OTT streaming platforms are changing with every technological development. Streaming platforms are getting their pace and growing every day and showing their presence everywhere possible. With all the development and acceptance of OTT streaming platforms by the larger audience, these platforms are increasingly being used instead of TVs, radios, and other traditional modes of entertainment.
Arrival Direct-To-Consumer Model
Technology has enabled brands and companies to connect directly with their respective audience and provide them with a personalized experience. It has also brought several monetization opportunities to creators and operators through advertising and so on. Direct-to-consumer (D2C) offers an ability to understand and analyze the interests and inclinations of the viewers.
Use Of Latest Technology
The explosion of the OTT streaming platforms with the full utilization of AI, SaaS, and cloud-based content delivery including others helps in creating an exceptional experience. These developments in streaming technology provide a fast, secure, reliable, and scalable solution for the OTT streaming platforms. AI is helping it to give a pace to every work and provide a quality experience to the end users while SaaS and cloud ensure quick and cost-effective delivery of the content.
Speed Of The Streaming Platform Matters
One of the issues that the streaming industry is facing is the issue of latency. It does not bring a negative experience to the viewers but also puts you down in the competition. A study by Akamai shows that a 100-millisecond delay can hurt the conversion rate by 7 percent. Information released by Google shows that latency can severely affect the user experience. If there is a latency of 1 second to 3 seconds then the bounce rate increases by 32% while if it is of 1 second to 10 seconds bounce rate increases to 123%.
All this presents the importance of the speed of the streaming solution. If the solution is too slow and brings a negative user experience, this can lead to user churn. As noted by Google, it is best to deliver the content in under 3 seconds.
In short, viewers are looking for a quality experience, and if there is any lag, there is a possibility that viewers might switch the platform.
All in all, OTT streaming platforms are gaining popularity yet there are many challenges in the field that let the platform stand back in the competition of streaming. With these platforms and technological developments in the field, it is indispensable to get a regular improvement of your platform.