This column is authored by Anita Ayyer , Associate – Content Marketing, Muvi
Streaming services have grown rapidly over the past few years with several OTT Streaming Services competing neck to neck to offer the best mix of audio and video content. So what’s the latest buzz in the world of OTT? Let’s take a look.
1) Live Streaming is growing and will be ginormous
Thanks to easy access to apps like YouTube, DailyMotion and Vimeo, it’s literally cakewalk to pick up a smart device and watch videos available in a wide variety of categories.
With big players like Facebook, YouTube, Periscope venturing into Live Streaming, the popularity of Live streams has increased manifold. So you can not only consume the content but also easily create live stream videos.
Live Streaming allows amateur talents/businesses gain popularity and subsequently use it as a business strategy to generate more revenue by offering Live Streaming of Sports and other live events or Live Streaming relevant to their business. So for instance if you have a Yoga business or have your restaurant or martial arts place just live stream instantly from your mobile device or laptop, do your thing and get famous.
2) 4K Streaming will be on the rise
With various video streaming apps offering 4K support, content producers and distributors will have the opportunity to come up with higher quality video content further causing a spurt in its popularity and causing other platforms to include 4K in their technology offering.
Muvi offers encoding option that enables conversion of video into multiple resolutions for different devices including 4K. Big players in video-on-demand like Netflix and Amazon are already offering 4K content. YouTube also now offers 4K live streaming for both 360-degree videos as well as for standard videos. This is a huge leap from HD video to the current 4K displaying 8 million pixels.
Many more broadcasters are offering content in 4K. If you don’t already have 4K as part of your broadcast offering, then it’s time to start planning since the universe of content is constantly changing and if you want to be at the top of your game and keep up to pace with competition, then you need to adapt to 4K.
3) Artificial Intelligence (AI)
Today there are tons of videos available with content creators and distributors. But how do you manage all the video content on your OTT platform? Well Artificial Intelligence addresses that concern. AI enables easy curation of video content and has and will continue to revolutionize the way consumers select, watch and enjoying video content.
So your subscribers/viewers can enjoy a highly personalized video viewing experience with AI’s predictive technology based on customers reactions to video content like movies or TV shows. A deeper understanding of video content including what the characters are feeling, personality traits, themes, metadata enable the AI technology to serve tailor made content and recommendations for viewers.
4) User centric platforms
We are already witnessing the rapid growth of the OTT market with hundreds of new platforms emerging every other day to capitalize on this trend. Successful platforms will let creators and brands to use their platform. So instead of focusing on their own platform, platform owners will provide offerings that let end users to develop their own brands, reputation and digital presence which gives utmost brand entitlement
5) HTML 5 superceding and replacing Flash entirely
Flash was introduced almost two decades ago, however using Flash for video meant greater battery and processing power. There were major security vulnerabilities too with Flash. So increasingly Companies have pulled out of Flash. Neither iOS nor Android support Flash formats. Chrome also has dropped support for flash. CDN’s are also following suit. Flash is about to go extinct in 2017 in video content. HTML5 offers several advantages over Flash including it being lightweight, faster, secure and compatible. Also since it’s open source, it’s a big plus for businesses and users.
These are only some of the trends we predict as growing rapidly and we believe are set to be huge going forward. Ultra-high resolution, high dynamic range, HTML5 video, VR streaming and many more technologies will take the video streaming industry by storm. As per Streaming Media, Subscription Video on Demand (SVOD) is set to be the best business model for OTT video. So if such predictions are to be true then broadcasters and video producers should plan strategically to be sufficiently equipped to adapt to these changes.