The Emergence of OTT and Video Streaming Platforms In The Metaverse
Posted By : Priyansha Singh | 26-Aug-2022
Metaverse-Ready OTT and Video Streaming Platforms
The continuous evolution of social media platforms, smartphones, and on-demand video streaming services have propelled both physical and virtual worlds to come closer and be more interconnected. The internet is no longer something that we can occasionally opt for. Rather, it has become a routine part of our everyday lives for entertainment, work, news, and socialization.
Thanks to the exponential progression of enabling technologies such as artificial intelligence, edge computing, high-speed networks, photo-realistic rendering, sensors & simulations, and more. It has not only fuelled the emergence of advanced video streaming experiences but has also enabled a plethora of OTT service providers to bring their presence to an infinite digital reality space – the metaverse.
The swift transition from legacy to OTT TV services and further to metaverse TV has spawned an outpouring of immersive and highly-interactive use cases such as the inevitable entrance of XR devices and latency-free viewing. In this blog, we will elucidate the significance of OTT and video streaming platforms in the metaverse and how it is substantially transfiguring the overall streaming experiences of users. So, let’s get started.
Unlocking New Digital Frontiers in The Metaverse With Live Streaming, Social Media, Gaming, and OTT Platforms
Live streaming, games, social media platforms, and the metaverse are all together driving viewers away from linear TV viewing experiences.
For instance, let’s consider social media platforms where short-form videos have gained optimum dominance. This type of video content has taken up more than what conventional TV has to offer and entertains as much, if not more than the coveted OTT platforms.
Similarly, live video streaming platforms have also become one of the most sought-after entertainment preferences amid the pandemic. For instance, Twitch – Amazon’s largest live streaming platform has witnessed a tremendous increase in viewing hours in the past couple of years. Following this, a majority of social media platforms have also integrated such features as Facebook Live, YouTube Live, Instagram Live, and more.
Enter The Metaverse: With limitless technical innovations in both the fields of video streaming as well as intuitive OTT platforms, new customer demand for the immersive metaverse is swiftly brewing. While this technology is still in its nascent stages, one thing is certain: for present-day users, the meaning of ‘entertainment’ is entirely different. For them, entertainment is incessantly interactive, social, and personalized – bringing real-world characteristics and experiences closer to the digital world.
Moreover, social media, as well as social gaming, has already started to resemble the metaverse much more than conventional video streaming itself, where users increasingly want to interact with digital media content and personalize their experiences.
This trend, altogether, is also reflected in the rising entertainment market share of the gaming industry, thereby incentivizing tech giants to embrace the change and invest in this sector. For instance, Microsoft signed an agreement with Activision Blizzard and Sony went ahead and bought Bungie. Furthermore, Netflix has also entered the gaming space, furnishing new video game exclusives as well as interactive multimedia content alongside its ‘TV-like’ digital content.
Considering the television and linear content segment, the boom of VOD solutions has enabled businesses and users alike to accept its widespread potential and viewing opportunities.
The Future Version of Shared Digital Viewing Experiences
Let us consider the remarkable contrast between what can be done using interactive real-time video infrastructure and the latest approaches to audience engagement. It can be done through live-streamed concerts, game shows, sports, and other content. Lately, there has also been a flurry of video-based watch party initiatives that are further supported by the likes of Amazon, Hulu, Facebook, Sling TV, HBO Max, and more.
With so much capital being marshaled by new and established mega companies across the globe to bring the metaverse to life, younger generations have now already titled towards that future. They are also being continually supported by progressive innovations in the field of social media, social gaming, and immersive multimedia content by video streaming service providers.
As of now, OTT and video streaming services have a lot of potential and room to grow as theatrical experiences continue to enthrall and engage global audiences. However, as streamers spend to chase the ever-rising and fickle subscribers across the global marketspaces, they are also parallelly expanding their portfolios and capabilities to better serve the new-age generation and to meet their demands pertaining to the ultra-realistic metaverse experiences.
Ultimately, the media and entertainment executives, especially the OTT and video streaming service providers are now thinking hard about how people interact, engage, and socialize around entertainment and how entertainment itself is becoming more and more social, immersive, and interactive in the virtual world – the metaverse.
Looking For Video Streaming Solutions In The Metaverse?
At Oodles Technologies, we offer all-inclusive video streaming and OTT app development solutions for businesses across a myriad of industries. As an established video streaming platform development company, we provide in-depth technical assistance and support in accordance with related project demands and requirements. Over the years, we have gained extensive knowledge of next-gen technologies and video streaming platforms such as HTML5, Wowza, Kaltura, Red5, Roku, Tizen, Kotlin, BrightScript, WebOS, Swift, tvOS, and more. Our development team also has hands-on expertise in OTT and VOD app development for the expansive metaverses, enabling businesses to seamlessly navigate the new-age digital streaming requirements in virtual worlds. We assist enterprises in overcoming the challenges pertaining to traditional TV viewing and help them to embrace and integrate futuristic technologies into their streaming applications for profound operational benefits. If you are looking for comprehensive video streaming solutions and OTT app development services for your business that is metaverse-ready, feel free to drop us a line. Our experts will get back to you within 24 hours.