The Evolution of OTT Platforms: 5 ways how it is Transforming the Digital Video Streaming Space

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In the digital age, OTT platforms, or over-the-top, have completely changed the way we consume content. These platforms use the internet to distribute video content instead of more conventional means like cable or satellite television. As smart gadgets and high-speed internet become more commonplace, OTT platforms have not only become immensely popular but also completely changed the way that digital video streaming is done.

OTT platforms have effectively modified their tactics to accommodate the varied inclinations and actions of distinct age groups, capitalizing on their adaptability and prioritization of digital content. OTT platforms are serving different age groups in the following ways:

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Millennials (Born 1981-1996)

Millennials are digital natives who value convenience, variety, and personalized experiences. OTT platforms have captured this demographic by:

  • On-Demand Content: Millennials appreciate the ability to watch content on their own schedule, rather than being tied to traditional TV schedules.
  • Original Content: Platforms like Netflix and Hulu invest heavily in producing original series and movies that resonate with millennial interests, including diverse genres and culturally relevant narratives.
  • Mobile Accessibility: Recognizing millennials’ reliance on smartphones, OTT platforms offer apps that provide seamless streaming experiences across devices, enabling viewing on the go.
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  • Social Sharing: Integration with social media platforms allows millennials to easily share their favorite shows and movies, fostering a sense of community and engagement.

Generation Z (Born 1997-2012)

Generation Z grew up in a digital era, preferring bite-sized content, interactivity, and socially conscious media. OTT platforms appeal to Gen Z by:

  • Short-form Content: Platforms like TikTok and Quibi cater to Gen Z’s shorter attention spans with quick, engaging videos and series that can be consumed in short bursts.
  • User-Generated Content: OTT platforms encourage user-generated content and interactive features, allowing Gen Z to participate in content creation and influence trends.
  • Diverse Representation: Gen Z values diversity and inclusivity in media. OTT platforms curate content that reflects diverse cultures, identities, and perspectives, resonating with this generation’s values.
  • Educational Content: Platforms such as YouTube and Disney+ provide educational content that combines entertainment with learning, appealing to Gen Z’s desire for knowledge and skill development.
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Baby Boomers and Generation X (Born 1946-1964 and 1965-1980, respectively)

Baby Boomers and Generation X appreciate quality content, nostalgia, and ease of use. OTT platforms cater to these demographics by:

  • Classic and Nostalgic Content: Offering a wide range of classic movies, TV shows, and documentaries that appeal to older generations’ nostalgic preferences.
  • User-Friendly Interfaces: Intuitive interfaces and easy navigation make it simple for older users to discover and enjoy content without technical barriers.
  • Accessibility Options: Providing options for subtitles, audio descriptions, and larger text sizes enhances accessibility for older viewers with varying needs.
  • Family Viewing: Platforms like Disney+ and Amazon Prime Video offer family-friendly content, appealing to older generations looking to share quality viewing experiences with their families.

The capacity of OTT platforms to serve a variety of generations highlights their flexibility and responsiveness to changing customer demands. Personalized recommendations, a wide variety of content libraries, and intuitive user interfaces are just a few of the features that OTT platforms utilize to draw and keep viewers of all ages. OTT platforms are positioned to stay crucial to the entertainment landscape as streaming technology develops and consumer behaviors change. They will bridge generational gaps and offer engaging content experiences catered to the specific interests and expectations of each cohort.

Here’s a detailed exploration of how OTT platforms are transforming the digital video streaming space and the top five factors contributing to their influence.

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1. Accessibility and Convenience

OTT platforms offer unparalleled accessibility and convenience to users worldwide. Unlike traditional TV services that require scheduled programming, OTT platforms provide on-demand content. Users can watch movies, TV shows, documentaries, and even live events at their convenience, across multiple devices such as smartphones, tablets, smart TVs, and laptops. This flexibility has empowered consumers, enabling them to tailor their viewing experience according to their preferences and schedules.

