Digital transformation has left its mark on nearly every industry, and the media and entertainment sector is no exception. The emergence of over-the-top (OTT) services has radically changed the landscape of this industry, with OTT app development on the rise. The global OTT video market is estimated to reach $316 billion by 2023, with 65% of users preferring mobile apps and smart TVs over browsers to access content.
OTT applications offer users several benefits, such as flexibility in content consumption, a wide variety of content, ease of access on multiple devices, affordability, and personalized experiences. Leading players in the OTT market include Netflix, Disney+ Hotstar, and Amazon Prime Video.
To succeed in OTT app development, businesses must incorporate essential features, including user registration and login options, smart search functionality, multilingual support, various payment modes, push notifications, watch lists, content categorization, screen casting, and a download feature.
In summary, the impact of digital transformation on the media and entertainment industry is evident through the rapid growth of OTT applications, driven by the convenience and flexibility they offer to users. Businesses are investing in OTT app development to tap into the expanding market, with a focus on incorporating essential features to enhance the user experience.