Table of Contents Hide
- OTT Streaming Trend: Continued expansion of the OTT industry?
- OTT Streaming Trend: Growth of the OTT advertising market?
- OTT Streaming Trend: Hyperlocalization of ads?
- OTT Streaming Trend: Use of artificial intelligence for dynamic content creation?
- OTT Streaming Trend: Free ad-supported television (FAST)?
- OTT Streaming Trend: Emergence of 5G technology?
- OTT Streaming Trend: Accessibility to immersive streaming video?
- OTT Streaming Trend: Entry of big media houses into the market?
- OTT Streaming Trend: Subscription-based models for streaming services?
- OTT Streaming Trend: Live streaming of events and content?
Over the Top (OTT) streaming services have revolutionized how we watch entertainment. Streaming services like Netflix and Hulu have become household names in a decade.
As technology continues to evolve, so too do OTT trends. So what can we expect from OTT streaming in 2023? Let’s take a look!
Over the Top (OTT) streaming technology is one of the fastest-growing media trends.
It has completely changed how we consume media, providing many options to watch our favorite shows, movies, documentaries, and more.
But what does the future hold for OTT streaming? Ahead at some upcoming trends in OTT streaming for 2023.
OTT Streaming Trend: Continued expansion of the OTT industry?
The OTT (Over-the-Top) streaming industry continues to experience rapid growth and expansion.
As new technology and services emerge, consumers are turning away from traditional cable companies in favor of streaming services such as Netflix,
Hulu and Amazon Prime Video. As a result, OTT streaming platforms now account for an estimated 75% of global Internet traffic.
In addition to this massive user base, the OTT industry shows no signs of slowing down.
According to eMarketer, worldwide spending on streaming video services is projected to reach $159 billion by 2022 — nearly double its current rate — while subscription video on demand (SVOD) subscriptions are forecasted to reach 595 million that same year.
OTT Streaming Trend: Growth of the OTT advertising market?
The Over-the-Top (OTT) streaming trend has been increasing recently, also reflected in the OTT advertising market.
According to estimates from the International Advertising Bureau, OTT video services now account for 12% of worldwide television advertising revenue, expected to double by 2023.
Research firms such as eMarketer and Media Dynamics predict that global OTT ad spending will reach nearly $45 billion by 2021.
The growth of the OTT advertising market has been driven by a combination of factors, including increasing consumer demand for streaming content,
Advances in technology and data analytics enable better targeting and measurement of ad campaign results and rising acceptance of digital advertising formats among advertisers.
OTT Streaming Trend: Hyperlocalization of ads?
Hyperlocalization of ads is an increasingly popular trend among OTT streaming services.
This refers to the targeting of advertisements on a granular level, allowing marketers to deliver segmented messages to particular consumer audiences.
By leveraging data gleaned from user profiles and viewing habits, hyperlocalized ads offer greater accuracy and better results when reaching target audiences than more traditional media outlets.
Advertisements can be personalized according to geographic area, age group, gender, interests, or other demographic markers.
One of the main benefits of hyperlocalized ads for OTT streaming services is that they can more easily reach new customers who may have never seen their content before.
OTT Streaming Trend: Use of artificial intelligence for dynamic content creation?
Artificial intelligence (AI) for dynamic content creation is a rapidly growing trend in the over-the-top (OTT) streaming market.
AI algorithms can analyze user preferences and generate curated, personalized playlists or content recommendations in real time.
This technology allows streaming providers to provide viewers with a more engaging experience tailored to their interests and tastes.
AI can also dynamically create personalized ads based on user data, allowing OTT streaming providers to deliver more relevant ads that will likely result in higher click-through rates and conversions.
AI can be leveraged to automate content production, such as auto-generated stories from published news articles, which OTT providers could use as supplemental material for their programming.
OTT Streaming Trend: Free ad-supported television (FAST)?
The rise of OTT streaming has seen a new trend emerge in the form of Free ad-supported television (FAST).
Viewers can access content without subscribing or paying for a traditional cable or satellite TV service.
Instead, viewers are presented with free content supported by advertisements that appear before, during, and after video playback.
FAST allows consumers to watch what they want when they want and on which device they prefer, as it enables streaming and content delivery over the internet through apps like Roku and Amazon Fire TV.
OTT Streaming Trend: Emergence of 5G technology?
The emergence of 5G technology transforms how people stream over-the-top (OTT) content.
