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 is the impression that OTT is only about TVs. That was probably true in the past, but not anymore. Now, OTT is to be able to broadcast anywhere, to any digital device, as long as you’re connected and ready 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. To give an example, traditionally if someone wishes to buy shares, there should be a physical meeting with the broker to decide the share’s price or sell it, and then a counterparty would have to agree with the price’s fairness. 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 Services has grown over the years, and now we can have anything in a manner of seconds, through modern and new technological channels. From media preparation to platform setup and distribution, OTT covers any step needed to move to the digital.
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 were designed to facilitate access to multiple services available online and were perfected over the last years to be people’s companions whenever they are, and the same applies to streaming services or video platforms.
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.