Monetizing content in the OTT industry: Challenges and advantages
The OTT industry is growing year by year, and as more and more viewers are leaving traditional TV and opting for streaming platforms, the gap between the two industries will rise even more. According to a report made by Grand View Research, the global OTT market size was valued at USD 62.03 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.7% from 2021 to 2028. However, with the increasing competition and ongoing fragmentation in the streaming market, the most important question for streaming providers is how to generate revenue and also retain customers. In this article, we will explore some of the successful and proven strategies for monetizing content in the industry, but also the challenges. Subscription-based model The most common and popular way of monetizing content in the OTT industry is the subscription-based model. This model involves charging customers a fixed monthly or annual fee to access a library of content, usually with no ads or interruptions. Some of the leading examples of this model are Netflix, Amazon Prime Video, Disney+, and Max. This model has advantages such as: However, there are some challenges: Because we always strive to have the best options for our clients, we signed a partnership with Evergent, a prominent provider of subscription and partner management solutions. You can find out more about the partnership in this article. Advertising-based model The advertising-based model is another common and effective way of monetizing content in the OTT industry. This model involves offering free or low-cost access to content but with ads inserted before, during, or after the content. Some of the prominent examples are Hulu, Tubi, and Roku Channel. The advertising-based model has a few benefits: However, the advertising-based model also has some shortcomings: Transaction-based model The transaction-based model is a relatively new and emerging way of monetizing content in the OTT industry. This model involves charging customers a one-time or pay-per-view fee to access a specific piece of content, usually a movie, show, or event. Some of the notable examples of this model are Apple TV+, Google Play Movies, and ESPN+. This monetization model has several strengths: But there are limitations like: Conclusion The OTT industry is a dynamic market, but also a challenging and competitive one. To succeed in this market, streaming platforms need to adopt and adapt different strategies for monetizing content, depending on their goals, resources, and audience. By doing so, they can create a sustainable and profitable business model, while delivering a satisfying and enjoyable experience for their customers. If you need help or assistance in choosing the right monetization strategy for your business, schedule a free call today so we can explore integration possibilities with our new product Velvet.
2Coders and Evergent partner to power flexible OTT subscription experiences
“Our partnership with Evergent marks a fantastic milestone for 2Coders,” said David Santana, the co-founder of 2Coders. “By integrating its advanced monetization solutions into our strategic offering, we can unlock an array of new subscription management and revenue capabilities, enabling us to provide our clients with enriched streaming experiences that drive viewer engagement and enable business growth.”
The Video Advantage: Why Your Website Needs Multimedia Appeal
Want to make your website more attractive? Are you curious about a simple yet powerful strategy to boost interaction? The solution is simpler than you think – add videos! Videos don’t just add a unique touch; they effortlessly convey content, hitting the sweet spot for your target audience. Beyond mere entertainment, videos serve as educational tools, fostering interaction and simplifying complex information. When you design a website, you should know what videos are more beneficial for your website and how to optimally utilize your video content. Research reveals that users spend approximately 100 minutes daily watching online videos, with video content constituting 82% of internet consumer traffic by 2023. From social media to websites, videos have become integral to digital engagement. A video can showcase emotion; it strengthens the reach and increases the website’s engagement, and, more importantly, it builds trust between the audience and the organization. What videos should you consider for your website? Now, let’s answer the main question. Why you should consider including videos on your website? Ready to dive into video content for your website? Check out our Mux Video #WordPress Plugin – a freeway that simplifies video integration. Download it here and reach more and more consumers.
Advantages of Third-Party Integrations in the OTT Industry
OTT services offer many advantages for customers, such as diverse and personalized content, on-demand and live streaming options, and access to various devices, such as smart TVs, smartphones, tablets, laptops, and gaming consoles. However, OTT services also face many challenges in the highly competitive and dynamic market, such as attracting and retaining customers, generating revenue and profit, complying with laws and regulations, and ensuring quality and security. To overcome these challenges and improve customer experience, OTT providers use third-party integrations, which are the process of connecting an application programming interface (API) from one application to another, which can improve the performance and functionality of a product or service. Third-party integrations connect APIs from different applications, enabling the product to do the same or similar functions as the external application. For example, an OTT provider can integrate a payment gateway, a social media platform, a content delivery network, or an analytics tool into their service. There are many advantages of using third-party integrations in the OTT industry, such as: In conclusion, third-party integrations are a powerful strategy for OTT providers to enhance their service and customer experience, as well as to overcome the challenges and opportunities in the OTT industry. By using the right third-party applications and tools, OTT providers can gain a competitive edge and create value for their customers and stakeholders. If you want to find out more about how we, with the help of the best third-party integrations in the market, can create the perfect streaming solution for your business – schedule a free consultation today!
