How OTT App Development Can Benefit Multiple Industries

OTT App Development

The extensive rise of OTT and related audio/video streaming services in the past few years has furnished many exciting and lucrative opportunities for many businesses across a myriad of industries. Fueled by accessibility, flexibility, scalability, and cost factors, OTT applications are being comprehensively used and embraced by a broad range of audiences. 

Nevertheless, the phenomenal increase in the number of OTT platforms around the world is mainly because of the increased accessibility of content, advances in technology, the qualitative streaming capacity of devices, and the availability of high-speed internet. For instance, OTT apps can efficaciously offer personalized content to millions of viewers by leveraging artificial intelligence solutions at the backend. While OTT app development has become one of the most sought-after trends in the media & entertainment sector, there are several other industries that are directly benefiting from its implications.

In this blog, we will discuss how OTT applications will change the face of various industries and how businesses and viewers alike can benefit from OTT platform development in the coming years.

Types of OTT Services

OTT has undoubtedly knocked on the doors of the personal as well as professional lives of millions of people across the globe. It is just that users have now started to notice the potential that it holds and the colossal role it plays in delivering immersive and engaging experiences and digital content. Some of the most widely used and accepted OTT services and platforms are mentioned as follows:

• Online video streaming – Netflix, Hulu, Vimeo, AppleTV, YouTube, etc
• Instant messaging via mobile devices – iMessage, Hike, WhatsApp
• Voice or video calls – Line, WeChat, Skype, etc
• Console gaming – Xbox360, Word of WarCraft

The Impact of OTT Apps on Global Markets & Industries

Whether it is healthcare, financial services, education, eCommerce, or any other sector, it is safe to say that today, nearly every industry has been preeminently touched by the impact of OTT in an irreversible way. Here are some of the top industries that are being steadily revolutionized with the use of OTT applications.

• Media & Entertainment

The media & entertainment industry covers television, radio, film, and print in general. The range of content that is delivered is extensively wide and includes podcasts, news bulletins, talk shows, movies, radio bulletins, and more. It only makes sense that such a humongous content-driven industry might depend on robust OTT platforms in order to reach a wider audience base. Sports, for instance, is also a good example when it comes to answering the question of how OTT applications will impact the media industry. Games and sports events can be live-streamed with minimal delays or can even be watched in the form of VOD or video-on-demand streaming models and replays. 

• Education

Another industry that has reaped a multitude of benefits from OTT solutions is the education sector. For instance, online courses leverage OTT platforms to host classroom supplements, tutorials, tips, and engaging study materials in the form of video-on-demand. These can be streamed and viewed at the student’s own convenience and are also available for posterity. Because of the COVID-19 pandemic, a lot of traditional schools, colleges, universities, and other educational institutions have started leveraging OTT platforms to host not just VOD content but also virtual classrooms, assignment centers, and exam halls, just to name a few. All of these can be seamlessly accessed via laptop, smartphone, smart TV, PC, or tablet having a stable and working internet connection. 

Also Read: How OTT Platforms Are Changing the Face of Entertainment And Media

• Health & Fitness

Health & fitness is one such industry that has meticulously boomed amid the pandemic, pushing many to work out in the comfort of their homes. While online fitness tutorials are not a new concept anymore, however, the overall experience of accessing the content on bigger screens is basically second to none. 

Moreover, the pandemic has caused many gyms as well as personal fitness trainers to seek solid remedies for their dwindling revenues. This is the prime reason why live streaming home workouts that are delivered on a subscription or pay-per-use basis are gaining more and more popularity. The trend also encapsulates OTT apps with engaging group wellness training and yoga classes which the participants can practice without even having to step out of their houses.

There are also many benefits of furnishing fitness classes over OTT applications such as:

• High-quality video streaming
• Advanced channel for sales
• Expanding the client base
• Deep insights and analytics

• Gaming

The popularity of game streaming over the years has drastically increased, leading many gamers to capture their live online gaming experiences and share their videos across multiple channels. Professional streamers have also architected a separate industry unto itself, amalgamating gameplay with engaging content and entertaining commentary. With that, some of them have managed to turn online video gaming and subsequent streaming into a viable source of revenue.

Furthermore, live streamers need the support of video streaming and OTT platforms to manage their audiences, display sponsored ads, keep track of channel analytics, accept donations, and more. Platforms like Twitch have incessantly made live video game streaming so popular that many smaller services such as Bigo Live, YouTube Gaming, Afreeca, Beam, Mixer, HitBox, or Disco Melee soon followed their steps.

Throughout these years, Twitch has successfully managed to become one of the most successful video streaming platforms, garnering more than 15 million daily active users watching the content on mobile devices, Apple TV, and Android TV devices – anywhere and anytime.

Looking For Video Streaming Services For Your Business?

At Oodles Technologies, we provide end-to-end audio and video streaming services to businesses across a multitude of industries. As an established video streaming and OTT platform development company, we cater to a wide range of business needs and empower our clients to transform their ideas into reality. With a team of seasoned professionals, we furnish multiple streaming application development solutions such as live-streaming apps, VOD apps, smart TV apps, cast-ready apps, live conferencing apps, and more. If you are looking for OTT or related video streaming services, feel free to drop us a line. Our experts will get back to you within 24 hours.