LEADING TRENDS OF OTT PLATFORMS THAT CAN TRANFORM THE INDUSTRY IN 2020

best ott platform of OTT platform subscribers are about 150 Million and expected to increase to at least 500 Million by 2023. Because of the high-speed internet available at affordable prices, feasibility of OTT platforms to watch anywhere anytime and availability of Smartphones at competitive prices have helped the OTT platforms’ growth dramatically. As per a study, it is said that most of the viewers watch videos more on the Smartphones than on Laptops or Televisions.
Because of this boom in the OTT platform industry, several OTT platform service providers are entering the industry with unique offerings. In 2020, as the industry is booming, this year is going to be the game changer for OTT platforms. Many of the big OTT platforms like Amazon Prime Video, Netflix and Disney + Hotstar are relying on OTT platform video streaming.
So, let’s check what are the leading trends that can transform OTT platform industry.
Artificial Intelligence (AI)
Every OTT platform has their unique AI system and they are trying to develop it more so as to increase the user experience. Almost every OTT platform in India is a subscription-based platform, which in turn they are investing more into AI which is helping OTT platforms in improving personalized experience to the user.
As per the trend in the OTT platform industry, video streaming businesses will invest more into their AI to enhance their OTT platform video streaming services. To endure high quality content on all devices, AI is being used to determine the most feasible video format.
OTT platform are also developing their AI so as to find and deliver the right content to the viewer based on their preferences and past viewing experiences. This will also help OTT platforms in delivering the right content to the right person.
OTT platforms are becoming more adaptive with the help of AI and helping them in competing with other platforms in the video streaming industry.
Music Streaming
Users are resorting to music streaming online rather than on radios as there lesser or no ads on OTT platforms, listening to any song anytime is helping the users to enjoy their music with no or less interruption.
OTT platforms are also providing the facility to have a playlist of songs but not having to store anything on their mobile phones. They are providing a better experience as there are no lengthy ads or RJs to interrupt them while they are enjoying their music.
Smartphones / Mobile Phones
According to a report, the number of mobile phone subscriptions are more than the world’s total population. And also, most of the viewers of the OTT platforms are streaming on their Smartphones only as it is more feasible to watch or stream anywhere and at any point of time.
With the number of Smartphone users increasing, the usage of these OTT platforms will also grow substantially. Also, with rolling out 5G and at affordable prices, the growth of Smartphone users for OTT platforms will definitely increase.
As Smartphones becoming affordable and also the data subscriptions available at affordable prices, lot of OTT platforms are rolling out with their own highly functional mobile apps or mobile friendly websites as we can expect the Smartphones will be taking over Televisions to watch video content.
5G
HD videos have become a norm nowadays as Laptops, Smartphones and other streaming devices are capable of playing of 4K videos and because of this high-quality content is being demanded more among the viewers. For streaming 4K videos, we need at least internet bandwidth of 25 MBPS and for streaming without buffering we need at least 50 MBPS. It can be enabled on the Smartphones only through 5G.
Not only 4K videos but also, streaming of 8K videos, 360O live streaming, VR and other personalized broadcasts will become a reality with 5G. OTT platforms now trying to render more high-quality content as it will increase the viewer experience to next level.
Conclusion:
Lastly, OTT platform industry will witness a dramatical growth very soon as with affordable internet prices and increase in usage of Smartphones a greater number of users are expected to subscribe for OTT platforms.