We all know that OTT players are in the spirit of merriment with most Bollywood films coming their way for streaming. But do we know the marketing strategies of OTT players that helps them acquire Bollywood film?
No, one will say.
To find out the strategists, the OTT players employ, Approach Bollywood’s Consulting editor Ashish Mitra finds out the details after much cajoling.
The ongoing global CoviD-19 pandemic has changed the way businesses are done in the last few months. As countries went into partial or complete lockdown, consumer behaviour was defined by the consumption of only essential services. Besides, the need to stay at home has spiked the adoption of entertainment and gaming to break the monotony of staying shut. Subsequently, the activities around OTT (over-the-top) apps, online games and video-conferencing saw impressive growth in these few months. So, what is the future of OTT apps? Is the growth in video consumption via these platforms short-lived or OTT platforms are here to stay?
Covid impact on OTT Apps
Covid has been instrumental in increasing the OTT platform consumption. Since the world is battling the implications of global pandemic, most of the public gatherings are either banned or restricted. Thus, production of new movies, TV shows or even hosting of sporting events have been severely affected. OTT provides an opportunity for the users to find videos-on-demand (VOD) and watch them as per their convenience in their homes.
Now, even keeping the CoViD situation outside the fray, the OTT app industry was still on a juggernaut for some time. These platforms were already changing the way video content consumed by users over the last few years. The CoViD situation has maybe just expedited the consumption pattern of the OTT platforms, which was already growing at a steady pace.
The ongoing global CoviD-19 pandemic has changed the way businesses are done in the last few months. As countries went into partial or complete lockdown, consumer behavior was defined by the consumption of only essential services. Besides, the need to stay at home has spiked the adoption of entertainment and gaming to break the monotony of staying shut. Subsequently, the activities around OTT (over-the-top) apps, online games, and videoconferencing saw impressive growth in these few months.
So, what is the future of OTT apps? Is the growth in video consumption via these platforms short-lived or OTT platforms are here to stay? Let’s find out.
CoViD Impact on OTT Apps
CoViD has been instrumental in increasing the OTT platform consumption. Since the world is battling the implications of global pandemic, most of the public gatherings were either banned or restricted. Thus, production of new movies, TV shows, or even hosting of sporting events were severely affected. OTT provides an opportunity for the users to find videos-on-demand (VOD) and watch them as per their convenience in their homes.
Now, even keeping the CoViD situation outside the fray, the OTT app industry was still on a juggernaut for some time. These platforms were already changing the way video content consumed by users over the last few years. The CoViD situation has maybe just expedited the consumption pattern of the OTT platforms, which was already growing at a steady pace.
OTT enables you to provide your users with customized entertainment based on their preferences. Hence, marketing the right kind of content to the right audience is key to improve engagement and screen time for users. Communicating with your audience through the right channels can help you to make your platform popular quite fast.
Now, if you have an OTT platform you must be trying to upscale your OTT app consumption. But before doing so, you need to understand the growth pattern of the OTT industry, and the impact CoViD had on it. You also need to understand the key driving forces of the OTT market and its constraints. Subsequently, you need an app marketing strategy to market your platform and keep your users satisfied. So, without any further delay, let’s get to it.
OTT Apps – A disruption in the entertainment business
The consumption of online video content, according to a survey, has increased by 46% during the CoViD period. The OTT platforms were gaining traction over traditional television even prior to the CoViD crisis. Unlike television broadcasts, OTT platforms let users consume content as per their preferences and timing. Since the OTT platforms offer a diverse range of content, it helps in creating an immersive and engaging experience for the users.
As OTT platforms are gaining popularity, catering to the users’ needs becomes increasingly important. The change in user behavior due to the constraints of CoViD has been instrumental in disrupting the entertainment industry quite evidently.
Attributing this shift in pattern, facilitating the content and communicating it to the users becomes a norm for the OTT players. Consequently, the app marketing strategies has moved towards a more user-driven approach. Service providers now look to cater to user preferences in a customized way based on their profile and content viewing behavior. OTT platforms have a repository of content available for their users. Hence, creating the app stickiness that prompts users to “binge-watch” shows becomes quite essential to drive value to the business.
OTT Apps – Key drivers and constraints
The user appetite for consuming customized content was already aiding the OTT industry. However, there are some other factors that drive the growth of OTT platforms. These are:
1. High-speed internet connectivity and technological improvements
The availability of high-speed internet along with an improvement of technology has been the key driver in the growth of OTT. The high internet speed helps OTT platforms to stream high-definition and 4K videos without losing pixels and provides an immersive viewing experience. The availability of supporting television with bigger screens creates an immersive viewing experience.
2. Smart and connected devices
The Internet of Things (IoT) has enabled OTT service providers to stream content-on-the-go across connected devices, which helps viewers to access their favorite shows wherever they go and wherever they want. Moreover, the streaming services are available irrespective of the screen size and device types. Therefore, devices like connected TV, smartphones, and even a connected coffee machine become a display screen for streaming services.
3. Content availability in OTT space
The constant availability of fresh and pre-recorded content on an OTT platform is another reason why it is gaining popularity among users. People can access and watch shows according to their tastes and preferences without frequent interruptions of broadcast ads. The sponsored content and advertisements on the OTT space are customized according to the user segments. Besides, the users can skip the ads after certain playtime, resulting in better brand visibility for third-party or partner businesses too.
