The over-the-top (OTT) industry is growing rapidly as more and more consumers cut the cord and turn to stream services for their entertainment needs. And there are no signs of this trend slowing down any time soon. In fact, research firm eMarketer predicts that the number of OTT users in the US will reach 198.5 million this year, up from 193.2 million in 2018.
What’s driving this growth? Part of it is simply the increasing availability of high-speed internet connections, which make streaming video a viable option for more people than ever before. But it’s also due to the exploding popularity of streaming devices like Roku and Amazon Fire TV and the growing number of streaming services to choose from, including Netflix, Hulu, and HBO Now.
With so many people using OTT services, it’s no surprise that companies are clamouring to get a piece of the pie. Ad spending on OTT platforms is expected to reach $7.86 billion by 2022, up from $2.61 billion in 2017, according to estimates from Magna Global. And brands are experimenting with new ways to reach OTT viewers, whether it’s through traditional commercials or native advertising.
There’s no doubt that the OTT industry is booming. And with so much opportunity for growth, it’s safe to say that the outlook for the industry is bright.
The future is online, and it’s called Over-The-Top (OTT) media. OTT describes the delivery of content – movies, TV shows, music, games, and more – over the internet, without the need for a traditional cable or satellite subscription. While OTT has been around for several years, it has exploded in popularity in recent years, thanks to the ubiquity of high-speed internet connections and the proliferation of connected devices. And as more and more consumers cut the cord and embrace streaming, the world of tomorrow is starting to take shape.
In many ways, OTT is the natural evolution of television. Rather than being limited to a handful of channels, OTT allows users to access an almost infinite amount of content from a variety of sources.
This gives users more choices and allows them to customize their viewing experience in a way that traditional television cannot match. For example, with OTT, I can choose to watch my favorite shows on-demand or even subscribe to a service that delivers new episodes automatically as they air. I can also watch content not available on traditional television, such as international news or niche programming.
OTT is also changing the way we consume content. Thanks to platform offerings like Netflix and Amazon Prime Video, we are no longer restricted to watching content on our televisions. Instead, we can watch shows and movies on our phones, tablets, and laptops – wherever we happen to be. This newfound flexibility has transformed the way we watch television, making it easier than ever to fit entertainment into our busy lives.
The world of tomorrow is online, and it’s called Over-The-Top media. OTT is worth checking out if you’re looking for more choice, convenience, or a better way to stay entertained.