2. Content Diversity and Original Productions

One of the key factors driving the success of OTT platforms is their diverse and often exclusive content libraries. These platforms not only license popular movies and TV series but also invest heavily in producing original content. Original productions, ranging from critically acclaimed series to blockbuster movies, have garnered significant attention and accolades. This strategy not only attracts subscribers but also differentiates OTT platforms in a crowded market.

3. Global Reach and Personalization

OTT platforms operate on a global scale, transcending geographical boundaries. This global reach allows content creators to distribute their work to a broader audience, facilitating cultural exchange and diversity in content consumption. Moreover, OTT platforms leverage advanced algorithms and user data to personalize recommendations. By analyzing viewing habits and preferences, these platforms curate content suggestions that align with individual tastes, thereby enhancing user satisfaction and engagement.

4. Technological Innovation and User Experience

Technological innovation plays a pivotal role in the success of OTT platforms. These platforms continually invest in enhancing streaming quality, optimizing bandwidth usage, and supporting high-definition (HD) and ultra-high-definition (UHD) content. Furthermore, advancements in streaming protocols and adaptive bitrate technologies ensure smooth playback across varying internet speeds and devices. Additionally, interactive features, such as offline viewing, multi-device synchronization, and integrated social sharing, further enrich the user experience.

5. Disruption of Traditional Media and Business Models

OTT platforms have disrupted traditional media and business models, challenging established norms and practices. By offering subscription-based and ad-supported models, OTT platforms provide flexibility to consumers and advertisers alike. This shift has compelled traditional broadcasters and content creators to adapt to changing consumer preferences and adopt digital-first strategies. Moreover, the direct-to-consumer approach adopted by OTT platforms has bypassed intermediaries, enabling creators to retain greater control over their content and monetization strategies.

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In conclusion, OTT platforms have redefined the digital video streaming space through accessibility, diverse content offerings, global reach, technological innovation, and disruptive business models. These platforms continue to evolve, driven by consumer demand for personalized, high-quality entertainment experiences. As the streaming landscape evolves, OTT platforms are poised to shape the future of digital entertainment, catering to an increasingly connected and discerning audience.

Whether you’re binge-watching your favorite series or discovering new content, OTT platforms have undoubtedly transformed how we consume and interact with digital video streaming, making entertainment more accessible, engaging, and personalized than ever before.

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Traditional Media vs Social Media – Understanding which works best for you!

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Putting what we do “out there” is a fundamental part of human nature. We like to be appreciated and, unfortunately, thrive on the approval of others.

My story and my 15-minutes of fame

When I was a 19-year-old university student, I remember just sitting around on campus one day with friends, when out of the blue, an MTV truck pulls up. A popular VJ (video jockey) at that time jumps out and start randomly picking up students to participate in one of their challenges. My friend was picked, and he picked me as a part of his three-member team for the challenge. Long story short, we won and a few weeks after the episode aired nationally. Within minutes of the episode airing, friends and family from all over the country, some of whom I never knew existed, started calling my home (no mobile phones in those days, only those brick mobile phones existed) and congratulating my parents. Though it lasted only for a couple of weeks, I became an instant celebrity on campus. And I was just a supporting act in my team. But I had my 15-minutes of fame, and I loved it. I am still talking about it more than 20 years after the event. 

But I digress. My 15-minutes of fame has nothing to do with this article. I just wanted to talk about it. Again.

The point of my story

But, if you think of me as a product, and of MTV as traditional media, they got me limited national recognition, albeit only for a short time and only to a very niche market (viewers of MTV). If today I were to put up a similar video on social media, I could probably get the same 15-minutes of fame, only to an even more niche audience (my followers and subscribers).  

Social media platforms started as a way for friends to connect and share their life stories, but today have become an integral part of a company’s media strategy. You need to understand the differences and similarities between traditional marketing and social media to know which approach works best for you.