Podcast Sync: Streaming Solutions for Creators
Podcasting has become a powerful medium for content creators to connect with worldwide audiences. As experts in building streaming front-end apps and integrating systems for content delivery, we offer solutions tailored to enhance your podcasting experience. Drawing from our extensive experience in adapting video players to audio and vice versa, our solutions are designed to meet the diverse needs of podcasters. Adapting Video Player to Audio: A Smooth Transition One of the unique strengths of our solution lies in its ability to transition between video and audio content. This feature is born out of our experience in developing streaming solutions that cater to both visual and auditory senses. Imagine a scenario where your podcast gains traction and you create engaging video content without the hassle of migrating to a new platform. Our solution ensures a smooth conversion, maintaining the essence of your podcast while enhancing it with visual elements. Cross-Device Accessibility: Reach Your Audience Anywhere Gone are the days when your audience was confined to a specific device. We designed a solution to provide a consistent and user-friendly experience across all devices: smartphones, tablets, or desktops. Statistics show that 75% of podcast listeners use mobile devices, emphasizing the importance of a responsive and intuitive design. We can help you connect with your audience on their preferred devices, expanding your reach and engagement. Integration Made Effortless: Connect and Expand Your Reach Our expertise in system integrations ensures that your podcasting experience is not limited to a standalone platform. Whether it’s integrating analytics or social media sharing options, we’ve got you covered. With our integrated approach, your podcast becomes more than just a series of episodes; it transforms into a dynamic, engaging experience. Tailored for Podcasters, Perfected by Experts Understanding the unique needs of podcasters is at the core of our solution. Our user-friendly interface is designed for both beginners and seasoned creators, offering intuitive tools for uploading, editing, and managing episodes. We believe that simplicity should not compromise functionality. That’s why we empower podcasters with robust features while maintaining an accessible user experience. Transforming Your Podcasting Journey The streaming solutions we offer are a result of years of experience in creating accessible and integrated solutions for content creators across various industries. The transition between video and audio, combined with cross-device accessibility and intuitive integrations, makes our solution the perfect choice for podcasters who want to enhance the quality of their content. Streamlined Podcasting: Simplify, Reach, Engage Make your podcasting experience enjoyable for your listeners. Our solution simplifies transitions between audio and video, reaching your audience on any device. It’s time to level up your content. Contact us and let’s make your content universally enjoyed!
Why Personalized Content Delivery Will be One of the Most Important Things in OTT This Year
OTT media services have grown a lot because they let people watch different kinds of content online, whenever they want, and on any device. OTT platforms have content like movies, TV shows, live sports, and news, for different tastes and preferences. But with so much content, how can OTT providers make sure they show the right content to the right audience at the right time? They use personalized content delivery. This means they show different content to different segments or individuals in their target audience, based on what they do, like, want, where they are, and other factors. Personalized content delivery makes the content more relevant, enjoyable, and memorable for the viewers, and helps to keep them engaged, loyal, and happy. Personalized content delivery is not a new concept, but it has become more important and challenging in the OTT space, due to the following reasons: Personalized content delivery can bring many benefits to both the OTT providers and the viewers, such as: Personalized content delivery is not a nice-to-have feature, but a must-have necessity for OTT providers who want to succeed in the competitive and evolving OTT market. Personalized content delivery is one of the most important things in the industry this year, and it will continue to be so in the years to come. That is why we at 2Coders, strive to find a way to use every technology needed to deliver the best-suited content that users want from the streaming platform. So, If you want to follow the trend and have the best platform, feel free to contact us.
