A Comprehensive list of industries that could benefit from Mobile & TV Apps
OTT- the contemporary content delivery service has redefined the tenets of digital consumption by diverting traditional distribution practices through the hi-speed internet revolution.
OTT platforms have found a new expression in the form of apps that bring high-quality content streaming at the fingertip when connected to a smart device. This futuristic OTT model is headlining the entertainment industry as with rising competition; its market seems to register a whopping growth of all times.
According to the Over the Top (OTT) Market- Growth, Trends, COVID-19 Impact and Forecasts (2021-2026) report, The OTT Market was valued at USD 101.42 Billion in 2020 and is expected to reach USD 223.07 Billion by 2026, registering a CAGR of 13.87%, during the period of five years.
This looks promising as the revenue structure from OTTs is concerned with more subscriptions, advertisements, and views on demand.
Which OTT Apps to launch first?
It is important to evaluate certain factors before the OTT app development. Start by considering if the mass of your target audience has the required device you are planning the launch of your OTT business in. The next thing to consider would be the location in the world where you are basing your launch in.
A lowdown on the devices your target audience tends to use the most suggests that more people prefer streaming content using apps run on mobile and TV than in web browsers. Mobiles and tablets are compact portable devices easily connected with WiFi and optimized for apps whereas TVs enable you to consume content comfortably.
- OTT Apps for Mobile Phones and Tablets:
In the U.S, almost 58% of the user market inched towards an iOS operating system while the rest opted for Android devices. Some of the apps which are compatible with both the OS are Netflix, Amazon Prime Video, Disney + Hotstar all of which are downloadable on Google Play. These mobile apps allow specific location tagging in the devices.
Even though iOS enjoys the largest market penetration in English-speaking markets, it is the Android mobile apps that have the most reach globally and especially in non-English markets.
- OTT Apps for TV
There is a list of OTT Apps for TV as well. TV apps disseminate content like entertainment, kids’ content, fitness, yoga, choreography, etc. Some of these apps are- Roku, Apple TV, Android TV, Amazon Fire TV, tvOS, etc. Among these Roku especially enjoys wide popularity.
Industries That Should have Mobile & Smart TV Apps
- Educational Organization: Modern education when digitized reaches more students at once. Dedicated OTT apps can help distribute the relevant information and live. Stream sports, theatre, and debates to a wider audience who wants to expand their knowledge base on the go. Papers and journals can also be exchanged via the online medium among the senior students and researchers while talks and panel discussions from around the nation can also be attended.
- Religious Industry: Religious groups and charitable organizations in OTT apps include streaming of materials such as prayer groups, events organized with religious leaders, various counseling services, and collaborative sessions to give structure to your thoughts and put your mind at ease.
- Sports: Sports and fitness industry can benefit from mobile apps which offer tips and techniques for perfecting a stroke, posture, and how to optimize and maintain A-grade performance. Backed with test scores on individual development, this could give sports enthusiasts a motivational push.
- Broadcasting Industry: Smart TV app is fast replacing cable-driven television sets for their delivery of favorite shows and video-on-demand at a breakneck speed and collaboration with big brands for innovative content.
- Film Makers: From classic movie genres to action-packed thrillers to experimental indie versions, OTT apps is a film-maker’s paradise in the modern age which also invites handsome revenues to fund more interesting features.
- Car Dealerships: With an OTT app, car dealerships will be able to exhibit the latest models and designs and inspire more buyers with updated information on deals and stock.
- Co-working spaces: Through a mobile OTT app, community information can be spread which can further help in event management and pass on daily updates on regular community services or special camps on weekends.
- Tourism Boards: A mobile and OTT app enables easy tie-ups with local traders and their businesses that may attract more travelers and help them with maps, site-seeing, and a roundup on important events.
- Event Management companies: A mobile or an OTT app is a great way to organize and direct events online or offline and secure its lineup with ticketing info, attendance, and participation.
- Alumni Associations: Be it planning a reunion or distributing magazines, brochures, yearbooks, or arranging donation drives, a mobile app is a great way to keep alumni associations active.
- Brands: A mobile app is a great way to leverage brand inventory and engage users. But besides that, it is also used to further connect with potential product buyers through strategized content to boost sales.
- Yoga Studios: An OTT or mobile app can be utilized to live stream or broadcast pre-recorded yoga and exercise sessions from professional studios. This can be complemented with recipe tips, music therapy, and bonding opportunities with other trainees, all of which can factor in driving revenues.
- Hotels: An OTT app connected to hotel operations makes you savvy with information on room, food, and other essential services. It also helps you rate and review staff quality and share experiences of your stay period.
The features of OTT apps may vary owing to different monetization strategies. Research and learn about various OTT platform providers to know what works best for launching your business model and help finance its growth. You can either hire an app developer or lease an app from the provider according to what best suits your business.