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Future and Growth of OTT Platforms

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Over the top (OTT) have become a trendsetter  in recent times by bringing the UHD quality streaming videos into the play, making them accessible from home. You can stream your favorite web series, movies of Action, Drama, RomCom, Horror, Sci-Fi, Thriller genre with a single tap on your smart devices. 

Gone are the days where people spend hours in front of TVs and theaters to watch a movie or favorite show. Everything is changing now! People are habituated to smartphones and high-speed internet. The mobile internet packages have led people to crave for video content at an alarming rate. Moreover, with the onset of COVID-19, the film industry had expected to perform poorly due to the lockdown restrictions. Movie theaters have shut down; film producers and distributors had faced a huge loss in the lockdown period. 

The world’s leading entertainment market is utterly in a dilemma. Besides, there is a demand for OTT platforms and is increasing at a fast rate. A survey reveals that the OTT platform (digital rights and video streaming) holds the major share as it had generated 106 billion USD in 2020 and will bubble up to 210 billion USD by 2026. 

What is an OTT? Over the top platforms are web-based audio and video streaming content allows you to pay for the subscription plans. You do not have to be involved in fighting with siblings for remote control to change the channels, deal with the cable operators, and broadcasting mediums. 

With an urge to on-demand entertainment and affordability, people are subscribing to more channels. The higher the network speed, the better video content will be. It has flexible options to customize the audio and video quality (say 480p, 720p, 1080, 1440p) depending upon your choice of interest. The premium subscription plan allows the users to view the digital content in a maximum of 5-devices, be it a smartphone (Android, iPhone), tablet, laptop, and desktop.  

The OTT subscriptions are available within the budget and can be accessed round the clock globally. Some of the best OTT platforms for binge watch your favorite web series are Netflix, Amazon Prime, etc. where you get access to HD content without any ads and distortions. They offer movies, TV shows, live events, and web series in multiple languages.

Hundreds of online streaming platforms emerged during the pandemic in the global market. “Which is the best OTT platform?” is the most searched query in the entertainment category. However, they come up with unique concepts and fresh content to attract the international audience. Some of the OTT Apps even offer free subscriptions for a trial period of 7-days or a month as a promotional strategy and to lure the audience.   

OTT services allow its users to schedule viewing and download options in case of network connectivity issues. They do not provide content for adults; but also for kids, teens, and elders too. 

Like 2-sided coins, OTT streaming services do have certain drawbacks. The biggest vulnerability is the security factor. Cybercrime might happen when you login to the application with credentials (Email, Phone Number, and Password), your bank details get shared with unknown sources, keeping your confidential information in threat. 

There is no age limitation for viewing the adult content and may greatly influence the kids and teenagers quickly. The plenty of web series, live shows, movies released every week and spending more time will surely impact your personal and professional life. You will also experience insomnia, irregular eating habits, and a lack of social interaction. Hence, it is also important for an individual to figure out the hours spent on digital platforms and bring a work-life balance. 

Final Thoughts 

Change in consumer lifestyle and access to multiple devices enabled all age groups to view the desired content in their way. In the absence of censor boards for digital media content, creativity has taken its presence, hence the viewership. However, in the future, Artificial intelligence (AI) and Machine Learning will play a prominent role in automating the streaming of videos and disclosures. The next decade would probably be full of quality content, advanced technology, analytics, and other user-friendly features.

What do you think about the future OTT industry compared to movie theaters? Does it really provide fresh and ever-lasting content with advanced technologies? Which OTT platform do you prefer for streaming videos? Drop down your queries and comments below.