Amazon Prime, Disney+, Hulu, Netflixthese are some of the most popular OTT platforms that have become household names. Over the past year, the media industry has been obliged to a transition. With people demanding better, customized content that is accessible for lower costs, media houses finally realized the gravity of the situation and scrambled to make OTT platforms deliver their content.
The pandemic accelerated that change and ushered in a brand-new mediathe OTT platform. Do you know that ordinary young people spend at least two hours consuming OTT content every day? Further, American households subscribe to at least three OTT platforms, on average.
Now, that brings us to the question. What is OTT, and what makes it so revolutionary? In this post, we will talk about what OTT is and the practical reasons the MSOs should consider launching an OTT platform.
If you want to know more, keep reading!
What is an OTT platform?
The acronym OTT refers to Over-the-Top, initially utilized in reference to devices going over a cable box and helping users access TV content. That method of content distribution offers content through the internet and thwarts the need for paying cable, traditional broadcast, and satellite pay-TV providers.
In short, OTT allows users to see content anytime, anywhere, on any device, as long as they have a stable and fast internet connection.
Keep in mind that OTT delivery technology places the power back in the hands of the users or consumers. Before, they were drawn down to the behest of their cable network provider, obliged to watch a limited number of shows and channels. Further, users had no control over the content being delivered, nor could they access the content on any other device but their television.
OTT delivers content over the internet, offering the freedom of choice to its end users. Today, users can pick what content they like to consume and when to consume it. They also have a selection of streaming devices to choose from. From gaming consoles and tablets to smartphones and smart TVs, OTT allows smooth access to content.
How does it differ from IPTV or cable TV?
An OTT platform enables brands to reach out to their target audiences directly over the internet without including satellite or local TV providers. OTT platforms could be grouped based on the type of content they provide as well as their monetization needs.
OTT platforms normally fall into the following groups, especially based on their content:
- online learning
- gaming
- movie or documentary
- music
- sports
- entertainment
- news
On top of that, they could be categorized on their ideal monetization needs.
Reasons the MSOs (multi-service operators) should consider launching an OTT platform
Modern monetization needs to come from advanced thinking. Thats where MSO service providers could use the OTT platform to make better value supplements for their subscribers and improve their opportunities to monetize their efforts.
MSOs have benefited from exclusivity in different situations for many years. Nonetheless, all of that is fast changing in a pay-TV scenario. This is the perfect time for cable MSOs to enjoy the current market dynamics and adopt new-age opportunities by collaborating with OTT players. This will enable them to stay competitive and offer a one-of-a-kind value proposition to their customers.
This type of approach can also offer OTT platforms distinct access to the big subscriber base of the cable operator, improved handling of their BSS and OSS expertise, not to mention unique monetization opportunities that could come for both parties.
In this case, MSOs could embrace a distribution strategy of OTT services through the following:
- enhancing broadband speeds
- use OTT device platforms
- add OTT applications to their customers service
Thus, it will position itself as a broadband-centric service provider. Furthermore, that strategy could become a good spot as it can allow cable MSOs to cash on the continuous content revolution while using their existing network infrastructure.
Here are further reasons MSOs should consider integrating OTT platforms in their business strategy:
Scalability
A cloud-based OTT solution could be scaled across different geographies quickly. That improves audience reach and revenue opportunities.
Better engagement with your consumers
Through an OTT platform, you can immediately reach out to your audiences. That creates an open-ended communication channel where ratings, reviews, and feedback can be gathered instantly. That also offers OTT platforms access to an unparalleled amount of user data, allowing them to offer more personalized advertisements and services.
Better control
One of the important reasons for having OTT for MSOs is the amount of control that the brand can have over each aspect of its content distribution strategy. From user experience and content type to quality, data, monetization, and audience, MSOs can simplify every aspect based on their needs.
Lowered delivery times and costs
Did you know that launching an OTT platform through a white-label solution is quick, reasonable, and reliable? It also takes no more than a whole day to make and launch an OTT platform these days.
Monetization
An OTT platform offers MSOs the freedom to pick their own monetization models. Be it subscription-based or advertising-based. Companies could finetune their revenue strategies to maximize their profits.
As you can guess, OTT is the future. It has already taken the world by storm thanks to its unique benefits over traditional technologies. However, creating an OTT platform from scratch could be a little bit challenging. Thats why it is essential to choose a dependable OTT provider to help you get started.
It will help if you choose a provider that is end-to-end, affordable, and scalable as well that is bundled with excellent user experience, 24/7 support, a dynamic user interface, and a highly secure platform.
We hope you find this post informative and useful at the same time. Are you an MSO considering using an OTT platform? The advantages are extremely apparent. Theres no time to waste. Consider launching your OTT platform today!