With faster speeds, lower latency, and more reliable connections compared to existing 4G networks, 5G will be a game changer for streaming services.
It can reduce buffering and picture distortions, allowing users better streaming experiences.
5G technology can increase capacity and reduce coverage gaps in urban areas where more people are streaming media simultaneously.
This increased bandwidth enables OTT providers to offer even more services, such as augmented reality (AR), virtual reality (VR), and cloud gaming, with higher performance levels than ever.
OTT Streaming Trend: Accessibility to immersive streaming video?
The OTT streaming trend has made immersive streaming videos more accessible.
Viewers can access an ever-growing content library with faster internet speeds, improved streaming technology, and more competitive pricing from providers such as Netflix, Amazon Prime Video, and Disney+.
Content on these services can be streamed in HD and 4K resolution, providing crisp imagery with crystal clear audio that is as close to a theater experience as possible.
And with the rise of virtual reality (VR) technology becoming increasingly affordable and capable of delivering true immersion,
OTT streaming services incorporate this tech to offer viewers a unique viewing experience.
Thanks to OTT streaming services, viewers now have unprecedented access to the world’s best films and television shows no matter where or what device they use.
OTT Streaming Trend: Entry of big media houses into the market?
The entry of big media houses into the OTT streaming market has been a significant trend in recent years.
This is due to the explosive growth of streaming services, providing viewers with more options for consuming content.
Large media companies have recognized this shift and are eager to capitalize on it.
Companies such as Disney, AT&T, and Comcast have all launched their own OTT streaming services.
These companies can leverage their existing content library and reach new audiences by offering their platforms.
They can control how they monetize their content and compete with other industry players like Netflix and Amazon Prime Video.
This has increased competition in the space and, ultimately, higher quality content being released to consumers across different platforms.
In addition, major media houses have also invested heavily in developing exclusive programming for their respective services, which helps differentiate them from competitors.
OTT Streaming Trend: Subscription-based models for streaming services?
The subscription-based streaming service model is becoming increasingly popular as more and more people switch from traditional cable/satellite packages to OTT streaming.
Subscription-based streaming services offer customers access to a library of on-demand content, often including live and on-demand programming, without purchasing additional hardware or paying for monthly television service packages.
The subscription model offers more flexibility than traditional broadcast television, allowing customers to watch their favorite programs wherever and whenever they choose.
Subscribers can typically choose from different tiers that allow them to access higher-quality content (for example, in HD resolution) or additional channels.
Many providers also offer free trials or reduced pricing options for new subscribers.
In addition, many streaming service providers are now attempting to replicate the linear TV experience by offering “linear” channels that provide a continuous stream of programming like that featured on cable and satellite TV services.
OTT Streaming Trend: Live streaming of events and content?
Live streaming of events and content has become increasingly popular in recent years as people seek ways to access their favorite shows, events, and sports without leaving the comfort of their homes.
OTT streaming services have transformed how people consume content, providing viewers with an affordable way to watch live broadcasts worldwide with just a few clicks.
This has created a trend of people turning towards “cord-cutting” and forgoing traditional cable packages in exchange for à la carte streaming services such as Netflix, Hulu, and Amazon Prime Video.
In addition, to live broadcasts of major events such as sports games or awards shows, OTT streaming services also offer subscribers access to hundreds of hours of exclusive content on demand.
This gives users more freedom to watch what they want at any given time – no more being stuck watching whatever is airing on TV!
The combination of live streams and on-demand viewing options makes OTT streaming an attractive option for thousands of people who want the convenience of accessing content wherever they are without paying expensive subscription fees.
OTT streaming is becoming an increasingly vital component of our entertainment landscape; by 2023, it is projected that nearly 90% of US households will have at least one subscription service.
As we look ahead to 2023, it is clear that personalization, AI-driven solutions, data-driven strategies, and platform consolidation will be some of the critical trends shaping how people consume video content over the next few years.
Streaming services that embrace these trends now stand a better chance of staying ahead of the competition and delivering enjoyable user experiences!
OTT streaming is one of the fastest-growing industries, and its future looks brighter than ever!
In just a few years, expect significant changes in subscription video on demand (SVOD), 5G technology, improved user experience (UX), and interactivity features.
All these trends point towards one thing—OTT streaming is here to stay! And as long as companies continue innovating and adapting to new technologies, we can expect even bigger things from this industry in the years ahead!