They say hindsight’s 20/20.
But what about foresight?
What if you could clearly see an opportunity to grow your video business right before the window of opportunity closes?
Well, the video streaming industry is currently reaping the rewards of one very lucrative window of opportunity-a phenomenon we are calling the “OTT digital gold rush”.
This OTT digital gold rush is giving content creators an affordable and innovative way to connect with their audience, share their content, widen their reach, and provide more value to VOD users.
The OTT Digital Gold Rush – What it is and why now is the time to join it.
If you’ve never heard of the OTT digital gold rush, don’t worry–it’s a term that we coined.
The OTT digital gold rush refers to the current period of time in the OTT industry.
We are sitting in a gap between “early adopters” and the “mainstream boom”; it’s a small window of opportunity where content creators can affordably start their own OTT TV and mobile apps for big gains.
It’s a little 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 and don’t need to camp near a creek).
The gold rush started when content-driven companies like:
Began developing their own OTT services to share original content with their audiences.
When companies like these all make a move on a new industry, you know it can’t be by chance. And when you look at the industry research you can see that it wasn’t.
Research on OTT apps shows that over 50% of WiFi connected homes are already using OTT services for up to 100 minutes each day.
And this usage is fuelling an unprecedented level of growth, meaning that by the end of 2020 the industry will be worth 315% more than it was in 2017, with an estimated value of $83.4 billion.
Our analysis of 1.1 million OTT subscribers also shows the potential audience is worldwide and heavily interested in using OTT apps to consume content.
We found that:
- OTT apps are already being used in 95% of countries
- Views on mobile and TV streaming apps are just about to eclipse desktop views
- Viewers watch around 30% more content when using an app
There is a growing market out there that is app-focused and ready to start devouring new content.
But all of this begs the question:
If big companies like Apple and Disney have already moved into the industry, isn’t it too late for small- and medium-sized content creators like yourself?
Well, that brings us the second element of this article, explaining why we’re now in this gold rush.
The Sweet Spot
One of the key parts of this gold rush is that we have now reached what we are calling the “sweet spot” for OTT app creation.
It exists right where competitive edge and cost effectiveness meet.
Video streaming businesses that choose to launch OTT apps are capitalizing on the fact that they’re not yet as ubiquitous and “expected” as other kinds of apps out there.
This gives VOD businesses that have OTT apps a strong competitive edge and added value, offering their users more ways to consume their content than just on a website.
Very soon, having an OTT app will be as common as a regular website. But the VOD businesses that were ahead of the curve and rode the gold rush early on will have already built a loyal and dedicated paying audience.
The increase in demand for OTT apps has allowed companies – like Uscreen – to scale their prices to meet the demands of small to medium-sized content creators.
For the first time in history, it is affordable to build and launch a fully-branded, independently-owned video streaming app.
What was once only available to large companies with big budgets is now available to anyone with a passion and drive for monetizing videos, a healthy following, and a little cash to invest in their online business.
So far, hundreds of independent video content creators have launched their OTT apps. Some of our personal favorites include:
But this sweetspot won’t last forever.
Your 12-Month Heads-Up
History has a way of teaching us valuable lessons.
If you look at past trends you will notice that creating a successful…
- YouTube Channel
- Social media feed
- Mailing list
…now requires significantly more investment of time, money, and effort than one year before it became the mainstream.
The people who got in early and joined their respective “gold rush” found it much easier, grew bigger followings, and saw better results over the long-term.
The people who try to do it now are facing an uphill battle for results that are seldom as good as those seen by those early adopters.
It’s not impossible, it’s just much much harder.
And we can say with a high degree of confidence…
It’s only a matter of time
It’s only a matter of time before having OTT apps becomes an expectation rather than a competitive edge.
As a video content creator who’s monetizing videos, you will eventually launch your own OTT apps–whether now or in a few years.
If you do it now, you’re winning in the VOD space, and will forever be ahead. If you do it in a few years, you’ll just be catching up to your competitors. It will also be harder to promote your apps because your competitors will also be promoting their apps.
If you cut in before the noise and seize the opportunity during this gold rush, you will be able to reap the rewards of getting ahead of your competition and providing an innovative service your customers want at a sensible cost.
Give it a try for free.