OTT (“over-the-top”) platforms are media services that bypass traditional content distribution channels (TV, radio, cable, etc.). Netflix, Disney+ and Hulu are examples of well-known OTT platforms.
But interest in this product category is trending mainly due to niche media brands launching their own streaming services.
These brands are increasingly choosing pre-built OTT platforms because they handle payments, membership levels, content recommendations, streaming and ad delivery.
OTT video remains the most popular type of OTT platforms. There will be approximately 3.28 billion OTT video users by the end of this year (up from 3.08 billion in 2021).
Other types of trending over-the-top platforms include OTT stories, OTT movies and OTT shows.
OTT platforms are part of the Personalized Content meta trend.
Searches for “personalized content” have increased by 83% over the last 24 months.
75% of consumers have tried a new shopping behavior in the past year, illustrating that consumer loyalty is up for grabs.
And content personalization is emerging as a way to both attract new customers and retain existing ones.
In fact, companies that personalize digital content see higher consumer repurchase rates (81% compared to 74% for companies that don’t personalize.)