Over the Top or OTT platforms have changed the way people use to consume content on regular basis. This development has come to stay in the market of entertainment and will continue to grow with time. It has turned into a regular habit for all entertainment seekers.
Although the traditional TV continues to grow along with OTT platforms, the viewing habit has moved towards OTT-only since it can be accessed anytime and everywhere with an internet connection. Studies have shown that any platform will get a great boost if one has good content, provides a great user experience, and pricing as per the quality of the content, then only there are chances that the user can subscribe to the platform.
Customer acquisition and retention is a challenge in itself for these OTT platforms, especially in a competitive market. Providing an attractive and memorable experience is among the deciding factor for the fate of the platform. Here Artificial Intelligence (AI) is quite efficient in making the platform a competent one by providing robust recommendations and discovery mechanism for the type of content the viewer want to watch. There are a number of benefits that AI provides and brings a more futuristic requirement fulfilled in just seconds.
Content Recommendation Engine
AI has a huge role in the seamless working of content recommendations over the OTT platforms. Have you thought of how all recommendations are according to the type of content you watch? This is all due to AI’s algorithm that you get a ready list of content depending on the type of content you watch. Netflix has been using AI to drive content recommendations for years now. It allows users in navigating easily and get relevant content thus it helps in decreasing the bounce rate.
AI adds a sensory capability to the platform that helps in detecting the viewing pattern. It is all done by recognizing how the viewer is consuming the content, at what time the viewer is consuming it, and how the consumers deviate from a particular content. With all this data, AI provides better recommendations to the viewers and keeps them stuck to the OTT platform. It also helps in running an artist-based recommendation, depending on your preferences of the actor, trends, and on their birth anniversary.
Helps In Getting Better Predictibilities
AI may also help in getting a better prediction about the success of the content and a better analysis of ROI for them. It could be possible by giving indicators to platform owners about a particular sort of content that can do better if released at a particular time and when is it going to get the crowd of visitors. It can also be used in getting several predictions of the analysis on the pricing of the platform, according to the type of content available.
There are several thoughts about hooking AI up on social media as well. It will help in sensing the sentiment about the upcoming shows or films and will also help in providing the pricing strategy for the particular content.
Helps In Content Analysis
It can help in analyzing content that could be used to get a better ROI from the content. It can also help in finding out what sort of content people like and what sort of changes they are adopting. All of it is done with the insight analysis of when the viewers are dropping and when they are staying. If there is some drop after the change in some or the other character, creators can make changes and act as per the requirements of the viewers.
AI will be a game-changer in the success of the OTT platform by driving all the data, predictions, and coming trends in the entertainment/OTT world. It is no longer an option, it has turned into an essential requirement in the present competitive world.
The best thing about AI being amalgamated with the OTT platforms is that it analyses the viewer’s data. Proper analysis of the data helps in bringing the best experience to the viewers. All this is made possible with the help of the history and behavioral analysis of the viewer. AI helps in bringing a personalized approach according to the needs and past preferences of the viewers. It helps in detecting all that is liked and unliked by the viewers. It just requires some metadata and history to get all this done. In all, it helps in attaining and retaining customers.
Whatever is visible on the OTT platform is metadata. All this metadata is quite beneficial for artificial intelligence. AI analyses every frame and according to that basis, it helps in channelizing the content in the future. AI helps in recommending the content according to the metadata it has received. It is all because of this metadata, the platform tries to get more and more time from the viewers. It understands and customizes content according to the regular behaviors of the viewers on the OTT platform. For instance, if you are all into watching scientific fiction, then you will get recommendations based according to that only. On the other hand, if you are more into comedy, it will be accordingly.
AI if used properly can do magic for the OTT platforms. But there are several negative sides to the coin as well. It can create hassle if the related data is misused. Here the platform owner and the regulatory bodies can frame certain standards for the security of the user data. Currently, it is used by content owners, aggregators, production houses, platform owners, and everyone in the business. With it, OTT businesses are getting an improved version of themselves and delivering a richer and more engaging experience.