OTT is a huge part of today's world. It seems that if you want to compete as a broadcaster or content provider, going OTT is inevitable. But when is the best time to go OTT?
To gain a clear understanding of where the world is at regarding OTT maturity, let's take a look at this chart (originating from the new "OTT video services" report by Unisphere Research and Streaming Media). It shows the companies' progress globally based on four different stages of OTT maturity...
An interesting insight that corresponds to the increasing number of companies at Stage 1 or 2 of maturity comes from the finding that in 2015, only 13% of the survey respondents said their companies were part of a larger media group. This number rose to 15% in 2016 and accounted for almost 20% of all 2017 responses. It seems that mergers and collaborations play a big part in the OTT's continual development.
Now, this chart shows the main reasons for businesses offering their consumer base an OTT service.
As you can see, the main reason a brand or business 'goes OTT' is to attract new subscribers or customers, closely followed by distributing new content, and become more competitive in their market.
It's plain to see just how powerful and indeed versatile OTT is when it comes to creating brand awareness, opening up lucrative new revenue streams, attracting new fans, and distributing content to a targeted audience.
OTT serves a number purposes, but at its core, Over-the-Top television helps to entertain, engage, and inspire - the key ingredients to success in today's fast-paced digital world.
So, when's the best time to go OTT? Ultimately, the decision lies with you. Ask yourself why you want to go OTT, what you want to achieve, and the rest will follow. But don't leave it too late - the early bird tends to catch the worm.
Find out when your video service outgrows the DIY phase and what makes a winning OTT service.