The Soaring Growth In OTT Streaming Hours and Service in the US is Creating a Higher Demand for TV App Development
A recent survey by Statista highlighted that the revenue of OTT platforms is expected to grow from approximately 46 billion USD in 2020 to 88 billion USD in 2026 in the United States. This indicates the huge scope of the OTT market growth in the US. However, the main context lies in the driver of its growth. Also, what elements can ensure this continuity?
Elements of OTT platform
OTTThe OTT platform has emerged to be a renowned online channel. It offers the option of creating preferred OTT content streaming services. Content creators can make their work accessible to viewers without any broadcast platforms or traditional cable.
The features of OTT platforms that excite users are as follows.
- AI-based recommendation engine
- Customised retention packages
- Easy navigation through interactive UI elements.
- Developing Multi-experience interface
- Push notifications sent to engagement windows.
Developers ensure that users get enough freedom in customising the view of OTT platforms. Using such platforms, users can generate their own video streaming services. Users can also develop their own audio streaming services.
Drivers of the OTT growth
Increase accessibility of the internet
The United States is one of the largest hubs of innovation and technology. It also gives shelter to some of the leading internet ventures, such as Alphabet, Amazon.com, Meta Platforms, Netflix, and others all across the world. Over the last 20 years, the US has expanded its digital population. More than 90% of the US population has fair access to the internet.
Availability of numerous OTT platforms
Being one of the largest technological hubs, the United States is also the home of nearly 300 OTT platforms. It has extensively grown since 2014. Even though some of the OTT service providers have left the market, the OTT segment in the US stands strong. Thus, users need to contribute to the number of OTT platforms compatible with the devices used by the US population.
OTT market opportunities
Increasing need for OTT development companies or related service providers
Developers have a huge scope of growth in terms of the expansion that the US's OTT segment has experienced. Developers need to prioritize the matter of customization when they are developing for a huge US-based population. If an OTT service provider is seeking to expand their service availability in the US market, they can opt for the same.
OTT market growth has brought in rapid digitalization. Developers can incorporate the functionalities of microservices while developing OTT apps. Streaming and cloud microservices have changed the way of developing streaming services. Streaming technologies are less complex and loosely-allied technologies compared to traditional broadcasting hardware, so the former can be easily operated on.
It is effective to use containers and DevOps while deploying the technology stack of streaming operators.
It is suggested to migrate the streaming stack to the definitive microservices architecture for increased digitalization across the OTT segment. It will scale the streaming stack more flexibly compared to other stacked containers. It will gain more CI/CD agility, thereby making the deployment much faster.
Increase in the consumption of Video
The video streaming hours have increased. Though OTT services include audio streaming, news streaming, and others, video streaming services are a crucial part of such platforms. With the increase in the rate of internet penetration and easy access to OTT services, people are more into digital videos.
Also, with the option of SVOD (Subscription Video on Demand), TVOD (Transaction Video on Demand), and AVOD (Advertisement-based video-on-demand) content, OTT service providers have expanded their user base.
How OTT developers can contribute to its growth?
The main focus should be on enhancing the user experience of OTT apps.
Go for clone scripts
Clone scripts are the project model which users can imitate. In this way, they can get a fair idea of a successful strategy while also adding their own part of innovation. In terms of launching an OTT platform, developers can already get an understanding of the workflow and user interface of successful OTT apps.
Considering clone scripts for OTT platform can offer the following benefits
- Affordability in terms of operational cost
- Bug-free since these clone scripts are already tested
- Quick launch
- Increased scalability
Strong metadata management results in increased visibility. As a consequence, users can improve the schema of the streaming videos by adding descriptions, tags, and URLs. This can let OTT service providers gain more viewers by performing well in Internet searches.
Customizing the option of video caption
Incorporating the CMS dashboard in the OTT platform can help. With this, developers add CC or closed options to the video. The options of CC can increase watch time and improve the accessibility of videos. Hence, users can customize the CC options while streaming either live or recorded videos.
Video analytics features
Maintaining the consistency of OTT service growth indicates acquiring and retaining users. On this note, both developers and OTT service providers should focus on video analytics. This will help in evaluating video performance based on getting data on
- Most viewed videos
- Demographic-based views
- Most commented videos
- Watch the frequency of a video
- Time spent on watching videos and much more…
Through the criteria of "Smart Upload,"’ developers need to work on uploading bulk videos at a time, transcoding, and provisioning to import huge video libraries.
The trend of OTT growth in the US is fine, but what matters is consistency. Thus, there should be a rush to attain a higher level of innovation to maintain this growth in the future. This effort should be from the developers and OTT service providers.
A science graduate who has a keen interest to lean about new technologies and research area. With an experience in the field of data analytics and content writing, she aims to share her knowledge among passionate tech readers.