The OTT Gold Rush: Why launch The Stu & Laurie Entertainment OTT Apps?

The OTT gold rush is the current reaction to increased demand for OTT channels, like Netflix, where content creators are rushing to adopt OTT platforms at an affordable cost. This is happening because the entertainment industry is experiencing a lag between seeing what audiences are looking for and content outlets adapting to meet their needs.
It describes the period of time we’re in within the video-on-demand industry.
Think of this OTT gold rush like the old-west gold rush, where people grabbed their pickaxes and went in search of fortune (only, you can do it from your computer without camping near a creek). Entertainers like us are sitting in the gap between ‘early adopters’ and ‘mainstream boom.’ This makes starting an OTT service both a cost-effective and strategic business move that’ll give our brand a competitive edge.
It all started when content-driven media giants like:
● Apple
● Disney
● Netflix
● Warner Brothers

The OTT Gold Rush: Why launch The Stu & Laurie Entertainment OTT Apps?

As people started spending more time on their phones, the entertainment industry brought their content to audiences by developing OTT apps. Then the COVID-19 pandemic hit and accelerated the adoption and creation of OTT channels.
In fact, the average time spent per day on subscription OTT channels in the USA jumped 23% between 2019 and 2020 alone. Overall, view time of OTT subscriptions rose from 44 minutes in 2018, to 67 minutes in 2021.
Even more, research shows that:  
● OTT apps are already being used in 95% of countries.
● 78% of video streamed in the US is done on mobile and TV apps.
● Viewers watch around 30% more content when using an app.
This means that having an app will increase our reach and view time. There is a growing market out there that is app-focused and ready to start devouring new content. So, it’s important that people can watch our content wherever they want, like on their…
● phones
● smart TVs
● tablets
● streaming boxes (i.e. Roku, Amazon Fire TV)
Launching our own OTT apps before it becomes the norm means that we’ll have a competitive advantage.
Content outlets that choose to launch OTT apps are capitalizing on the fact that they’re not yet as common and “expected” as other kinds of apps out there, giving these video streaming businesses a strong added value to their service.
Being accessible from our own apps is a strategic business move that can:

● Improve customer engagement on social media.
● Increase revenue by 30%.
● Expand your reach: 45% more people were watching on-demand OTT channels in Q1 2021 compared to the year before.

Very soon, having an OTT app will be as common as having a regular website! But, the video streaming businesses that were ahead of the curve and rode the gold rush early on would already have a solid OTT marketing strategy and built a loyal, dedicated, and paying audience, under less competitive pressure