The race to OTT
By MYBRANDBOOK
The OTT market is predicted to be worth US$159 billion by 2024, according to Digital TV Research, OTT was on the tip of tongues all around the RAI. What is increasingly apparent is that OTT offerings are no longer an exceptional add-on to an operator’s main service; they are the norm – and those who lack any form of OTT product are going to fall behind in the near future.
“Consumers don’t watch TV like they used to and pay TV operators know it,” “Not only are they watching traditional TV in new ways – multiscreen, multitasking, non-linear – but they are watching OTT content at a growing rate, challenging operators with enabling both in a consistent and easy-to-use way.”
This consumer behaviour has, of course, been shaped and informed by the unprecedented growth of Netflix. With the wealth of options from the so-called ‘big five’– Netflix, Amazon Prime Video, along with the imminently arriving Disney+, Apple TV+ and HBO Max – it is no wonder that a recent study from Roku anticipates that 60 million American households will view video exclusively through streaming in the next five years.
“Right now, there is a land grab for market share. Various researchers say Netflix, Amazon, and Disney+ will make up a minority of the subscriber market share in 2023 with the bulk of the pie split between China and ‘others’,” says Brightcove product marketing manager Lexie Knauer. “The ‘others’ piece is what is at stake.
There is a rush to capture the remaining market share. There are only so many more cords left to be cut, and content distributors need to ensure they have a unique value proposition, whether that’s niche, specialised content, or a superior viewing experience. Otherwise, they won’t survive in the fragmented marketplace, risking churn and abandonment to other services.”
As far as technological partners for OTT development goes, there is no lack of options on the market, with many hawking their wares in the RAI. Each vendor offers differentiated products and provides various degrees of hand-holding, but there are undoubtedly unifying aspects across the market to serve operators’ needs.
“Good-quality E2E solutions should be both flexible and yet should also provide a quicker time to market. In a traditional E2E solution, a great deal of time is unfortunately spent customising the user-interface for deployment, which spoils the benefit of a pre-integrated solution.
While millennials are known in the industry for driving the rate of cord-cutting, generation Z – those born in the late 90s and early 2000s – are likely to be cord-nevers. It will be some time until this latter group becomes the primary purchasing generation globally, but operators must start to plan for a future where the majority have been raised on a steady viewing diet of Snapchat, Netflix and YouTube.
With that OTT market only going to get more congested and contested, time is of the essence. But instead of rushing out a half-baked product, operators need to create a solution for now that can carry them into the future.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
LAVA INTERNATIONAL LTD.
TP-LINK INDIA PVT. LTD.
ALPHAMAX TECHNOLOGIES PVT. LTD.
BEETEL TELETECH LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SUNIL VACHANI
Sunil Vachani is the Chairman of Dixon Technologies (India) Ltd. Under...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
PARTNER SPEAKERS
PSU
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
