“Over the top (OTT) services refer to any sort of video or streaming media that offers a viewer with direct access to movies or TV shows via the internet. Netflix, Amazon Prime Video, and Hulu are among the most popular OTT services.”

Nowadays it’s always “Netflix and Chill” when somebody questions us about our plans after work. Honestly, that’s some good way to unapologetically spend time after a tiring day. The digitalization of technology has played a significant role in the global success of enterprises. In the last few decades, the entertainment and media business has experienced unprecedented expansion. Consumers are no longer reliant on television sets for entertainment.

On OTT services, a new era of binge-watching is gaining traction. Over-the-top, or OTT, is the preferred option for the majority of media and entertainment customers. The adoption of smartphones, computers, tablets, and low-cost internet packages are all driving factors in the shift to OTT channels.

Streaming has always been a part of some of our lives. Others will recall a period when there were only a few TV networks and no cable television, and still, others will recall a time when there were only a few TV networks and no cable television. Regardless of how you experienced the rise of over-the-top (OTT) streaming, we are all smack dab in the center of it. What brought us here? And where do you think this technology will take us?

Read More :- https://www.pukkapartners.com/insight/over-the-top-ott-services-is-strengthening-the-entertainment-industry

Major Market highlights:

In terms of the percentage of respondents who subscribe to each platform, Hotstar leads the Indian OTT video content industry, followed by Amazon's Prime Video, SonyLIV, Netflix, Voot, Zee5, ALTBalaji, and ErosNow. Users of ErosNow were the most engaged, with 68 percent reporting that they watched content on a daily basis. Partnerships have helped the platform to grow. It worked with Xiaomi in India to pre-install smart TVs.
The Walt Disney Company stated that its Disney+ program had reached 10 million subscribers in the United States after its first introduction, placing it fourth on the list. In addition, Netflix had 69.97 million customers in the United States. The United States accounts for around a third of Netflix's total international streaming user base.
IN10 Media's DocuBay, an international documentary VOD streaming service, has announced a major partnership with Foxxum. As part of the deal, DocuBay will make its collection of premium content available on the Foxxum Smart TV platform around the world, including in Europe and the United Kingdom.
Conclusion: Huge impact on the economy

With the rise in smartphone technical features and increased internet usage, the entertainment industry is benefiting from OTT services. Due to excessive free time and demand for edutainment and enjoyment during the lockdown, the pandemic Covid 19 has contributed significantly to the subscription of popular OTT series.

Because filming of TV serials and movies was halted owing to the lockdown, consumers moved to OTT and demand offshoot at a rapid rate. Because of the convenience and diversity accessible without commercials, people are becoming more comfortable using OTT services. According to current trends, the OTT market will continue to grow fast in the future years. Companies will now have to contend with changing consumer preferences for OTT platforms rather than offline entertainment.

Email / Call Us at :
[email protected]
APAC: +91 70226 21355
United States: +1 858 939 9252