In today’s digital age, more and more consumers opt for over-the-top (OTT) services rather than traditional cable or satellite TV. OTT refers to an app or service that delivers content (audio, visual, etc.) over the internet. Popular examples include Netflix, HBO Go, and Roku.
OTT consumption is on the rise largely because of unhappy pay-TV customers. 73% feel cable companies are predators and take advantage of the lack of pay-tv choices available and 53% would leave providers if they had a chance. The combination of unhappiness with pay-tv companies and variety of viewing choices with OTT services results in pay-TV’s dropping market share. 20 years ago, cable TV owned 98% of the market share – a number that has been nearly cut in half today.
While OTT subscribers make up the smallest percentage of the market today, that number is predicted to skyrocket in the next five years. Customers prefer OTT services for a variety of reasons, particularly because of the number of pricing and viewing options offered. They are no longer bound to stingy, pricey contracts with limited options to choose from.
The market and consumers alike are becoming more familiar with OTT content and services. We created an infographic on the rise of OTT, detailing the current market and future opportunities. Check out the infographic and learn:
Success in today’s digital age requires agility, innovation, and an emphasis on customer satisfaction. With OTT’s ability to quickly offer a variety of services to customers whenever they want on their preferred devices, it’s safe to say this market will easily meet, or exceed, the staggering predictions of 2019.
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