OTT: A chance to topple big broadcasters?
With services like Netflix, Hulu and Disney+ available in the market, conventional TV broadcasters all around the globe are definitely being challenged. This OTT trend has pushed big broadcasters to such an extent that many of them have now started developing their own streaming services.
Networks such as Fox, HBO, NBC, ESPN, BBC etc have launched their own platforms. This is not merely a step to enhance their game but also an attempt to stay relevant in the industry by adapting according to modern dynamics. However, they are still not up to the game and nowhere near platforms like Netflix and Disney+. Their services are geo-restricted therefore they cannot be accessed by anyone outside their host regions.
Streaming providers also have geo-restrictions but only on libraries. For example, viewers cannot watch American Netflix in the UK because of the licensing and content distribution regulations.
The rise of OTT platforms
Recently, the trend of cord-cutting has increased exponentially and people of almost all ages are adapting to this shift. And why wouldn’t they? After all, viewers are getting a large variety of movies, TV shows, reality shows and more provided on a single platform.
The best thing is that audiences can stream whenever, wherever and on whatever device they choose. One could be in the office, with a laptop or a mobile and no matter what time it is, they can simply open an app and start streaming. This independence that cord-cutting provides is what entices people: rather than sitting in front of a TV and being bound to scheduled show timings, individuals get the liberty to watch anything anytime.
Another great thing about OTT platforms is that they are reasonably priced and sometimes cheaper than cable subscriptions.
Who’s the king?
Currently, Netflix is considered to be the streaming giant because it is available in more than 190 countries. The number speaks for itself! This platform has been around for more than two decades and during this period of time, it has kept on improving its service in every way possible. The content library is always filled with new films and TV shows of different genres and flavours.
Once browsing, viewers will be shell-shocked to see such a high number of titles that are available to watch anytime. Not only that, having features like a party watch, simultaneous connections and offline viewing, this service has strengthened its position in the industry like a true king.
Another great thing about Netflix is the frequency of content rolling out. There is a new movie or TV series premiering almost every week if not every second day. This is something that the OTT services launched by the broadcasting networks lack. The wait for new content is something that negatively affects customers.
Disney+ has also been shamed for this. Recently, no new MCU release by Disney+ did hurt their reputation and they were bashed by fans all over the world. To which, they responded very well by releasing two fresh MCU shows.
The heart of the matter
Cord-cutting is no longer just a trend but it has become a norm nowadays. It’s safe to say that OTT platforms have had a great impact on Cinemas and Linear TV and they are toppling the big broadcasters. The growth in the popularity of online streaming platforms during the pandemic is evidence that linear TV is now losing its place.
OTT is the future of things because, in this modern era of digitalisation, viewers do not have time to rely on cable TVs anymore. People spend more time on their mobile phones and laptops than in front of their TVs. This is why they want to have the ease that OTT platforms are providing.
The editorial unit