Today's Scenario

In today’s world entertainment is one of the most leading industries, which includes the sub-fields of theater, film, fine art, dance, opera, music, literary publishing, television, and radio.

Historically, Television is among the most influential medium for building brand awareness and driving sales , however Over-The-Top (OTT) applications have proven to be successful in today's generation.

OTT platforms combine the reach and power of traditional pay-TV with the scale and flexibility of the internet to create an unstoppable force for content creators and brands everywhere.

This market is projected to witness advanced transformations, which enable the customers to access everything they want at a single space.

While 70% of consumers have at least one major OTT subscription — Netflix, Amazon Prime Video, or Hulu — many look to other media outlets to fulfill their content demands.

It is evident that since their launch OTT platforms have only observed an upward curve in their popularity and usage

Some popular OTT Services

In the last 12 months, net new installs of these top five OTT video streaming apps (Amazon Prime Video, HBO, Hulu, Netflix and Starz) increased over 400%.

OTT video ranks second in compound annual growth to virtual reality (VR), with a steady 14% projected growth through 2020. Experts say OTT app usage will grow to a $120 billion industry by 2022, and $200 billion by 2024, finally beating out pay-TV within the next few years.

Subscriptions for OTTs since 2007

Netflix having over 200 million subscribers in 2021

Rise in demand for subscription-based services has been an aspect that is driving the OTT market. The increase in penetration of subscription-based services in emerging markets is expected to fuel OTT market growth in the upcoming years.

Highest numbers of subscribers by Country

Netflix has got 75% subscribers in the United States, and Disney having the least number of subscribers with 5%

In India too, Netflix is having the highest number of subscription (57%), on the other hand Hulu and Disney having 0.7% and 0.3% respectively, People in India like watching other OTTs more that cover regional content. Eg AHA, SonyLIV, ALT Balaji

The first highest percentage of Netflix subscribers is from France - 86% and it has only 0.2% Disney+ subscribers out of the population , which is the lowest compared to all countries.

Second highest subscribers of Netflix is from United Kingdom where a population of 76% . Where as Disney+ is preferred only by 3.8% of the people.

Prime is having highest percentages of people from UAE and Brazil with a percentage of 53% and 50% respectively.

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How are people streaming video content?

Even with their small screens, mobile devices are a go-to source of video entertainment content.

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A lot of people use their smartphones to watch video even though the screen is only a few inches wide, but it’s what many of us choose for streaming TV and movies - despite Steven Spielberg’s misgivings.

The Television segment dominated the overall over-the-top market share, and is expected to fall to smartphones in the upcoming years as many started to adopt the usage of smartphones.

Benefits of OTT Platform

With the urge to get more and more on-demand entertainment, people are subscribing to streaming services even more. Here are a few reasons that back up for online streaming services:

Connectivity
Cost friendly
Convenience
Variety content
Device Independent

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