Latest Trends in the OTT Platform
By Media Entertainment Tech Outlook | Wednesday, July 08, 2020
OTT streaming services are attracting 71 percent of internet users, which means that it is urgent to focus on integrated video platforms for distributing and monetizing curated and original content.
FREMONT, CA: According to a study, people retain traditional screens to stream their favourite live sports, events, and news. But with telecom services are rolling out 5G internet plans, video OTT platforms possess the bandwidth to deliver UHD streaming for these niches too. The global trends are pointing in the same direction. Although companies are keen on embracing 5G, the immediate task before the policymakers is to be sure that the telecom infrastructure and related technologies support its different demography, economic conditions, and shifting market trends.
The global OTT revenues are predicted to touch $129 billion by 2023. Although SVOD is the general streaming services trend, it is building up to a saturation point resulting to a new phase in the Internet lexicon – Subscription Fatigue. Many people have finite entertainment budgets, and SVOD services are easy to cancel. All of these factors make it more prone to churn. The OTT viewing trends are more favorable to advertisements than TV viewers. The OTT platforms themselves enable the advertisers to better target their ads to specific demographics or kinds of consumers who are most likely to be interested in their products or services.
AR and VR were first introduced in gaming and entertainment. But according to research, the development of enterprise extended reality (ER) solutions is growing fast. 65 percent of the companies that were surveyed said they are working on industrial applications.
The OTT landscape is going to be in a churn with the advent of 5G internet and the vistas. While sustainability and margins are the proverbial are critical, innovative services are pushing media and entertainment trends favoring the OTT streaming platforms.
Even though multiple services are available in the market, the video streaming market still can absorb viewership.