The video streaming business is profitable. More people cut the cord to use OTT platforms for various purposes. In this article, we are going to talk about the reasons people choose OTT platforms that businesses should keep in mind.
The primary reason OTT platforms are gaining popularity is their convenience. They are convenient for people for plenty of reasons that we will describe below. But the Internet connection makes it easier for people to access their favorite videos almost on any device and whenever there is an Internet connection.
People have the freedom to choose when to watch a video, where, and what video to view. Due to that, more and more of them across the globe cut the cord to switch to Internet-based services.
It means that the audience of OTT platforms is probably going to grow in the next few years.
Even one over-the-top application can make consumers’ lives simpler. OTT apps allow users to access video content on additional devices: smartphones, Smart TVs, and tablets.
Users aren’t stuck with one device – a laptop, for example. They can have their mobile phones and enjoy videos. If laptops are inconvenient to use right now or another family member is working on them, a consumer takes a smartphone and plays a video.
With content available on many devices, people are not tied to one spot. They can drink tea in a cafe and watch a show.
With this opportunity, consumers are tempted to switch to services that have OTT apps.
It is simple to subscribe to an OTT platform and unsubscribe from it. Users create a profile, purchase the subscription, and voila – they watch their beloved movies and shows. The whole process takes several minutes while subscribing to cable or satellite TV can take days, if not weeks.
Some services don’t even require a subscription. They are TVOD and AVOD platforms. An AVOD platform allows users to watch videos free of charge. But viewers will also watch ads. Advertisements are what bring revenue to an OTT platform owner.
TVOD platforms give consumers the opportunity to pay for a season or a single movie.
What is more, businesses can easily manage the subscription models with the software going along with the platform. Learn more about OTT subscription management in the blog article.
Video content choice
TV programs are usually limited to shows and movies created especially for broadcasting on TVs. OTT platforms can boast diverse content. There are many movies, series, and shows at a user’s disposal. Filters will help find a video to watch according to consumers’ moods or genre preferences.
It should also be noted that new movies and series are first to be streamed on OTT platforms rather than TV.
What is more, consumers can watch videos of not only local production. They can watch those that are made in another country. The same refers to live streams.
All these reasons point out that people will likely switch to OTT platforms in the future as they promise a lot of conveniences. It is easier for consumers to find videos of their interests on OTT platforms.
Additionally, these services do their best to make the user experience more personalized.