Since the invention of the internet in 1983, it has grown to something that now plays a part in almost everyone’s lives. In the last few years, this has included a boom in internet streaming services, otherwise known as Over the Top (OTT) services. These are now providing video content to millions of people every day, but what do you really know about OTT?
What Uses OTT?
If you think of your favorite streaming services such as Netflix or Hulu, then these are exactly the ones taking advantage of OTT.
It allows companies to play movies and TV shows over the internet to its customers who either subscribe or watch a free version paid for by advertising.
OTT Services Have Grown Exponentially
With millions of viewers and now a multitude of streaming services now available, OTT services are growing every day.
In 2021, Netflix got the biggest share of viewing hours with 34.4%, followed by YouTube with 27%.
Services such as these have changed the way people are consuming TV and videos. The traditional TV networks have been seeing declining viewing figures for some time. Some of them have also started their own streaming services to try and capitalize on the trend.
If your business wants to get in on this trend, then there are OTT services by Finecast and other providers that can get your content to your customers.
An internet Connection is Key
Because you are dealing with services that use the internet to send content, a basic requirement is an internet connection, both for you and your customers.
However, it isn’t simply about having an internet connection, it is also reliant on the speed of that connection.
Customers that want to enjoy buffering-free internet videos need to have at least 25mps.
There is Space For Everyone
OTT services are carrying content from a number of providers. Each provider is showing their own type of content and movies.
Although you might think that customers would only subscribe to one service, the reality is different.
Many customers subscribe to more than one OTT service and sometimes as many as 3 or 4. This means that your company has no reason to think that customers won’t consider joining your OTT service.
No Need for Advertising
One reason many people subscribe to services such as Netflix is that they don’t run commercials. However, if you want to create an OTT service that does have ads, then they are also popular.
YouTube offers both subscriber and ad-based versions on its platform. This means that those who don’t want to subscribe can watch ads instead.
Various Ways to Access OTT Services
In 2020, more than 45% of households in the US had access to streaming services. These services can be accessed in a variety of ways.
Some have a Smart TV with built-in functionality, while others have dongles that plug into the TV.
This means there are various ways a company could introduce OTT services to people without any additional equipment.
Conclusion
OTT streaming services are here to stay it seems and there are no signs that it is going to slow down. This is the perfect time to consider this type of content sharing for your company.