Driving Enterprise Communication: A Case Study on Our Successful Development of Vbrick’s Mobile Video App Solution
In today’s fast-paced digital landscape, enterprises increasingly rely on video content to engage their employees, customers, and partners. Recognizing the need to empower their users with on-the-go access to video content, Vbrick, a leading provider of enterprise video solutions, partnered with our team to develop a feature-rich mobile app. The goal was to extend their video content management platform and API, allowing users to access and consume video content on their smartphones. This case study highlights the successful collaboration that resulted in integration with the existing backend, providing a valuable addition to Vbrick’s end-to-end video enterprise platform. Client Background: Vbrick is renowned for its robust video content management platform, which enables organizations to securely host, manage, and distribute video content. With a goal to expand their offerings and provide a holistic solution to the customers, Vbrick sought to extend their platform’s capabilities to mobile devices. They approached our team, seeking expertise in mobile app development to create a user-friendly solution for on-demand video streaming on iOS and Android devices. Project Scope: Our team developed a mobile app with the primary objective of enabling users to search, browse, record, and upload videos on their Android or iOS devices while complementing Vbrick’s existing web platform. Our Approach and Process: For the collaboration with Vbrick, we followed a well-defined and iterative process, ensuring that we met the client’s needs effectively. The process can be summarized as follows: By following this approach, we ensured that the development process was dynamic, adaptable, and aligned with Vbrick’s expectations. It allowed us to incorporate feedback, make necessary adjustments, and deliver a mobile app that met their unique requirements. Key Features and Functionality: The Vbrick mobile app offers a range of intuitive features to enhance on-demand video streaming: Results and Impact: The development and launch of the Vbrick mobile app resulted in several significant achievements: The collaboration between Vbrick and our development team led to the successful creation of a mobile app for on-demand video streaming. By integrating with Vbrick’s existing backend, providing an intuitive user experience, and enabling convenient content contribution, the app enhanced accessibility, expanded the user base, and streamlined the video consumption process. This case study highlights the significance of leveraging mobile technology to meet the evolving needs of enterprises in the digital era.
Transforming Streaming Experiences: Our Dynamic Partnership with Bitmovin
In today’s digital landscape, delivering seamless streaming experiences is crucial for businesses. As consumer demand for high-quality video content across devices grows, partnerships play a vital role in meeting these expectations. That’s where our collaboration with Bitmovin, a leading provider of video infrastructure solutions, comes into play. Together, we’re revolutionizing how we deliver and optimize streaming experiences. With Bitmovin’s cutting-edge technologies and our shared focus on exceptional user experiences, we’re reshaping the streaming service landscape. In this article, we’ll explore the valuable partnership between our organizations and its impact on the world of streaming services. Boosting Efficiency and Performance: Bitmovin’s Player Redefines Development Experience Our partnership with Bitmovin has been a transformative experience for our development team. We were thrilled when we learned about their range of solutions. Among them was Bitmovin’s Player, which stood out as a true gem. Its robust feature set and extensive documentation make it fit perfectly within many use cases and implementation a breeze. Moreover, the exceptional communication and support from the video workflow experts at Bitmovin proved invaluable in streamlining our development process. The Bitmovin Player offers many advantages that set it apart from other players in the market. Development best practices show that clean and concise code leads to improved performance, easier maintenance, and a better streaming experience for viewers, and this is a strong point of Bitmovin’s Player. With its clear and well-structured code base, we were able to seamlessly integrate the player with minimal code requirements, which is standard for their wide range of dedicated SDKs that cover every major device type on the market, such as Web, iOS, Android, Smart TVs, Set Top Boxes, and more. This saved us valuable development time and hundreds of hours each year by utilizing Bitmovin’s Player across each device and ensuring that our streaming experience was optimized for efficiency. Unlocking User Insights and Elevating Viewer Experience Furthermore, the built-in Bitmovin Analytics integration for the Bitmovin Player empowered us by providing comprehensive insights into user behavior, content, and ad performance. By leveraging these data points, we gained a deeper understanding of our audience, their viewing patterns, and their preferences. Armed with this information, we were able to make data-driven decisions to improve our content offerings and enhance the overall user experience. User experience lies at the heart of software development, and Bitmovin’s Player delivers. Research conducted by the Nielsen Norman Group shows that a seamless and consistent user interface across platforms leads to higher user satisfaction. This is where the customization aspects of Bitmovin’s Player step in. By utilizing this powerful feature, we were able to create a unified Player interface that seamlessly deploys to multiple platforms, providing a consistent and captivating experience across any device. One of the key benefits of the Bitmovin Player is its flexibility. Our UI designers were able to make real-time modifications and customizations on the fly, ensuring that our streaming service reflected our brand identity and catered to our users’ preferences. This dynamic approach t greatly expedited the design process and allowed us to iterate and optimize our user interface to perfection. Additionally, to guarantee a better viewing experience for users, the adaptive nature of Bitmovin’s Player also plays a vital role. To ensure content is always streamed in the highest quality possible, the Player constantly monitors the available bandwidth of the user and dynamically requests the best content in the best quality available according to their connection strength. This is important as it helps maintain a consistent viewing experience and eliminates buffering. Bitmovin Partnership Sparks Innovation Our partnership with Bitmovin has been an outstanding journey of innovation and growth. We have redefined the streaming service landscape by harnessing the power of Bitmovin’s advanced streaming technologies and combining them with our unwavering commitment to exceptional user experiences. Together, we continue to pave the way for seamless streaming experiences that captivate audiences across platforms. As we look ahead, we are excited to deepen our collaboration with Bitmovin, confident that our shared expertise will keep us at the forefront of the industry, constantly exceeding the evolving demands and expectations of our users. With Bitmovin as our trusted partner, we are poised to deliver unparalleled streaming experiences that leave a lasting impression.
