Global Over the Top (OTT) Services Market: Strategic Alliances and Partnerships with Content Creators is Enhancing the Market Reputation

Global Over the Top (OTT) Services Market

Over the Top (OTT) services are defined as the collection of services used in the delivery of content over internet, not requiring the need for conventional cable subscription. The term “Over-the-Top” is coined to distinguish these services from conventional satellite or cable TV subscription, although the delivery of content is almost similar in procedure. Both require a specialized cable connection, although one of the major differences is in the delivery method. On one hand, OTT services are availed through specialized app subscription and internet availability, whereas cable TV providers provide different channels directly to the users once they avail the subscription services

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Over the Top (OTT) services market is growing due to wide availability of broadband infrastructure, growing personalization of technology; the effects of these factors are mentioned below:

  • Wide availability of broadband infrastructure: The availability of high-speed internet has had a positive influence on a number of associated service offerings with one of the major beneficiaries of this availability for consumer-centric services being live streaming/streaming service or OTT services. Because of the requirement of consistent high-speed internet service to stream content of different varieties, its adoption had been limited till the infrastructure was made available. This availability of broadband infrastructure enables the OTT service providers to take advantage of this opportunity to expand their marketing base and present users with a wide variety of subscription discounts to enhance their subscription base
  • Growing personalization of technology: OTT services utilize specially created analytics services which provide content based on the preference and likeness of individuals attaining subscription from the providers. This means that the content being suggested to the individuals is based on their online searches, previously availed content delivery and other connected device analytics. This analytics gives an added advantage to the OTT service providers over the conventional cable businesses as they can deliver personalized and unique content for each individual

Product expansions and business acquisitions conducted by different market players are mentioned below:

  • In February 2019, UEFA announced their plans for the launch of their own OTT service at the “43rd UEFA Ordinary Congress” held in Rome. The launch of OTT service is expected to be finalized in the next several months to promote the accessibility of football across the various regions. The OTT service is expected to be available in regions outside Europe and North America to not clash with the broadcasting rights already allocated to the service providers of the region
  • In October 2018, Zee Entertainment Enterprises announced the expansion of their over-the-top (OTT) video service for more than one ninety countries, and in doing so becomes India’s first ever entertainment service provider to have its presence in such a large geographical area competing with industry’s established international leaders. The launch includes the availability of service on android, iOS and web; although the plans for extension of platforms is already in place with the company looking to make the availability of this service across smart TV’s, and in collaboration with other device manufacturers such as Amazon and Apple

The market is segmented on the basis of content type as voice over IP, text, image, video; platform is categorized into smart devices, laptops, desktops, tablets, set top box, gaming consoles; deployment model is categorized as on-premises, cloud; service type as consulting, installation, maintenance, training, support, managed services; user type is small office, home office, small enterprises, medium enterprises, large enterprises; revenue model as subscription, rental, procurement, advertisement; vertical as media & entertainment, healthcare, IT & telecommunication, retail, education, government, others.

“According to Data Bridge Market Research, global over the top (OTT) services market is expected to reach USD 132.4 million by 2025, growing with a healthy CAGR during the forecast period of 2018 to 2025”

Some of the major players operating in market are Amazon Inc., Apple, Inc., Rakuten, Inc., Evernote Corporation, Dropbox, Inc., Hulu, LLC, Skype, Google, Inc., Netflix, Inc., LinkedIn Corp., Twitter Inc., Facebook, Inc., Yahoo Inc., Nimbuzz, Microsoft Corporation, Limelight Networks, Inc., Akamai Technologies, IBM Corporation, Roku Inc., Brightcove Inc., Kaltura Inc., ActiveVideo, HBO NOW and many more.

Currently, over-the-top (OTT) services have a very limited service base to work, with the influence of cable-TV and satellite TV subscription model still widespread; the need for having strategic partnerships with content providers and players in certain developing regions of the world for greater revenue generation opportunity and availability of a larger content base. This opportunity is being taken advantage of large international players on a large-scale with smaller players slowly adopting this strategy to enhance their share in the market.