New-age technologies are giving birth to new industries and allowing them to prosper. The vast and dense availability of Fast Streaming and Streaming TV invented the “Streaming Industry” or “Over-The-Top Industry” and increased its growth to multifold. This industry became popular because it allowed the users to watch whatever they wanted, whenever they wanted – all the users need is a good internet connection and a device. And it’s a clear mantra that if your product increases comfort in the user’s life, then it will be a hit.
Trends In The Streaming Industry
Metaverse, AR & VR
To explain in easier words, think that the Internet is a complete world in itself. Now, this world is named “Metaverse,” and users can enter this world using a mix of AR, VR, and other technologies. The graphics in the Metaverse will look more natural and appealing; hence it is supposed to attract more users. Netflix has already hinted that it is working on gamification technology to extend its market.
Free, Ad-Supported TV (FAST)
There were times when ads were tedious and unnecessary, but ads have developed with the growth of data analytics and viewer demographics. Now, we only get ads about what we like and not others. Companies like Amagi are using the power of technology and integrating with FAST services to do both tasks – provide users with quality content and at the same time create revenue for content owners.
5G And Low Latency
Latency is the delay between the input and output. For Metaverse and new technologies to work, very low latency is necessary. Automatically, a higher network speed will result in low latency, so 5G is considered a game-changer in the Streaming Industry.
Blockchain, Cryptocurrency, and NFTs
Blockchain is a database where similar objects are chained chronologically in the form of blocks. Non-Fungible Tokens or NFTs are a form of data that can be stored on blockchains and traded. Think of NFTs as digital ownership certificates.
Cryptocurrency and NFTs will provide a better way for financing and content distribution, which will help streaming industries in multiple ways. How to Watch ATT TV on LG TV?
Revenue Sources for OTTs
- Subscription Video On Demand – The user needs to buy a subscription to access the content.
- Advertising Video On Demand – Users can watch the content for free with ads
- Transactional Video On Demand – This model is also known as pay-per-view. Users have to buy the content every time they want to watch.
- Hybrid – Some companies combine two or three of the above-listed models to generate revenue.
Conclusion
As OTT platforms start using better technologies to increase the quality of interaction with the user, it is sure that they will rise. As a result, the OTT market estimates to reach USD 223 Billion by 2026, and there is a high probability that the latest trends will turn this expectation into reality.
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