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We don’t need a fortune teller to predict the future of media consumption. The future is here–and it’s all about OTT streaming!

In 2019, the OTT market was worth $121.61 billion. It’s expected to grow to $1.039 trillion by 2027. Yes, that’s trillion with a T! Even more recent, there was a 115% increase in OTT streaming to TVs in one year between 2020 and 2021.

Now, what if we told you it’s possible to launch your own OTT channel independent of the big names like Netflix, Hulu, and Disney+? It’s totally doable, and it’s time to launch your OTT business! We break it down for you step-by-step–keep reading for five reasons you should switch to OTT services with Endavo!

What is OTT Business?

OTT, or over-the-top, content is the newest delivery method of film and TV content. It allows video consumption without traditional broadcast, cable, or satellite pay-TV providers. Streamers only need high-speed internet and a connected device to access OTT content.

OTT streaming platforms include Netflix, Disney+, Hulu, Amazon Prime, Peacock, and Pluto TV. You may be thinking, “where’s YouTube?” Unlike these OTT platforms, YouTube is a social video platform initially designed to allow everyday consumers to share moments caught on video. It doesn’t fall into the OTT category, and its rules can be limiting to creators.

Luckily, anyone can create their own OTT channel and switch to OTT services.

What does it mean to switch to OTT services?

If you’re on a traditional streaming platform like YouTube, it’s time to switch to OTT services. Transfer your video files, give your audience a heads up, and make your way over to the OTT business side.

When you switch to OTT services, keeping your fans in the loop is essential. Stay active on social media, and remind your viewers where to find you. They’ll be happy to follow you over to your OTT business with a new and exciting experience to look forward to.

5 Reasons to Switch to OTT Services

Besides being ahead of your competition, do you really need another reason to switch to OTT services? If you answered “yes,” we’ve got five other reasons to convenience you switch OTT outlooks for good.

1. An OTT business creates a permanent hub for your content.

You control your content, brand, user experience, audience monetization, and data with an OTT business. You have one singular place your fans can access your content library without distractions or competition. Customize your Endavo hub to look just the way you want, with personalized and professional branding, fonts, colors, etc.

2. You own your content in an OTT business. 

How often have you scrolled through the Terms and Conditions and agreed to them without reading them? You may have just signed away rights to your content or agreed to be at liberty of the platform’s censorship rules. Not with an OTT business.

When you switch to OTT services, you now have complete ownership of your content–and you make the rules. Ownership and control are major reasons to switch to OTT services.

3. OTT business supports monetization. 

OTT business gives creators more opportunities to make money. The switch to OTT services provides creators with the power to offer targeted advertising and gives them control over direct sponsorships. It also opens the door to enabling subscription-based services such as SVOD and TVOD.

OTT business platforms include new ways to monetize and earn more your way, such as crowdfunding, selling sponsorships, curating ad inventory, and selling subscriptions, pay-per-view, or rentals.

4. OTT business supports growth. 

Your fans are your own when you own your OTT business and OTT channel. You can interact with them in real-time and own the rights to market to them through ads, email, and social media. You have full access to data and analytics, which can help you create content around your target audience’s needs and give more insight into their demographics. You also control the user experience, which can make or break your reputation as a first-time viewer. When you control the show, you can effectively grow your fanbase the way you want to.

Plus, multi-channel networks encourage more audience growth with exposure to targeted audiences searching for content like yours. An OTT channel on Endavo opens a world of opportunity to aggregate content across distribution partners.

5. OTT business is the future of media consumption. 

Learn it now before it’s too late. OTT business is the future of video streaming and consumption. As more media companies switch to OTT services, it’s clear that OTT media is going to dominate the streaming marketplace in no time.

In fact, with an increasing number of Americans cutting the cord and millennials’ staggering preference for streaming media, there’s no better time to make the switch; OTT is still on the up and up!

How does the OTT business model work

There are three basic OTT business models:

  • AVOD (Advertising Video on Demand) is free for viewers, meaning viewers don’t pay any money to access the content. Instead of charging viewers, the AVOD service offers advertising space to companies before and during content. YouTube is an example of AVOD.
  • TVOD (Transactional Video on Demand) is the opposite of AVOD. In a TVOD model, viewers pay upfront for a piece of content and then usually have an ad-free experience thereafter. iTunes is an example of TVOD.
  • SVOD (Subscription Video on Demand) is a monthly or yearly subscription agreement that delivers content for a flat annual (or monthly) fee with no viewing limits. Netflix is an example of SVOD.

As you discover which OTT business model works best for you, you may find that your channel doesn’t fit just one OTT revenue model. With Endavo, you can create a build-your-own hybrid model that increases revenue and creates flexibility.

There’s no doubt you’ll step into the future ahead of the competition when you switch; OTT is growing rapidly, and you want to be at the forefront! To get started on your OTT business journey, sign up for a free 30-day, risk-free trial to see what OTT streaming is all about!