14 Reasons Why Your Media & Entertainment Business Needs an OTT Solution

Welcome to the wild world of OTT, or "Over-the-Top" solutions for streaming content. Here's a lowdown on why every media business needs an OTT solution in today's digital landscape.
October 15, 2023
Minutes Read

Welcome to the wild world of OTT, or "Over-the-Top" solutions for streaming content. If you're in the media & entertainment industry, you've probably heard about OTT and how it's changing the game for content creators and distributors.

But it can get tough to decide if OTT is the right choice for you, especially if you have a unique use case or are baffled by the sheer options out there. That's where we step in!

As a leading OTT solutions provider, Teyuto is here to give you the lowdown on why every media business needs an OTT solution in today's digital landscape. So, grab your popcorn and get ready to stream your way to success with these 14 reasons. Let’s begin!

Reasons Why You Need an OTT Solution

OTT solutions have become vital for any modern media company wanting to keep up with consumer demand and remain competitive.

But if you're still on the fence, here are 14 reasons why every media business needs an OTT solution today:

Reason #1: Take your content global (no passport required)

As a content creator or broadcaster, you know that traditional distribution methods can only take you so far. But with an OTT solution, the world is your oyster.

No longer are you limited to just your local audience or the constraints of cable packages. With the ability to stream to any device with internet access, your content can reach a global audience without expensive international distribution deals.

Just look at the success of global streaming giants like Netflix and Hulu, which have subscribers in 190 countries and counting. By implementing an OTT solution, you can join the ranks of these industry titans and take your content to a worldwide audience.

Reason #2: Enhance customer engagement with interactive features

Streaming services are no longer just about watching content. They now offer a wide range of interactive and immersive features that change the way people experience media.

An OTT solution allows you to engage your audience in ways that traditional TV can't. Options include:

·       Real-time chat functionality

·       Multi-angle viewing (e.g., observing a basketball game from multiple angles)

·       User-generated content (UGC) aggregation and curation (e.g., live music video competition at concert events)

·       Real-time polls & quizzes (e.g., voting for your favorite American Idol contestant on the American Idol app)

And more!

By engaging audiences with these interactive features, you can build a community of loyal fans that will keep coming back to watch your content on an OTT platform again and again.

Reason #3: Fulfill the need for immediacy & accessibility

Today, consumers want everything right away. And this includes their content. After all, how many times have you heard someone say “What? You’re not caught up on Stranger Things yet??

If your OTT platform doesn't allow viewers to watch episodes immediately after they air or create an easy way to catch up with past seasons, they'll just go somewhere else that does. By implementing an OTT solution, you can ensure that people can access and enjoy your content whenever and wherever they are (as long as there's Wi-Fi, of course).

Reason #4: Increase brand visibility and loyalty

In media & entertainment, you're constantly vying for attention. So, how do you stand out in an oversaturated market?

One way to offer exclusive content on your OTT platform. This could include anything from live streams of sports games and concerts to original web series, documentaries, and more. By giving exclusive access to premium content that people can't get anywhere else, buzz around your brand is going to be a lot different. You cannot do this via conventional broadcasting channels. Strengthened customer loyalty is another add-on.

When it comes to branding, you’ve also got to make sure that everything is on point. Have you noticed that Netflix, Hulu, Prime Video, and other major OTT platforms have branded video players with their own watermarks? Yes, you can make wonders happen by having such small branding nuances covered in your white-label OTT platform.

It's also worth mentioning that unique features like free trials or short preview clips will encourage people to sign up as subscribers so they don't miss out on any action!

Reason #5: Target audiences with personalized experiences

Forget cable packages and their one-size-fits-all approach! OTT solutions are where it's at. And the real cherry on top? Personalized experiences.

Imagine being able to target niche markets and audiences with your content. Sounds like a dream? Well, it's a reality with OTT solutions. Just take Netflix for example. It analyzes an individual's viewing habits and makes personalized recommendations based on their interests.

The best part? You can do this too! By using your OTT solution to segment audience data like demographics and viewing patterns, you can create specific experiences tailored to each audience segment. It's like a win-win situation - you expand your reach into new niches while providing a superior personalization experience to your viewers. So, get personal! Make your media strategy quirky.

Reason #6: Turn your viewers into super fans with exclusive content

Want to turn your viewers into a group of loyal super fans? Then an OTT solution is just what you need! Using it, you can offer exclusive content they can't get anywhere else. It can build loyalty and a sense of exclusivity among your audience. This content could be anything from behind-the-scenes footage to early access to new releases. And let's not forget about those special discounts on your offerings: who wouldn't want to be a part of that?

Remember, it's not just about building loyalty. By incorporating product placement and sponsored content in a more seamless and natural way, you enhance brand visibility and drive more sales as well. Don't settle for a casual fan base when you can have a group of die-hard supporters. Watch your audience become super fans in no time.

Reason #7: Create a more personalized advertising experience for viewers and advertisers alike

As an advertiser, you want to reach the right audience with your message at just the right time. But how do you know when that is? With traditional TV commercials, it's hard to tell if someone was actually watching or not (and whether they're even interested in what's being advertised).

