What will democratization of OTT bring to your business

Without a question, the concept of OTT or Over-the-Top Videos are on-demand, and this demand has spread far beyond expectations during the pandemic. When we hear the word OTT platforms, we think of Netflix, Amazon Prime, Voot, and many more. OTT platforms have the goal of providing a joyful blend of entertainment and learning.

Global democratization of OTT platforms has been enabled by the proliferation of smartphones and rapidly expanding internet penetration. Entertainment is no more limited to offline modes because whatever information we want is just a click away and genuinely at our fingertips. OTT plays an important role in the education sector by transforming it digitally. Immersive video lectures, interactive quizzes, real-time knowledge exchange in the form of webinars, and other technology have helped the education sector transition from the physicality of classroom-based education delivery to a virtual one. OTT services will further transform entertainment and education by virtualizing the classroom, allowing students to learn at their own speed on any device, anytime, anywhere. Instead of utilizing local cable or satellite TV providers, companies may use an OTT platform to reach out to their consumers directly over the internet. OTT platforms are categorized based on the content they provide and their revenue strategies. With global OTT revenues predicted to reach $167 billion by 2025, it’s clear that OTT is the most effective way for businesses to gratify modern customers.

OTT platforms are classified into the following categories based on their content:

  • News
  • Entertainment
  • Sports 
  • Music 
  • Documentary/Movie 
  • Gaming
  • E-learning

3 major advantages of the OTT Platform:

Control – One of the most significant benefits of OTT is the level of control brands have over every aspect of their content delivery. Companies can simplify each component according to their needs, from content kind and quality to user experience, audience, revenue, and data.

Increased consumer involvement – Companies can immediately reach out to their audiences via an OTT platform. This creates an open-ended communication channel for users to provide rapid feedback, reviews, and ratings. This also provides OTT providers with unparalleled access to customer data, allowing them to offer more personalized services and advertisements.

Scalability — An OTT solution based on the cloud can be quickly deployed across different geographies. This broadens the audience as well as the revenue potential.

How to monetize OTT content in the Entertainment sector?

AVOD monetization — This strategy involves offering free material in exchange for paid commercials. AVOD monetization is well-exemplified by YouTube.

Subscription video on demand (SVOD) monetization — This is the most common model. Subscribers pay a monthly fee to view content through the OTT platform. As long as their membership is current, they can download and play. The top two examples in this area are Netflix and Amazon Prime Video.

TVOD monetization — TVOD, also known as pay-per-view, allows viewers to pay only for the material they watch. It is frequently used to commercialize sporting events, music, and movies. iTunes, Google Movies, and YouTube Movies all utilize this approach.

How to monetize OTT content in the educational sector?

The common VOD monetization strategies can be used to monetize educational video material. The following are the scenarios:

  1. TVOD: This is an excellent approach for students looking for individual courses or who like to learn at their speed. They can use this arrangement to pay for each of the courses they choose to attend. Udemy, Coursera, and other similar sites allow students to sign up for specific courses and have complete access to the content.
  1. SVOD: The popular learning app Byju’s, which includes thousands of hours of content, is a good example of SVOD in education. It gives you unlimited access to material for a low monthly fee.
  1. AVOD: Because of the prevalence of ad blockers, this VOD monetization technique is seen as inferior to both TVOD and SVOD. However, it’s crucial to note that Youtube is one of the most well-known AVOD instances and that people utilize it for educational purposes as well.
  1. Live Classrooms: Live Classrooms are yet another way to commercialize educational videos. Edtech businesses such as Byju’s, Unacademy, Toppr, Doubtbox, Vedantu, and others are developing live broadcasting of classrooms online as a potential strategy for monetizing video as mobile data plans become more affordable. According to KPMG and Google, the number of paid online education subscribers will likely surpass 9.6 million by 2021. Edtech companies aim to monetize this captive student base by giving live video subscriptions on their platforms.

Conclusion:

In the digital age, linear media services make way to interactive non-linear services. The education sector is well-positioned to profit from the booming OTT video content market. The unquenchable thirst for exceptional educational films will not be stifled anytime soon, according to several sources of market data. For educational video content owners, this makes monetizing educational videos a fantastic prospect. This tendency has also accelerated as a result of the ongoing COVID problem, as students and businesses around the world seek other OTT options to supplement their education.

HSC has been assisting content owners in not only managing their assets and metadata, but also in testing video material under various network conditions, gaining deeper insights into student viewing behaviors, and improving the viewing experience. We’ve worked on projects in the education and hospitality sectors that featured similar experiences, and we’d be delighted to help you expand your online education VOD business.

Mogi’s Proprietary Video Tech

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).

Contact us now to make your website load faster, rank Higher on SEO, and reduce bounce rates – susheel.srinivas@mogiio.com

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