after a year of unprecedented tightness, OTT revenue and turnout are rising. [Sources: 0, 7]
To improve access for OTT video viewers, organizations are building platforms to show their library of video content. Potential subscribers are considering whether or not to sign up for an OTT service, and OTT players are currently coming up with the most popular models to use OTT platforms and players. In addition to the advertising funded from moving image content and high-quality user-generated OTT video, this category also includes advertising for video-on-demand services (VOD). [Sources: 0, 4, 5]
This arrangement allows access to discovery via the Xfinity Flex OTT platform instead of the traditional X1 set-top box. Consumers used to Hollywood and other film industries high-end big-budget productions can expect similar production values from OTT content providers. The prestigious films available in India are the golden goose that can be seen in the world's fastest-growing OTT market. [Sources: 7, 9]
##### Sources #####
[0]: https://www.cincopa.com/blog/how-covid-19-is-aiding-to-ott-streaming-video-business/
[1]: https://www.viaccess-orca.com/blog/ott-services-growth
[2]: https://www.mazsystems.com/en/blog/ott-in-2025-a-promising-future
[3]: https://integralads.com/insider/unexpected-predictions-digital-advertising-trends-2021/
[4]: https://www.statista.com/outlook/amo/media/tv-video/ott-video/worldwide
[5]: https://community.nasscom.in/communities/digital-transformation/telecom-media-communities/how-covid-19-has-fueled-the-global-ott-video-business.html
[6]: https://www.v-net.tv/2019/08/21/what-does-the-future-hold-for-ott/
[7]: https://indianexpress.com/article/entertainment/opinion-entertainment/why-2020-was-a-game-changer-for-streaming-aces-like-netflix-and-amazon-prime-video-7105424/
[8]: https://digichefs.com/the-unpredicted-growth-of-ott-platform/
[9]: https://www.robosoftin.com/blog/ott-brands-trends-and-opportunities
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Version #2 - Without source annotations
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The Unpredicted Growth Of Ott Platform
Consumers preference for OTT content on bigger screens has led to a significant increase in the use of smart televisions (from 37% in 2018 to 51% in 2020), but this has not affected demand for mobile streaming services on smartphones and tablets. Streaming hasn't stopped with OTT platforms, but subscribers are hungry for more content. Advertisers follow viewers from traditional platforms to OTT.
Spending on CTV advertising is expected to reach $11.35 billion in 2021, and revenue from OTT subscriptions is forecast to reach an all-time high of $38.15 billion. As for the future, OTT will stay here, and content providers and professional broadcasters will continue to expect new technological backups to drive their business, which is a great opportunity for OTT platform providers. As consumers continue to follow media consumption, devices will continue to become increasingly important to meet these growing needs.
There is no certainty about what will happen in the future, but one thing is sure: Juniper Research reports that OTT subscriptions by the end of 2025 will be two billion USD. This is worth $19.42 billion, 13.87% more than OTT's estimated value ($8.516 billion) in 2019. This growth will spur traditional broadcasters to turn to hybrid models of monetization to compete with platforms such as Netflix, Hulu, and Amazon Prime. It looks like there is still plenty of scope for the market to attract billions of potential SVOD subscribers as people's disposable incomes boom and OTT services continue to work well beyond 2021. Important OTT trends indicate that, despite the COVID 19 pandemic, the number of OTT viewers (streaming hours) in the US and around the world will increase in the coming years.
A study by the major OTT market monitoring organization Parks Associates suggests that the number of OTT video services has doubled in the last six years to more than 300 platforms in the third quarter to September 30, 2020 in the United States. If you need further evidence of the OTT "place" in mainstream mainstream, consider these statistics: in 2018 online streaming platforms produced the largest share of original programming for the first time in the history of traditional channels. One thing that is remarkable, and seems to have a lasting impact on the boom in OTT services, is that not only will the COVID-related increase fade and disappear, but that, in retrospect, it could lead to a five-year period of sustainable OTT growth.
By connecting their smart devices and subscribing to an OTT service, viewers can access content on their device of choice. Cheaper data plans and convenient access to content make OTT players an instant go-to platform for almost any type of content you need. Viewers can connect their devices to OTT services and access the content they want.
Complementary features such as cloud-based streaming services that support live content, video-on-demand (VOD) videos, large content repositories, zero buffering, adaptive bitrate streaming and intuitive content recognition make the OTT platform easy to use. Technology plays a central role in the dissemination of OTT video services. Features such as a large content repository, cloud-based streaming services, zero-blocking, video-on-demand and support for live content simplify the use of the platform.
OTT platforms are a great way to employ people when their time is up and show how the entire industry, including content producers, professional broadcasters and OTT platform providers, can handle it. Advertising marketers are also beginning to move toward OTT platforms, abandoning traditional advertising platforms for a better landscape. In a survey conducted by BIA for a webinar that identified OTT as the Breakout Media category in 2021, 41% of respondents said they would increase ad spending on OTA platforms compared to 26% who would increase ads spending only on linear television.
Studies show that people who consume content on OTT platforms are more likely to switch off advertising. A comScore report for 2020 shows that the average home watched 10,2 hours of OTT content in April 2020, an increase of 1.7 hours over April 2019. Research conducted by the intuitive video management platform Imagen shows that the majority of people who subscribe to an OTT platform are different from a secluded group of 30% of consumers who do not have access to popular streaming platforms.
This shows a new demographic that did not exist five years ago, and is not the only one that will change as the taste of traditional broadcasters and streaming viewers for content continues to evolve along with the easy access that OTT offers. One of the biggest trends in the world of sport is the opportunity and impact on the channels and the content they have for the streaming audience, due to the growth of online games and sports. This is positive for the few in the industry who are doing well despite the various bans imposed by OTTs, as the distance isolates the audience seeking entertainment through streaming content.
It is hard to exaggerate the extent to which top OTT platforms like Netflix, Amazon Prime Video, Disney + Hotstar, Zee5, Altbalaji, SonyLiv and many others make hay while the lockdown-tiny population yearns for a bright rainbow. OTT videos are doing well because many people want to stream and watch content at will. On-demand video has made streaming Starbucksy and sexy for millennials who are reportedly consuming online content on the benches of stale samosas, and after a year of unprecedented tightness, OTT revenue and turnout are rising.
To improve access for OTT video viewers, organizations are building platforms to show their library of video content. Potential subscribers are considering whether or not to sign up for an OTT service, and OTT players are currently coming up with the most popular models to use OTT platforms and players. In addition to the advertising funded from moving image content and high-quality user-generated OTT video, this category also includes advertising for video-on-demand services (VOD).
This arrangement allows access to discovery via the Xfinity Flex OTT platform instead of the traditional X1 set-top box. Consumers used to Hollywood and other film industries high-end big-budget productions can expect similar production values from OTT content providers. The prestigious films available in India are the golden goose that can be seen in the world's fastest-growing OTT market.