However, OTT solutions change the advertising game altogether. They make it possible for brands to target specific segments of viewers who are receptive to their messaging, all while providing users with relevant ads tailored directly toward their interests! You, in turn, get more bang for your buck with every ad played.

And don't worry; there won't be any unskippable ad breaks during shows (if you want it to be so.) OTT solution providers like Teyuto allow you to place pre-rolls, post-roll, and mid-roll ads in episodes. So, you can customize your user experience the way you want it to!

Reason #8: Reduce churn with free trials, promo codes, and more!

OTT solutions can also help reduce churn or the cancellation rate of subscriptions. This is done by offering free trials that allow consumers to test drive before signing up as paying subscribers.

Promo codes are another way brands like yours can use an OTT platform - they give customers incentives such as discounts on products/services when they enter a promotional code at checkout, which encourages them not only to try out your offering but also to return in the future!

Reason #9: Increase revenue with Transactional VoD (TVoD) options and ad space

If you want to know how much money streaming services make, just look at the numbers. In 2022 alone, it's estimated that OTT video generated $275.30 billion in revenue. In this revenue pie, the largest segment turned out to be OTT Video Advertising with a market volume of $180.40 billion.

That's a lot of dough. And you can get in on the action too by offering TVoD options and advertising space to OTT subscribers with an OTT platform. With this, people will be able to access content anytime they want without having to spend any extra money upfront - which means more revenue for your business!

Reason #10: Streamline your distribution process and save some cash

Let's face it, the traditional distribution process can be a real drain on your resources.

But with an OTT solution, you can streamline the process and save some cash in the process. How? By eliminating the need for traditional distribution channels. No more purchasing airtime, renting satellite or cable transmission equipment, and paying for distribution rights eating into your profits.

Plus, with the ability to update and change the content in real-time, you can stay agile and responsive to changing consumer preferences and trends. So why spend extra on distribution when you can streamline the process with an OTT solution?

Reason #11: Build your brand: Intuitive user interface, seamless content aggregation, & more

When it comes to entertainment, people want what they want, and they want it quick! An OTT solution equips you with a sleek design and easy navigation.

You can offer an intuitive UI/UX experience that makes browsing through thousands of titles as simple as tapping on a screen or clicking the remote control. What’s trending, what people with similar interests are viewing, cataloging, and whatnot empowers your viewers with precisely that!

In addition, OTT solutions also allow you to come up with unique solutions. Just think about how much easier your life would be if Netflix could pull up all of HBO's shows on demand! Or, if social media platforms like Twitter and Facebook were able to stream live events simultaneously as they happen around the world (which is already happening).

By implementing an OTT solution with content aggregation capabilities, you can build a more seamless experience for viewers while growing your brand.

Reason #12: Increase your customer satisfaction and retention rates

As the saying goes, happy customers are repeat customers. When it comes to building successful businesses in today's digital landscape, customer satisfaction plays a huge role.

In fact, as per a Gartner study, it is the main competition area for 81% of marketers. And luckily enough, OTT solutions can help you achieve this.

By offering intuitive UI/UX design, rich media experiences (like real-time chat functionality), in-video polls & surveys, curated videos & personalized recommendations, emails & push notifications, cross-sells and up-sells, and detailed analytics (including viewing patterns & abandoned carts), you can ensure that your customer satisfaction is always leading-edge.

Reason #13: Stay ahead of industry trends and future-proof your business

In media & entertainment, content is king. But what if there's a way to extend the shelf life of your content and future-proof your business?

That's exactly where OTT solutions like Teyuto and their customized solutions backed by R&D come in! They allow you to not only provide new forms of engaging experiences but also stay on top of industry trends. So when it comes time for an industry overhaul, which will inevitably happen, you'll be ready with an updated product offering from day one!

Reason #14: Reach underserved audiences (and more) by going beyond traditional broadcasting channels

Did you know that the average TV viewer of even an avant-garde broadcast television network like The CW is aged 58 years? Yes, there's an entire audience you're missing out on with linear TV - and they just might be your target demographic!

Don't get stuck with traditional broadcasting channels. An OTT solution allows you to reach audiences like young adults and millennials, who are more likely to cut the cord altogether than their parents' generation or stay tuned for long hours every day.

It also opens up new revenue streams by allowing companies like yours to take advantage of untapped markets around the world.

What are you waiting for then? Reach these audiences today!

The Bottom Line: How Teyuto Can Help You Build Your Own Customized OTT Solution Today!

By now, it's clear that streaming services are vital to media businesses. And Teyuto is here to help you make the move from traditional broadcasting channels into this digital landscape!

Teyuto's white-labeled OTT solution offers everything you need for a seamless streaming experience that keeps viewers engaged and coming back again (and again). What’s best is that you don’t need to write a single line of code or care about licensing a streaming protocol at all. You can even build an OTT channel, having cloud video storage and delivery, using its simple drag-and-drop builder.

The possibilities are truly endless with Teyuto’s customizable solutions.

Create your video world with Teyuto and be the next entertainment giant of tomorrow. Contact us for queries or give a shot at our ongoing free trial now!

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Marcello Violini
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