Over-the-top (OTT) is now used to refer to streaming services and content that are broadcasted via the Internet. OTT is frequently mistaken for connected TVs and there’s is the impression that OTT is only about TVs. That’s was probably true in the past, but not anymore. OTT can be broadcast anywhere to your digital device, as long as you’re connected to go online.
Here are the three categories where OTT falls into:
OTT is now disrupting some of the services that were initially provided offline, through physical media. Traditionally, if someone wishes to buy shares, that should be a physical meeting with the broker and shouting the price of the shares they wish to buy or sell and a counterparty would then accept if the price is fair or not. Nowadays, titles and shares are bought online and confirmed at a glance. This is saving people’s time, not to mention the vocal cords of thousands of stockbrokers.
Calling a taxi is one of the things that OTT disrupted. Traditionally, you had to call a taxi to get a ride. But now, they are ride apps, like Uber, that let people book rides online.
OTT affected the majority of cable TV providers. A lot of people are finally “cutting the cable” and ending the associated costs by embracing streaming services. The leaders of the list are Netflix, Hulu, and Youtube, each with millions of followers.
Other OTT applications use the Internet to SMS, MMS and to make phone calls. For example, text messages that were sent by the cellphone service are now sent through digital communication apps like WhatsApp, Telegram, Signal, or iMessage.
OTT Apps help everyone adjust to new changes in the industry. For example, those who don’t have a Smart TV can use Apple TV, Chromecast, Roku, or Fire Flash Drives to stream content using their normal TV. In addition, you can now watch OTT video content on your cell phone, tablets, or iPads, as long as you using the respective video streaming app.
As the Internet of Things (IoT) devices grow at home, they continue to disrupt the different business sectors. For example, people that are installing solar panels to avoid the charges that come with the power grid.
The benefits of OTT devices are clear, they are beneficial for both the advertisers and the consumers. OTT apps offer more payment options and advertising strategies than any traditional method.
Other benefits are:
OTT disrupted a lot of industries and brings convenience to our lives. In the marketing context, marketers can now promote their products, services, and brands to each target audience with the features that define that audience.
That means much more return, and at a much faster pace, since it is organically and naturally extends the VCL – Value of the Customer Lifecycle at medium term.