Do You Find Yourself Worried About What Business Your Next Gen Will Do?
As the younger generation treads the entrepreneurial path, there are considerable changes taking place in the world of business. Young minds are coming up with innovative ideas, and the ideas are being transformed into high-profit businesses.
To put it simply, the business landscape is pleasant right now, which gets us all thinking, “Can the future get any better for businesses?”
A lot of people even find themselves worried about their following generations’ business choices. “Will business ideas and their execution be as concrete in the future as they are now? Will the future generations do things right?”
Well, to be honest, these worries hold no water. The future is only going to get better for entrepreneurs. And one big reason for this is the booming creator’s economy. The creator’s economy represents the class of businesses run by independent content creators.
The emergence of the creator economy has been one of the most apparent transformations in society over the years. Sure, there have always been creative people who have pursued their passions. However, only a few were able to make a living from their creativity in the past— just a few were able to become well-known enough to work as highly paid professional writers, actors, performers, and other creative professionals. We are Free ott platform provider in India
However, times have changed now—thanks to the opportunities made available by social media and the World Wide Web, there are many more methods for creative people to make a living.
The internet has decentralized the media. There are hundreds of different types of enjoyable content. Besides, the content is no longer owned by a handful of big companies.
Much of the content is, in fact, written, photographed, or filmed by routine people like us. New payment systems and ways to make money have also been invented, making the entire process of making money through content creation more manageable and realistic.
Many felt, that COVID-19’s arrival in early 2020 would threaten and undermine the process, but it strengthened it instead. Due to a mix of factors like lockdowns and worsening unemployment, creators were looking for new ways to make a living, while users had more time to browse for content to fill in their extended spare hours.
The situation now is such that a lot of creative people are making money doing something they are passionate about.
It might have started off as a pastime, and it would have stayed that way in the past. However, today’s content creators have discovered that they can make their hobby profitable enough to earn a stable livelihood from it. And that is what they are entirely focused on.
Although creators still use free video-sharing platforms like YouTube, most have realized that the earnings can simply compound with a dedicated OTT app. This has led to creators wanting to launch their own OTT platforms. Since creators are going to be an extremely important component of our economy in the coming times, it is clear that we will have far more OTT platforms than we have today.
According to a report, 50% of global households that use a Wi-Fi connection consume content over OTT platforms for up to 200 minutes per day. This indicates that traditional TV is no longer the only content delivery medium for people. In fact, more people have begun to use their internet-enabled devices to watch various content through OTT apps.
As discussed above, this has produced an amazing business opportunity for creators. Interestingly, independent content creators have been quick in not just seeing this opportunity but also seizing it. Most content creators now have their own OTT services and are becoming the “Netflix” of the content creation industry.
Also, with so many service providers making OTT app development easier and more cost-effective, this trend is expectedly to an upward move. OTT services are a boon for content creators as they allow them to build profitable business around their video and audio content. A lot of these creators are earning hefty money and witnessing their customer base multiply with time. OTT apps have made it possible for content creators to create highly tailored content matched to the taste of their audience and deliver it on an easily accessible platform, without making any compromises with profit or creativity.
OTTs are transforming the online business scene: Here is how
OTT services have definitely brought about a kind of revolution for content creators. These services are especially beneficial for creators whose main focus is on video making.
Having an OTT app means having a standalone platform with no interference from third-party hosts like YouTube. This simply means that content creators have full control over what content they create and how they generate income with it. They can fix their prices and charge as per their requirement or popularity. The best thing about OTT services is that content creators don’t need to comply with any advertiser guidelines.
Having your own OTT app is much simpler than having your own website.
Benefits of having an OTT app
Having an OTT app can provide content creators with a consistent and stable income. The videos these creators conceptualize and bring to life are not just videos, they are products that can be subscribed to. If the content quality is great and has got relevance then the produced videos or audios can generate substantial income for their creators.
As you go on creating more content tailored to the needs of your audience, you will not just earn a higher amount of money, but will also reach a larger audience.
No matter what kind of content you produce—typical OTT-style entertainment or online courses, you can serve it to your audience right where they are. They can access it from any internet-enabled device right from the comfort of their home.
Also, having an OTT platform doesn’t mean you can’t be on a free video-sharing platform like YouTube. You can be everywhere you feel would benefit you in some way.
Are OTTs a passing fad or are they here to stay?
So far we have discussed how valuable and in-demand OTT services are and how critical they are in helping content creators grow their businesses. All this can make you think that OTTs are too good to be true.
Well, we don’t blame you. If you are new to the content creation industry or the OTT world, then a little bit of fear or apprehension is natural. But let us allay your concerns by telling you that OTT is here to stay. Why do we say so? Because streaming has become a staple not just for the younger population but also for older people who know how to operate their phones. And as their popularity grows, OTTs will have more widespread adoption.
People’s need for OTT services is never going to go away because of how versatile they are and what they bring to the table. Thus, as a content creator, your popularity will only rise with time as future generations become a part of your target audience.
However, one thing that needs to be kept in mind is that content creation, like any other business, demands a lot of hard work. And success in this domain involves extensive trial and error and some elbow grease. Your focus should be on creating content that your audience will always love and want more of.
You will also have to market yourself and reach out to your audience so that they know that you exist as a brand and will be of value to them in some way. Take the right steps, and you will walk far in this direction.
Mogi’s Proprietary Video Tech & White Label OTT
Mogi’s Video Tech solutions are available end-to-end (Video Transcoding + Video Player + Mogi Streaming Engine (Multi-CDN delivery) + DRM + Video Analytics) or you can use individual products from the entire suite like just the Video Transcoding. Mogi also provides white-label end-to-end plug n play solutions for OTT and Edtech Platforms, with Web, Android and iOS apps as well as a dedicated CMS for OTT and LMS for EdTech.
One of the best individual products we have is our Transcoding Architecture, which is a unique cluster-based process, does the transcoding within 30% of the content length. The transcoding architecture’s result includes a highly compressed video of up to 50% with no loss in quality, and if you choose quality enhancement, a 40% compression with the enhanced video quality.
The pricing for Transcoding is very competitive as well, and along with it you get a highly compressed output with the same or higher quality. This means not only is your contractual pricing is low due to competitive pricing, but your bandwidth consumption also reduces, and user experiences increase multifold. It’s a win-win for all of us (Users, Clients, Mogi).