By : Kirtika
The unprecedented outbreak of the COVID pandemic has brought a radical change in certain industries globally. One such points out to be the OTT industry. Over-the-top services were planning to keep their pace and seize the market with the latest advancement of technology all around. Meanwhile, the sudden impact of nationwide lockdown has accelerated the OTT growth completely with the easy adaptability of human beings.
Recent reports favored the market trends of 2020 that fueled the OTT industry includes; the increasing penetration of smartphones and digital platforms, easy access to high-speed internet connectivity, adopting online streaming services caused by the tremendous shift in consumption patterns. There has been a 60% rise in content consumption since the lockdown, and that’s mainly because the audience has shifted towards what’s available and accessible online. All these caused online platforms like Netflix, Amazon Prime Video, Hulu, Disney+, HBO+ to showcase a lot more variety in content, languages, genres, and many more segments. In its business model as well, most of the platforms offered a SVOD model, based on affordable packaged subscription models. But the AVOD models are going to trend soon, generating more revenue. Maintaining a competitive edge in the industry, the OTT platforms will break-even way more by utilizing artificial intelligence (AI) to enhance the customer experience.
Read our deep dive into the OTT platform industry, where it started, and where it’s going. This report highlights –
- Who are the Major Players?
- Players to look out for
- What is driving the industry growth and growth markers to look for?
- How mainstream media is going the streaming way and what is the future of traditional media
- And more….
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