One of the challenges of OTT TV is that consumers often subscribe to several services to access all the content they want. Everyone in the family enjoys their own shows from their own device, at home or on the go.Ĭonsumers turn to streaming services mainly for the exclusive content, advanced features such as personalization and multiscreen, and the lower cost of OTT TV. Television went from a family experience to an individual pastime. With OTT TV, consumers choose what to watch, when and where to watch it, and how much of it they want to watch. The fact is that OTT TV holds advantages over Pay TV that push consumers to churn. But cable has been losing ground for several years now. One of Pay TV’s strongest cards is live sports, but with major events canceled in the first half of 2020, many consumers chose to cut the cord. However, it has not benefited Pay TV, which has suffered its biggest subscriber loss in years, due to the growing adoption of streaming services. Today, OTT can deliver several types of content: Video-on-demand (VOD), live streaming, and linear TV.Ģ020 was a beneficial year for several industries, including OTT TV. So, OTT TV is the delivery system of online television content. To enable OTT on other types of television screens, consumers need to use intermediary devices such as Apple TV, Amazon Fire TV sticks, or game consoles. It can be viewed on any device with an internet connection or on Smart TVs.
That is why OTT Television is often called online television, internet television, or streaming television. OTT TV stands for “Over the Top Television” and refers to video content being streamed directly to consumers via open internet, rather than through traditional tv service providers. Rather, we’re seeing the market evolve into a more advanced version that combines the best of Pay TV and OTT TV, but is greater than the sum of its parts … Cloud TV. But despite its success, OTT TV isn’t pushing Pay TV out of the picture. The market size estimations are set at $125 billion by 2025, showing no signs of slowing down. In 2020, with “chilling at home” pretty much imposed by authorities, streaming platforms such as Hulu, Amazon Prime Video, and Disney+ brought in millions of new subscribers, with Netflix’s global subscriber base crossing the 200M mark. Currently, more than two out of three American households are enjoying streaming video services.
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