Differences/Similarities between traditional marketing and social media

The Reach 

Both traditional media and social media can reach either a large or niche audience. In this regard, they are similar to each other. Traditional marketing can reach a vast audience: a good example of this is the Super Bowl commercials. Super Bowl commercials have become a cultural phenomenon alongside the game itself, as many viewers watch the game only to see the commercials. The cost of a 30-second commercial during the Super Bowl LIV in 2020 reached up to $5.6 million, with the estimated reach in terms of audience of about 100 million viewers. Social media can also have a mass-market reach: you might have a large subscriber base that you built over time, or you could pay for a large number of people to be reached – for videos and content to be sent to a large audience, for banner ads, and popups. 

The Budweiser Clydesdales, mascots of the U.S. beer brand Budweiser; its parent company Anheuser-Busch frequently advertises during the Super Bowl and have won USA Today’s annual Super Bowl ad survey 14 times in its history.

But alternatively, both forms of media can reach a niche audience. In the case of traditional media, placing ads on a billboard or a local new paper can target only a specific community or an advertisement in a trade specific magazine can be used to target a specific industry. And, in the case of social media, ads can be targeted towards specific geographies, age groups, gender, search history, purchase behaviour, etc.

The Cost

 Traditional media can be expensive. A good example of the cost is again the Super Bowl ads. In 2020, a 30-second ad slot cost upwards of 5.5 million US dollars. And that is, of course, in addition to the cost of making the ad, from hiring an entire film crew with equipment, the location, the scriptwriters, the directors, the editors, the actors, etc. It can all add up to a pretty penny. Even advertising on billboards – there is the photographer’s cost, the models, the photoshoot, the cost of renting the billboard, printing/painting and maintaining, etc.

How much do you want to spend on marketing?

Social media, on the other hand, can be economical. A page on Facebook or LinkedIn can be free, and depending on your targeting parameters, the cost to promote the page can also be inexpensive. In addition, unless you are creating a professional ad, the cost to create content can be minimal; all you need is a phone with a camera and internet connection. Also, you don’t have to spend money on a physical space. Everything is virtual. 

The Workforce

Delivering on a traditional media marketing project can be very human-resource intensive. You would typically need highly trained and talented individuals, working together as a team, to deliver on even a 30-second advertisement that might just end up tanking.

Social media, on the other hand, what most mid-size companies require is 5 to 7, maybe ten people, working from home on their laptops. This may have seemed weird (or funny, in a weird way) pre-pandemic – I’m betting you haven’t batted an eye right now.

The Turnaround Time

Another simple and noticeable difference is the time taken in delivering a campaign. I am sure companies were hard at work the day after (probably even earlier) the Super Bowl ad aired, working to next year’s ad. It takes a lot of effort, planning, and coordinating to put a high-profile ad together. Even a low-profile photoshoot can take time to get right. Planning a social media campaign, on the other hand, can be done in what feels like a blink of an eye, and hence can be done multiple times a quarter. 

Time and tide wait for none

Permanence

Once an ad goes live on a traditional media platform, there is no taking backsies. There is no quick way to edit a live ad, and removing it permanently will take time and result in the loss of investment in the creation of the campaign. Social media, on the other hand – you can create, edit, and delete in seconds.

Fake News

This is where traditional media still scores over social media. People still trust the content put up on traditional media over that shown on social media. There is no way of policing all the content that gets put up on social media, and anyone can create a false campaign designed to spread disinformation. In contrast, something that’s put up on CNN or the BBC or The New York Times is more believable; this is because they have created trust over a long time and are more easily brought to account for creating or distributing false information. Sometimes the credibility of traditional media is more important than the instant gratification of social media.

These are just a few differences/similarities between the two forms of media. Figuring out what works for you and your firm is vital to planning an effective marketing campaign. What has worked for you in the past, and how did you and your firm arrive at your decision? Comment below, we hope to learn from you as well. 

