VOD + OTT Video Streaming
VOD (Video On Demand) and OTT (Over The Top) streaming media and distribution services is now the prevelent technology for consumers to view entertainment and news content.
What Is VOD?
VOD stands for video on demand, and refers to a distribution platform that delivers content through subscriptions, pay-per-view, and rentals. This allows viewers to watch the content they want, where they want it, and when they want it.
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What’s the Outlook for the OTT Industry?
If there’s one thing that American culture is synonymous with, it’s the culture of cool. In post-WW2 America, it was bubblegum, Coca-Cola, denim jeans, and TV dinners in front of the Andy Griffith show. Families would pull out the dinner trays and prep at the microwave before sitting down and spending quality time in front of The Tube. We’re going to go ahead and call it: binge-watching the latest must-see TV series is the real American pastime. It was the weekly ritual, and it was a cultural cornerstone by every means of the word.
But cool isn’t always about pastimes—cool is also about what’s next. And the world no longer consumes TV as a family, once a week, together around the television. Now we’re all streaming our content across our favorite handheld devices as much as we’re watching it on our computers and televisions. And the best part is that we’ve got the added bonus of watching our content whenever we want. It’s cool, and it’s shaping (if not leading) our need-it-now mindset and culture from the inside out.
That’s not to say everything is going smoothly. Obviously, the cable companies are getting the short end of the stick when it comes to the new opportunities. As are the big broad networks like ABC, CBS, and the like.
However, instead of becoming extinct, the demand for content is merely pushing these companies to consider different ways to market and deliver. Cable providers are still in the mix since many are providing internet services, and the main TV channel networks aren’t giving up their broadcast streams, they’re just ALSO going after the OTT audience with digital streaming through apps, platforms, and more. Why does that work? Because SO many people need content and the demand for on-demand content is growing fast. On-demand video accounted for more than three-quarters of all time spent streaming in Q1 with 76% share to live video’s 24% share.
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