Success strategies for OTT players in a post-COVID world

ott whitepaper

 

The coronavirus pandemic has dramatically changed the way we live, work, play, learn, socialize, and entertain ourselves. While this spells doom for many industries, OTT platforms are facing a billion-dollar opportunity.

For the past few years, OTT platforms have already been the unicorn of the media & entertainment space. Deeper internet penetration, consumers getting access to cheap data and better connectivity, and affordable smartphones have all contributed to OTT’s meteoric rise.

According to a February 2020 report by Research and Markets, the global streaming market is poised to grow at 19.1% CAGR from 2019 to 2024 and touch $688.7 billion. The coronavirus pandemic of 2020 may have bumped up these numbers even further. With malls, shopping complexes, and cinemas out of bounds and millions of people self-quarantined in their homes since mid-March, it is no surprise that even more people are turning to OTT platforms for entertainment. In the US, subscriber spending on streaming services has increased from 20-50% depending on the channel.

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