In the meantime, we offer 100% online master degree programmes such as – MSc Digital Business, MSc Marketing, MBA Digital Marketing, and MBA Media Leadership to hopefully help you make more informed decisions. Chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer and the application process.

Digital Marketing – The future of marketing? 6 reasons why you should consider this as a career option!

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Marketing, like everything else in the world is constantly changing and evolving overtime.

From cave painting to word of mouth. From messages on scrolls to pictograms. From picture advertisements in magazines and newspapers to video ads in between your favourite TV programmes. 

And the evolution continues!

I mean, how many of us subscribe to a physical newspaper anymore? Netflix, Amazon Prime Video, and Disney+, just to name a few, have pretty much killed broadcast television and cable tv.  

We live in the world of binge watching, instant news (and in some cases fake news), and WhatsApp forwards! If you blink, you will be left behind!  

So, how are we to effectively market our products  and services, or  advertise to the masses in this fast paced, limited-attention times?

Digital Marketing is the answer, and  here are six reasons why I think you should choose a career in Digital Marketing!

  1. High demand
    While there are similarities between Digital Marketing and traditional marketing, the difference between them is substantial and cannot be overlooked. To do the job right, a specialist is required, and most companies accept this to be true. Digital Marketing is still a relatively new industry/vertical, and the number of specialists available is still very limited. It follows that a qualified and competent Digital Marketing professional  is highly sought after.
  2. Richness of choice within Digital Marketing
    Most people these days have limited choice in the career path they wish to take. When a company recruits for a job vacancy, for most roles, they will have an abundance of applicants, however, Digital Marketing being a new field, the opportunities available will be among the best in the market. Also, there will be a lot of opportunities within the various verticals of Digital Marketing. Here’s a few of them: 
    • Web properties –  websites, blogs 
    • SEO – Search Engine Optimization 
    • Paid marketing (PPC marketing) – Google search ads, Display ads, Affiliate marketing, social media paid ads 
    • Social media (Instagram, YouTube, Facebook channels, etc.)
    • Email marketing 
    • Mobile marketing 
  3. Show me the money
    It all comes down to the salaries and pay packages, and that’s the bottom line! People venturing into Digital Marketing will be the ground breakers, the trailblazers, the pioneers of the industry, and will have the potential to earn huge. For example, just before the lockdown started, a quick search for Digital Marketing job opportunities in the United States, listed jobs for freshers starting from USD 55’000. I think that is a pretty good place to start your career from. 
  4. Minimum entry requirements
    Digital Marketing is still a very new field, and people working in the field have very little experience in it and are still learning how to effectively develop and execute a digital marketing strategy. As everyone in digital marketing is still relatively new and mostly learning by experience, the entry requirements are comparatively lower than most other job profiles. So, now is the time to get into Digital Marketing and build a career. 
  5. Diversity in the workplace
    When the word “diversity” is used, most people think ethnic diversity. And that is true here as well, but it is also means so much more in Digital Marketing. In the morning, you could be working with extroverts who may be creators, creating ad campaigns and YouTube videos, who push their creative ideas across. And in the afternoon, you could be working with introverts who may be from Data Analytics or SEO or Website Development. This is just an example. The point is, working in Digital Marketing, there is a place for every kind of personality and the opportunity to work with every kind of personality!
  6. Creativity
    If you are passionate about the work you do (no matter how boring it may sound to someone else) then the potential for creativity exists. But the thing about Digital Marketing is, no other field of work encourages creativity and “out of the box thinking” quite as much as Digital Marketing does.

Now these are just some of the more obvious reasons to take up a career in Digital Marketing, and I am sure there are a number of other very obvious and/or more important reasons to make Digital Marketing your career. Perhaps you are building upon your previous Marketing career? Let us know in the comments below if you are already “in” and have some insights to share, I am sure it will help people make an informed decision. 

If you are ready for a career in Digital Marketing, then start with our 100% Online MBA programme in Digital Marketing or our 100% Online MSc programme in Digital Business.

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