The Exponential Growth of The Global OTT Streaming Market Due to COVID-19

The Coronavirus pandemic has impacted businesses and industries in unparalleled ways. During COVID-19 quarantine, people have formed new habits and businesses have started to diagnose relevant approaches to connect with their customers.

In the same manner, out-of-home entertainment is reeling under the effects of lockdown and social distancing. So, when people got restricted in the vicinity of our homes, they turned towards OTT for entertainment.

There has been a noticeable increase in online media consumption as people across the world have been housebound since the pandemic onset. The appetite for content consumption has been increasing among consumers and OTT platforms have been experiencing uptrends in viewership. 

OTT  Market Growth Amidst Covid-19 Pandemic

The global over-the-top (OTT) market is expected to observe remarkable growth owing to rising adoption of OTT platforms as more people are subscribing to these entertainment platforms during the Covid-19 pandemic lockdown. To point out, it is expected to grow from $104.11 billion in 2019 to $161.37 billion in 2020 at a compound annual growth rate of a whopping 55%. This exponential growth, again, is mainly due to worldwide lockdown caused by the COVID-19 outbreak, during which subscription to various OTT streaming channels and viewership has increased.

Moreover, during the emergency time, many government agencies are conducting various programs to help companies. 

What has truly changed is customer’s social behavior, which is shifting from traditional subscriptions to broadcasting services and to over-the-top (OTT) on-demand video. This will drive the OTT streaming market in the forecast period at a very fast pace. Various segments of the population have started using video streaming services instead of regular television for entertainment, due to added benefits such as on-demand services and ease of access. 

The dramatic rise in demand for live streaming channels and ongoing creation of cloud-based OTT services would drive substantial market growth in the following years. 

OTT Business Growth 

Many digital media and broadcast providers have stepped up their efforts to build new channels for consumers to access different types of content, such as music, videos and other contents because of a lot of online viewers and this in return, has caused a rising number of OTT services. 

The emergency COVID-19 has created, positively impacted the world’s OTT business growth in general. This increase is partly due to the i different governments around the world are pushing in demand for OTT and e-sports in the COVID-19 lockdown. Furthermore, the lockdown period provided a boost to OTT entertainment services that increased the viewer’s interest for online content via a number of platforms including Amazon Prime Video and Netflix. Such factors boosted the market for OTT services dramatically during the time of lockout.

Go OTT Direct with InPlayer’s Protection Wall 

Great content can put you on the path to OTT success. Bolstering your offering with a paywall platform designed to support OTT subscriptions will get you even further.

Moreover, the industry has become an increasingly challenging environment for small content providers with a high demand to deliver niche content. This means not only offering must-have content, but also delivering a high-quality product that always works.

With InPlayer’s Plug and Play Paywall you can easily go OTT direct to consumers with speed and ease. As a content provider you can rapidly deploy fully customizable InApp premium monetization experiences across multi-tv platforms, connected TVs and devices. You can make a profitable broadcast business and give fans a unique viewing opportunity beyond traditional TV. Whether an SVOD or TVOD service, you’ll grow revenue in weeks.

Combining support for time-to-market speed, proactive retention, global reach, and more, InPlayer solutions can help you continually improve subscription and recurring OTT revenue.

GET IN TOUCH

 

The Exponential Growth of The Global OTT Streaming Market Due to COVID-19

The Coronavirus pandemic has impacted businesses and industries in unparalleled ways. During COVID-19 quarantine, people have formed new habits and businesses have started to diagnose relevant approaches to connect with their customers.

In the same manner, out-of-home entertainment is reeling under the effects of lockdown and social distancing. So, when people got restricted in the vicinity of our homes, they turned towards OTT for entertainment.

There has been a noticeable increase in online media consumption as people across the world have been housebound since the pandemic onset. The appetite for content consumption has been increasing among consumers and OTT platforms have been experiencing uptrends in viewership. 

OTT  Market Growth Amidst Covid-19 Pandemic

The global over-the-top (OTT) market is expected to observe remarkable growth owing to rising adoption of OTT platforms as more people are subscribing to these entertainment platforms during the Covid-19 pandemic lockdown. To point out, it is expected to grow from $104.11 billion in 2019 to $161.37 billion in 2020 at a compound annual growth rate of a whopping 55%. This exponential growth, again, is mainly due to worldwide lockdown caused by the COVID-19 outbreak, during which subscription to various OTT streaming channels and viewership has increased.

Moreover, during the emergency time, many government agencies are conducting various programs to help companies. 

What has truly changed is customer’s social behavior, which is shifting from traditional subscriptions to broadcasting services and to over-the-top (OTT) on-demand video. This will drive the OTT streaming market in the forecast period at a very fast pace. Various segments of the population have started using video streaming services instead of regular television for entertainment, due to added benefits such as on-demand services and ease of access. 

The dramatic rise in demand for live streaming channels and ongoing creation of cloud-based OTT services would drive substantial market growth in the following years. 

OTT Business Growth 

Many digital media and broadcast providers have stepped up their efforts to build new channels for consumers to access different types of content, such as music, videos and other contents because of a lot of online viewers and this in return, has caused a rising number of OTT services. 

The emergency COVID-19 has created, positively impacted the world’s OTT business growth in general. This increase is partly due to the i different governments around the world are pushing in demand for OTT and e-sports in the COVID-19 lockdown. Furthermore, the lockdown period provided a boost to OTT entertainment services that increased the viewer’s interest for online content via a number of platforms including Amazon Prime Video and Netflix. Such factors boosted the market for OTT services dramatically during the time of lockout.

Go OTT Direct with InPlayer’s Protection Wall 

Great content can put you on the path to OTT success. Bolstering your offering with a paywall platform designed to support OTT subscriptions will get you even further.

Moreover, the industry has become an increasingly challenging environment for small content providers with a high demand to deliver niche content. This means not only offering must-have content, but also delivering a high-quality product that always works.

With InPlayer’s Plug and Play Paywall you can easily go OTT direct to consumers with speed and ease. As a content provider you can rapidly deploy fully customizable InApp premium monetization experiences across multi-tv platforms, connected TVs and devices. You can make a profitable broadcast business and give fans a unique viewing opportunity beyond traditional TV. Whether an SVOD or TVOD service, you’ll grow revenue in weeks.

Combining support for time-to-market speed, proactive retention, global reach, and more, InPlayer solutions can help you continually improve subscription and recurring OTT revenue.

GET IN TOUCH

 

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