• Simply GenZ

The Rise of Netflix, Amazon Prime Video, and Other OTT Streaming Services

What are OTT streaming services?


OTTstreaming services or ‘Over the top’ streaming services are online platforms where people can watch many shows and movies all in one place. They bypass the traditional cable and tv system, the most popular being Netflix, Hulu, Amazon Prime Video, etc. Their market size is about $60 billion.


Why are they taking over?


Convenience:

All the shows and movies are available in one place and can be accessed on multiple devices

Which creates comparatively less hassle than cable. They are easy to subscribe and cancel w.hile being customizable and scalable, so you can choose which plan you want to fit your budget and lifestyle.


Affordability:

The platforms work on the most common devices like phones and computers and are cheaper than TV and Cable. Full access to all the shows on the platform is given for a small subscription fee.


Personalization

The platforms use the shows that people watch, to recommend the ones that are similar making it easier to find shows that they enjoy and takes less time to search around for something to watch.


How has OTT streaming services caused changes in the media?


Some OTT services like Netflix and Hulu have started creating original series that are exclusive to their platform. This is different from the traditional movie and cable system. The shows are easier to talk about and gain popularity as many people use the same platforms which also makes more people buy it because they want to be a part of such conversations as well and feel included. OTT platforms have gained mass popularity and cable has since been declining.


Sources:

https://beonair.com/video-streaming-skyrocketing-in-popularity

https://www.grandviewresearch.com/industry-analysis/over-the-top-ott-devices-services-market


Research Coordinator - Charlotte Lew

Editor - Khushi Wadhwani

Illustrator - Ishika Chakraborty

Grpahics - Althea Oocmen




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