In the last few years, India has witnessed an increasing growth in the number of smartphone users owing to easy access to high-speed internet. This has extended the potential market for the over-the-top (OTT) media platforms. OTT content providers are now all set to exploit new opportunities as more and more people switch to online channels. But, ever wondered what happens at the backend of your OTT player every time you hit the play button to watch your desired content whenever, wherever, and on whichever device you want?
Streaming tech, in all its complex glory, is constantly evolving. The focus in OTT technology is not restricted to simply getting the content to the viewers anymore. OTT media companies have realized the changing interests of viewers and understanding their inclinations, thereafter designing their previews in accordance, are the key components for triumph.
Behind the smooth content delivery on OTT platforms lies a superfast and smart technological production, starring encryption, cloud, compression, CDN (content delivery network) and decoding. An analytics engine is used in an OTT platform to get a 360-degree view of client behaviors. This analytics data is further used by a recommendation engine to provide the consumers with personalized experiences.
Several streaming platforms, internationally and in India, are investing heavily in technology to enhance user’s viewing experience. OTT video providers and mobile network operators are collaborating to decode the complex behavioral and consumption patterns of the modern-day online content users, thereby reshaping the streaming landscape in the country.
With OTT content fast emerging as the foremost medium of entertainment, OTT streaming space has become a far more crowded ecosystem than it was a few years ago. The role of data is rapidly transforming from being important to becoming vital. Adroit utilization of data has become critical for the success of the OTT players.
Extensive deployment of technologies, such as artificial intelligence (AI), machine learning (ML), and automation is the key to effective application of the available data. An operative combination of these nascent technologies enables OTT platform players to achieve the best outcomes with algorithms.
Amidst great content and extensive marketing, the technology behind the OTT platforms is the underdog that ensures a transcendent consumer experience. Both big and small players, are all out to use AI to maximize their revenues. AI allows marketers to identify their consumers and recognize their needs. By knowing a viewer’s interests, marketers raid into the region of personalization and there begins the concept of branding.
There is no doubt that personalization of content is the way forward in this competitive industry. Gathering insights from the large amount of data captured by OTT providers from every part of the OTT ecosystem is of high priority. This allows the OTT providers to use this data to understand what content to buy, which clienteles are more likely to churn, how to present the content, and which ads to serve to viewers, who match the demographic profile the advertiser is seeking.
In simpler words, the more the viewer receives recommendations that are specific to them, the more likely it is that they will relate to the content. Based on the consumer’s online navigation, the OTT service providers acquire the data on which to base these recommendations, which are analyzed to be able to effectively make the experience meaningful to the viewer.
Undoubtedly, the OTT model would continue to change the value chain of content creation and distribution. And, with evolving technology trends in the OTT market, some players would grasp fresh opportunities to evolve their businesses, while agile ecosystem partners will join them in this pursuit.