OTT platforms have been the buzz in the neo-entertainment industry for the past few years. This is due to the multi-dimensional convenience they have, as compared to conventional media. More awareness of these platforms like Netflix and Amazon Prime rose during the global pandemic times. Since theatres had been shut down and television channels were broadcasting old shows, OTT platforms had been the most viewed having fresh and meaningful content.
OTT (Over-the-top) has many added benefits for live media broadcasting. Many of these platforms allow many media companies to broadcast live news through HTTP Live Streaming (HLS). This enables viewers to stay updated with the latest news at any time, and from anywhere. People now don’t need to sit in front of the television constantly to wait for the news. This has given a huge rise to Digital Media.
FAST Channels
Free Ad-supported Streaming Television in simple words means streaming TV shows without any subscription. This mode allows viewers to watch live streaming of TV shows without spending any amount. Content providers and broadcasters can earn through the Advertisement model of monetization.
FAST Channels have a big impact on the media industry, where many widely distributed FAST channels are connected to many media giants. This collaboration makes media houses stream live programs online and get viewers even during non-peak hours.
AVOD
Advertising-based Video On Demand is getting popular with time. The planned adoption of AVOD by the OTT giant Netflix is making a strong wave in the OTT industry. Not only Netflix but is growing to other OTT platforms as well that have AVOD content. In 2022, HBO launched an Ad-supported model where many platforms are bringing up similar AVOD schemes.
Innovative Monetization Trends
As we can see, the era of the Subscription Only Monetization Model is coming to an end soon. It is not that the platforms are going to end subscription, as it is one of their major revenue earners. But, along with the subscription, many platforms have started to integrate other monetization models too, like AVOD, Coupons, Pay-per-view bundles, and more!
Interactive Streaming
Interactive streaming enables a viewing choice for viewers. Moreover, it has immense benefits for sports and media broadcasting. For example, interactive media allows news channels to live stream one or more of their events or talk shows simultaneously. Here viewers will have the choice to select the show that they want to view. Hence, this results in a win-win situation for both the viewer and the broadcaster!
OTT streaming has greatly simplified operational infrastructure for broadcasters, it brings back the focus to storytelling and content delivery. Technology and content evolution are the two levers that best define the business model of OTT and content streaming.
Content is getting more experimental and fluid by the way how it is absorbed. For example, viewers can now choose different camera angles from which they want to view a sporting match. Virtual and augmented reality are also developing side by side.
