#8 Reasons Why OTT Players will Rule the Connected TV Market
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
TV market has evolved over the period of time ranging from the limited options of one TV channel with the limited show to genre-specific channels available today. OTT adding internet focused content to the equation is changing the game. OTT players are mushrooming across the world and gaining not just consumers’ acceptance but also gaining popularity among the patrons. It shows that it is here to rule for long.
We are now at digitalization from the traditional era. Each section of the industry including TV, print, film, radio etc. is impacted by digitization. Everything is undergoing the digital transformation. OTT is an apt transformation of the TV industry and adding more internet-only content.
#1 Adequate Infrastructure To Facilitate The Service
With the recent upsurge of the internet speed, the OTT space seems to grow manifolds. There is a behavioral shift among the patrons when it comes to the content selection. It has been observed that patrons are consuming web-based OTT content at large scale and It has been increasing at a great pace. Consumers are swamped with the varied data packs from service providers which indeed is boosting OTT market. Consumers are quite aware of their choices available and but still want the OTT services free of subscription fee
#2 Evolution Is The Need Of The Hour
Every successful thing is evolved some or the other way. Similarly, OTT is the evolution in the content consummation and engagement industry. Brands, services, startups etc are required to adopt the new technology, new ways to be able to survive and sustain their existence in this cutthroat business ecosystem. OTT adaption is whopping every month and covering the larger audience. It’s all due to the need of understanding the consumers’ mindset who always ask something different and want value for time more than money
#3 Collaboration of OTT Players with Pay TV
OTT players and Pay TV have been collaborating for long, but collaboration with individual creators is changing the game, to cater consumers with the best option by offering the best deal. As they say when the winter comes and wind blows, a wolf dies but the pack survives. With it, the consumers will get the best choice on their platter to cherry pick from. OTT is making this a reality
#4 OTT Players Offering Different Categories
There are plenty of OTT players emerging from across the globe branching out different categories (Sports, kids, entertainment etc.) to their respective target audience. The number of users is proliferating. It is carving the niche in this space with creating a lot of opportunities and introducing new categories like prank, just for fun as large new segments
#5 From TV In Your Pocket To Now Content Of My Choice In My Pocket
With the increase in smartphone penetration, OTT content has left no stone unturned to capture the video consummation market. With its high demand, it is growing exponentially
#6 The New Wave Is Coming
Content engagement through ChatBot which will be extremely conversational and personalized is coming. Instead of going to a destination the content will be going to where the conversation is happening like Messengers
#7 Stay Relevant And Contextual
Content or advertisement both needs to be contextual and relevant, if not the engagement which is the new matrix can't be achieved. Identifying the right time and the exact need and servicing the same is the key to success. Using AI and prediction is the new algorithm. Giving few but relevant choices is the new hero
#8 Know Your Audience
It is now possible to know your audience and service they need, every individual has a different persona and connecting to that is the future