OTT and AI together not only brought entertainment in your palms but also helped satiate the unrealised hunger for liberalized & globalised content consumption.
We all are familiar with popular streaming devices, such as the Amazon Fire Stick, Google Chromecast, NVIDIA Shield TV and Roku, the pallbearers of the OTT world. Ever wondered how these products became a household name? Since the introduction of OTT, television viewers all over the world have ‘cut the cable’ and jumped onto the over-the-top (OTT) bandwagon. And with the surge in the number of OTT platforms viewers, media houses followed the winds of change and transitioned themselves onto the ‘digital-first’ world and how! Related products hence became a must know and use item, rather than a ‘good-to-have’ optional item. In the world we see today, starting from internet trends, to fashion, to food trends to even swaying popular belief systems, it is interesting to know that OTT is at the helm of it all, closely behind the social media phenomenon.
Nothing can be this good without a strong technological push, and behind OTT’s rise, is AI. Thanks to AI, your OTT platform knows about you and your entertainment watching patterns and choices, more than your significant other. From AI-driven recommendations to push notifications, AI has amplified our viewing choices like never before. We have much to thank the technology than we actually realise.
In this blog, we will have you acclimatized to the rising case of OTT and also talk about the various challenges media firms experience when incorporating OTT in their operation ecosystem. Of course, discuss some solutions, and discuss how AI is empowering the growth of OTT. Let’s get started.
OTT, the Future of Broadcast
OTT or “Over The Top” is referred to streaming services that deliver content across the internet. With several media corporations offering OTT services along with their traditional linear TV broadcasts, OTT is considered the ‘future of broadcast’ owing to its growing popularity.
With the advent of 5G internet, the cause just gets furthered. Video streaming services continue to increase their reach to millions of users each day. Rapid shift in consumer behaviour and viewpoints has led digital platforms to be on the lookout for applications/products that can read and analyse user behaviour. The platforms need the technology to map end-users thoughts and present them with a recommended list of programs, not only local but from beyond the geographical borders to help create that ecosystem of one world – one entertainment.
The rise of OTT is inevitably pushing the world into a beautiful state of amalgamation – of sharing and understanding of cultures, adapting trends prevalent in the distant corners of the world – The concept of “One world – Global Entertainment”.
OTT, the push innovator of various revenue models
Popular OTT and VOD streaming services today rely on current algorithms to power their operations, using subscription-based, transactional, or ad-supported revenue models to successfully retain subscribers. Recommendation engines are now utilized for more than just suggesting content based on user behaviour. Many have implemented a hybrid recommender system to customize the online distribution experience for each unique user, but also boost the site’s overall engagement and loyalty.
Realising its full potential, AI can be utilized to better understand audiences and deliver better services. Muvi’s AI-based recommendation system Alie utilises the power of Big Data, Machine Learning, and Analytics to give you that competitive edge over your competitors.
It takes a long time and a lot of effort to integrate machine learning technology into any software. And to be successful, it needs complex algorithm-building techniques as well as a lot of expertise with the algorithm. Muvi employs cutting-edge development methodologies and tools, such as data mining, predictive modelling, and natural language processing (NLP), among others, to improve machine learning abilities.
How AI is helping transform OTT platforms?
OTT platforms primarily utilize machine learning to assess user preferences and titles played, and then provide more recommendations in order to wow them and entice them into spending more time on their platform. Since automation has grown in popularity in recent years, every business should take advantage of these quickly evolving capabilities.
Machine learning is commonly used to construct recommendation systems for services like OTT platforms. The use of prior information of another user’s likes and dislikes, in particular, underpins the concept of optimization algorithms. The AI will first suggest titles to users when they sign up with the platform for the first time, and then as the user keeps viewing more content, the suggestions get more accurate as a consequence of machine learning. To give you an example, if you have previously viewed multiple horror films, their network will learn about it and, based on their reputation, will recommend horror films to you the next time you visit them.
OTT – The Pallbearer of Next-Gen Content for Gen Next
Today, a lot of effort is put in to develop a more intimate and lucrative connection with a consumer. So much so that one can say, producing content isn’t the same anymore.
For instance, among the few methods that content producers should embrace is the difficult area of making vivid 3D movies from 2D streaming server files. This allows a company to establish data platforms that can scale up and down in size and power when needed, all while maintaining total control over the deployment process.
OTT – Promising Exciting Times Ahead
Artificial intelligence helps consumers have a better viewing experience by busting the idea that an OTT platform is merely a video player (which isn’t the case anyway).
AI can allow its spectator to be transported into the action by using their own displays and gadgets to watch the game live. From content management to complex algorithms of suggestions, the application of AI technology is by far one of the most fascinating aspects to look forward to in the OTT world and what will follow next.
The amalgamation of OTT and AI is hence the perfect combination to move forward. It is safe to assume that most OTT platforms use AI-driven algorithms to make the platform’s user experience even richer. It is almost expected as a user now, to get ROI for the moolah spent every month (which is almost triple the cost paid for a cable TV subscription). Platforms that aren’t on the bandwagon need to quickly adopt platforms that have AI imbibed into their architecture, sooner than later to stay relevant.
