Top 5 OTT Startups Revolutionizing Media and Entertainment
By Media Entertainment Tech Outlook | Friday, September 20, 2019
A fresh wave of OTT startups has been revolutionizing the M&E industry focusing on creativity, and innovation to stay relevant.
FREMONT, CA: A recent study by TechNavio revealed that the company collects, on average, 12 percent market share in developed countries like the US, the 2nd largest Over-The-Top (OTT) operator. Technology is innovating and progressing continually. Television, for example, has been at the forefront of this continuous digital disruption. Channel owners, broadcasters, distributors, and other media companies around the world have always shown significant interest in the television industry. Apart from the conventional OTT players in the business, significant broadcasters have invested and launched their own OTT platforms. The main obstacle to the OTT market is the average price for cable and satellite subscriptions, which restricts subscription revenues for OTT professionals. Several streaming startups are revolutionizing the media and entertainment sector.
OTT subscription service, fuboTV streams the live telecast of sporting events from premium channels. The company is the fastest-growing startup that is rejuvenating live television for sports enthusiasts. fuboTV has raised a total of $151.3 million as funding. fuboTV is the leading sports-first TV streaming service in the US, established initially as a soccer streaming service, growing to over 100,000 paying subscribers.
Philo offers streaming service nationwide, that is entertainment-focused, created to provide better TV experience. The company started as a workroom for creating a next-generation TV platform. Philo has raised a total of $83.2 million as funds. Philo offers a combination of top-rated TV channels at highly affordable prices. It provides services like watching live shows and saving endless shows to watch later. It browses an extensive library of content available on-demand.
Tubi is the world’s biggest ad-supported Video on Demand (VOD) service, available on connected TV mobile, devices, and the web. The service provides fans with films and television programs in a streamlined way to discover innovative content which is available for free. Tubi has raised a total of $26 million as funds. Tubi helps augment brand messages in front of the spectators who matter most, as they stream what they enjoy. The company values creative thinkers, influencers, self-motivators, and those who want to be appreciated for their contributions.
Xumo delivers OTT) and VOD content straight to consumers through smart TV, mobile, and desktop apps. XUMO brings viewers a premium digital and broadcast content through applications that are entirely equipped with content suggestions, shows, and compelling ad insertion abilities. Leveraging advancing technologies, Xumo offers various ways to reach and engage with customers within the home. XUMO has $10 million as the estimated revenue annually.
• MAZ Systems
MAZ Systems is at the forefront of OTT and mobile technology with a series of powerful Content Management System (CMS) and app creation tools that power multiple mobile and television applications. The company empowers content creators to be amazing, creative, and innovative. MAZ is bringing businesses of all sizes to realize this mission on every significant media platform. The MAZ platform covers mobile and TV streaming apps to news streaming apps and gaming consoles. MAZ Systems has raised a total of $4 million as funds.
The digital transformation of the media and entertainment industry has given emergence to a range of OTT streaming services to rival the conventional pay-TV substations. The number of professionals in the worldwide OTT streaming market is rising unwaveringly. In this era of communication and technology, the customers have become more informed about the amount they pay and the service they receive. OTT providers are benefiting by innovating the existing platforms, while also developing unique and better platforms to share and create. Focusing on the importance of direct-to-consumer access, monetizing the created content becomes easier. Cable service providers have realized that they need to upgrade themselves to the latest technology with OTT hitting the US market massively.