The Future of Advertising: Maximizing ROI with FAST Channels
During our recent visit to the NAB Show, Free ad-supported channels (FAST) were the most popular topic discussed among industry professionals. This inspired us to conduct further research and share insights on this emerging trend for advertisers. Free ad-supported channels (FAST) are becoming increasingly prevalent, and with the right knowledge, they can be a valuable opportunity for advertisers. As of 2023, there are over a thousand FAST channels available, making it essential for advertisers to understand how to effectively utilize these channels and take advantage of the opportunities they offer. What Are FAST Channels? FAST channels provide a viewing experience similar to traditional linear TV, complete with commercial breaks, and are accessible through internet-connected TVs. These channels cater to specific interests, such as news, cooking, and true crime, as well as reruns of popular broadcast shows or major events like the World Cup. The most popular FAST channels tend to be broad and are currently dominated by broadcasters like ViacomCBS, NBCU, Fox, Amazon, and Samsung. To make the most of their advertising budget, advertisers must know how to collaborate with these channels effectively. By utilizing our insights, advertisers can make informed decisions and tap into the potential of Free ad-supported channels (FAST). FAST Channels: Disrupting the Television Industry for Good? Free ad-supported channels (FAST) have disrupted the broadcast television industry, with players such as TV manufacturers, broadcast studios, and OTT subscription services searching for new revenue streams. But where do FAST channels fit into consumer viewing habits? For viewers, FAST channels complement premium content services like Netflix and Disney+. They also fill a gap left by cord-cutting, providing easy access to continuous content without the need to search for specific shows. And since FAST channels offer a familiar linear TV format, viewers find them a desirable option. Considering these factors, it appears that Free ad-supported channels (FAST) are here to stay and will continue to play a significant role in the ever-changing landscape of television consumption. Key Statistics for FAST Channel Growth Several key statistics illustrate the rapid growth of Free ad-supported channels (FAST): According to Statista, the expected revenue of linear Free ad-supported streaming TV (FAST) in the US will be 4.1 billion USD in 2023. S&P Global Market Intelligence projects that FAST channel ad revenue will reach 9 billion USD by 2026. Variety reports that there are a minimum of 1,400 FAST channels available across 22 networks. In 2022, FAST channel ad impressions increased by 18%, while viewing time grew by 10% year-over-year, as per Conviva. These statistics demonstrate the significant and continuing growth of Free ad-supported channels (FAST), making it an increasingly important platform for advertisers to consider when planning their ad spend. The audiences for FAST channels are growing rapidly, with multiple platforms attracting more viewers than traditional cable and satellite TV in the United States. Networks are fueling this growth by repurposing their idle content and earning revenue through the FAST model. As many viewers reach their limits on monthly content subscriptions, FAST channels provide a welcome way to fill content gaps. This has resulted in faster user growth and higher overall consumption rates for FAST channels, compared to paid subscription services. In short, the increasing popularity of FAST channels presents a significant opportunity for businesses and advertisers to reach new audiences. As more viewers turn to these channels, it is important to understand the unique characteristics of this emerging market and leverage them to drive engagement and revenue. Advertisers have a new opportunity to reach their target audience with the rise of FAST channels. With a collection of content related to specific niche interests, FAST presents the potential to create strong connections between brands and consumers, provided that marketers understand the interests of their target audience. Additionally, if brands have seen a decrease in reach due to cord-cutting, FAST channels provide a way to regain the demographic. Advertising on FAST Channels: Opportunities to Explore With the growth of FAST channels, advertisers have a new opportunity to reach their target audience. Many of these channels cater to specific niche interests, making it easy for marketers to connect with their audience. Additionally, brands that have seen a decrease in reach on traditional broadcast TV due to cord-cutting can use FAST channels to regain their demographic. How Does Advertising on FAST Work? Advertising on FAST platforms can be purchased through programmatic auctions, using the same tools as online advertising. The next step is contextual advertising, where relevant brands are aligned with channels and content that fit their target audience’s interests. The same advertising methods used in subscription services can also be applied in the FAST ecosystem, including dynamic overlays, split-screen ads, and brand/product insertions. Programmatic solutions drive significant revenue, allowing advertisers to target audiences with their own data. FAST Channels: A Golden Opportunity for Advertisers If you’re an advertiser, here are three reasons why you should consider advertising on FAST channels: Massive growth potential: These channels are free, unrestricted, and available 24/7, so there’s a good chance their viewership will keep expanding. High intent and attention: FAST channels offer top-quality content that caters to specific target groups, making it easier for advertisers to grab viewers’ attention. Increased personalization: FAST channel operators plan to use AI to personalize viewing guides, making it easier for advertisers to target specific audiences. FAST channels are proving to be a valuable marketing platform that can connect advertisers with their ideal audiences, both on a per-content and channel-wide basis. If you’re not exploring FAST channels yet, now’s the right time to start.
