Is OTT the future? 8 Over-The-Top Trends to Watch for in Streaming
The OTT industry is blooming. With its worth of $121.61 billion in 2019, the OTT market is expected to grow to $1.039 trillion by 2027. (source Uscreen) Before we jump into the OTT Video streaming trends for 2022 and beyond, let’s define what we mean when we say OTT and why is OTT relevant today? What does OTT mean? Over-The-Top (OTT) is the process of streaming media content to viewers and customers directly over the internet (on the web), without paying for cable TV. It’s the modern way to access media content like movies, TV shows, series, sports, music, etc, across different devices, whenever we want! Streaming the content “over-the-top” (across different devices) is the new delivery method for providing film and TV content over the internet without the need for traditional broadcast, cable, or satellite pay-TV providers. And people love it! Viewers can access their favorite programs and movies through an app or a website straight from their fave tech gadgets: smartphones, tablets, laptops, smart TVs, gaming consoles, computers, and such, whenever they’re connected to the internet and paying for access to an OTT platform. The most popular mobile operating system across all markets is Android with 72.2% market share, followed by iOS with 26.66% (GlobalStats StatCounter). Globally, there are 3.8 million smartphones, as 48.3% of the world’s population owns one. (Bank my Cell) This means they have the freedom to choose when and what type of content they want to consume. Which beats traditional TV more and more with each passing day. Typically, OTT streaming services limit access to paying viewers. They provide premium content and a superior experience for which viewers can pay to access on a pay-per-view basis, or they can subscribe for unlimited on-demand access to the platform for a monthly or annual subscription. What is an OTT platform? & Examples Take Netflix for example. Netflix is an example of an OTT platform for streaming service that offers a wide variety of award-winning TV shows, movies, anime, documentaries, and more. And the best part is, you can watch Netflix movies & TV shows online OR stream them right on your smart TV, game console, PC, Mac, mobile, tablet, and more. Whenever you want to watch, as long as you have access to Netflix and the internet. Netflix is the biggest OTT service in the US in terms of revenue, with 30.8% of all subscription revenues heading their way. (eMarketer) By March 2020, 61% of Americans either paid for or shared a password for a Netflix account. How many OTT platforms are there? Other OTT platform examples are Disney+, Hulu, Amazon Prime Video, Peacock, CuriosityStream, Hotstar, Discovery+, Pluto TV, and so many more! as new OTT platforms are being created while you’re reading this. The list of streaming media services is expanding. Fun fact: The Mandalorian was the most-watched Disney+ series of 2020, with 14.5 million streaming minutes over the year! (Nielsen) Here are the Top 8 Over-The-Top Trends to Watch for in 2022 #1. OTT industry will continue to expand As we mentioned earlier, The Over the Top (OTT) Market was valued at USD 101.42 Billion in 2020, and it is expected to reach USD 223.07 Billion by 2026, registering a CAGR of 13.87%, during the period of 2021 – 2026. Part of this rapid growth is influenced by the COVID-19 pandemic which positively impacted the OTT market landscape, as more people switched to consuming content via OTT devices at home. This trend is here to stay as this format is expected to continue to grow, as we can see from the rising OTT subscription rate. The number of consumers is increasing as more and more people now have a digital TV in their pocket and use over-the-top media service as their go-to source of entertainment, knowledge, and content library. This presents an alluring opportunity for media buyers looking to invest in OTT streaming and take advantage of the changing consumer trends. Streaming services will dominate the market with the OTT industry as a leader. #2. Immersive OTT live streaming possibilities Live broadcasting of sports, award ceremonies, and other events on OTT platforms is a huge step forward in the transition from traditional TV. Bootshaus Live, for example, is a video streaming platform launched by Bootshaus, one of the most popular electronic music nightclubs in Germany. They were looking for a way to connect with their audience and continue to generate income when COVID-19 restrictions forced us all home, and them to close indefinitely. But they found their solution in the OTT industry. They created a subscription streaming service – video-on-demand (SVOD), where their most loyal audience can enjoy live streams of DJ sessions and get access to on-demand videos of exclusive DJ sets. So, it won’t be surprising if more OTT media houses and publishers experiment with this content format. What’s particularly interesting is how live broadcasting on OTT will match the cable TV experience. Virtual reality (VR) technology will make the viewing experience more immersive and entertaining. #3. 5G – A Key Driving Force behind OTT Adoption 5G is the 5th generation mobile network that aims to provide even better wireless internet with a fast and reliable connection and thus connect people with technology even further. 5G will become more popular as the year progresses. Using 5G will make it possible to live stream high-resolution videos with minimal latency (delay on a network or Internet connection). 360-degree live streaming will be more readily accessible, too! #4. Shared viewing experience Shared viewing was popularized when many of us started sharing the same account (e.g. on Netflix or HBO) to watch content. The five biggest U.S. subscription streaming video services saw increases in engagement in early May. (source Comscore). Now, they used this perk to transform it into a common option in streaming services so people can use one out of many accounts within one subscription package plus can also watch content simultaneously from different places when the subscriptions are shared among groups or
2Coders Academy in collaboration with SPEGC is officially launched!
We are excited to share with you that our first course on Developing native apps with Swift for iPhones and iPads devices is launched successfully! 🎉 This program was born with the aim of offering students the knowledge, skills, and abilities necessary for their immersion, as mobile application development professionals, in a labor market marked by the digital transformation of society. Students of this project are people who, having basic knowledge of a programming language, want to dive deeper into the development of iOS applications and upgrade their skills. By learning through practice, side by side with David Santana (one of the co-founders at 2Coders) together with Antonio Fernandez Vega and Julio Cesar Fernández, our students will acquire practical knowledge and experience to excel in their career. 🤓 Our mission is to satisfy the curiosity of our people in this field and nurture their passion for app development, as we enable more residents of Gran Canaria to get a job within the mobile application market. And for those that are already working in this sector, this is a great opportunity to develop extra skills! Including the non-technical, but necessary to work on a successful project and to understand the context of any mobile application, such as the operation of the application store, Apple guides, etc. The syllabus is governed by specific objectives so that by the end of it students can become Swift developers capable of creating applications for iOS devices. So far 16 students enrolled in our academy and are currently training on floor 1 in the Science and Technology Park of the ULPGC. This project is a collaboration with SPEGC SPEGC is a commercial entity wholly owned by the Council – Cabildo de Gran Canaria, and currently attached to the Ministry of Economic Development, Energy Sovereignty, Climate, and Knowledge. Its fundamental purpose is to provide support and investment for the creation and development of companies, behind a greater mission to promote economic and business activities that contribute to the development and expansion of Gran Canaria. You can find more information about this project here Desarrollo de apps nativas con Swift para dispositivos iPhones y iPads.
Market growth
Growth in the OTT platform market, the increase in technological use on the internet and the adoption of cloud processing
Responsive vs applications
Know all the differences between a responsive web, hybrid and native applications
Transparency and Accessibility
Conveying trust and honesty to citizens from public administrations
Apple TV
If you want to build your own content distribution platform and need support to make it visible in Apple TV