Navigating the Video Landscape: Our Highlights from NAB Show 2023
Last month, our team had the pleasure of attending the NAB Show, where we joined media and entertainment professionals from around the world to explore the latest innovations and trends in the industry. The 2023 edition of the NAB Show marked a century of this popular convention and trade show in Las Vegas. Over 1,200 exhibitors showcased their latest products and technologies at the Convention Center, and more than 65,000 people attended the event. This highlights that in-person trade shows and conferences still have relevance in this industry, and can provide valuable opportunities for networking and business development. We were among the attendees at this year’s event, and it was a busy 4-day affair. We had many conversations with industry professionals, both within the designated networking areas and at various events and happy hours. After we took a short break, we distilled our key takeaways from the show, which demonstrated yet again the thriving state of an industry that continues to grow rapidly. The $12 Billion Question: Can FAST Replace Cable TV? One major takeaway was the rise of Free, Ad-supported TV (FAST), which has been gaining a lot of attention lately. While some skeptics doubt that FAST can truly replace cable TV, the domestic revenues in the US are projected to hit $12 billion over the next three years. This trend represents a transition back to the linear distribution of video content, but with added flexibility and ease of scheduling, as well as monetization through targeted advertising. It’s important to note that while FAST is becoming increasingly popular, it will only succeed if it can work in tandem with the other business models in the OTT ecosystem, such as subscription video on demand (SVOD), transactional video on demand (TVOD), and advertising-based video on demand (AVOD). AI Takes the Spotlight at NAB: What It Means for the Industry But the major topic of conversation at NAB was artificial intelligence (AI) for sure. AI is rapidly gaining relevance in every sector, including content creation. However, using AI for content creation poses some risks, and it is essential to implement safeguards to ensure fairness and safety. Nevertheless, broadcasters are already adopting the prototypes of AI-driven tools for bandwidth optimization, image quality optimization, and text-based editing tools that analyze and transcribe content of any length. From Views to Predictions: The Role of Analytics in Optimizing OTT Strategies Another important area of focus at the NAB Show was analytics. With so much data available through OTT platforms, content providers and advertisers must be able to analyze and understand user behavior to optimize their strategies. This includes tracking engagement metrics like views, clicks, and shares, as well as using machine learning algorithms to identify patterns and make predictions about future user behavior. The risky business of traditional pay TV: why sports fans are turning to OTT Last but not least, streaming consolidation was the buzzword among big rights holders and owners, while niche sports can look at OTT and its potential to generate new revenue. Despite the promise of FAST and virtual channels delivering seamless playlists of live and on-demand assets to sports fans, it is still down to content to attract viewers to the platforms where that content lives. Premium sports content is one of the few genres still preventing viewers from cutting the cord for good, but eventually, the sports consumer’s experience will move online and away from traditional pay TV, which is perceived as a risky and expensive endeavor to undertake. Bringing the Latest in Video Technology to Our Clients Our team’s attendance at NAB Show was a valuable opportunity to gain insights into the latest trends and advancements in our industry. As specialists in OTT platforms, we were excited to see the growth and consolidation of streaming services, as well as the emergence of new technologies like AI and FAST. We’re confident that our expertise and knowledge in these areas will continue to set us apart in the industry, and we’re looking forward to bringing our clients the latest and greatest in video technology.