Why Should Broadcasters Adopt IPTV/OTT? Key Factors

Why Should Broadcasters Adopt IPTV/OTT? Key Factors
Viewers are continuously adopting video streaming services. The choice they have is rich with platforms offering diverse content. They can watch videos according to their preferences. Broadcasters should take advantage of this situation to adopt IPTV/OTT technologies for their service upgrade. They can launch an OTT or IPTV business and reach more people.
If you are ready to launch or upgrade your video streaming service, we recommend you contact Setplex. The company can offer you a solution to achieve your business goals.
Why Should Broadcasters Create an IPTV/OTT Service?
There are multiple reasons why. IPTV/OTT video streaming services provide plenty of opportunities, and broadcasters should realize that.
#1 People are switching to online video streaming services
The streaming industry is growing as more companies and individuals launch their own services. Researchers forecast the streaming industry to be worth $330 billion by 2030. 
According to Statista, 83% of U.S. consumers were using an SVOD (subscription-based video-on-demand) service in 2022. It is an increase of almost 20% in 5 years. 
The COVID-19 pandemic contributed to the growth of video streaming services. The demand for them increased during that time. Due to this, streaming service providers invested a lot of money to produce varied and unique content. 
Moreover, viewers benefit from video streaming services. They are too different compared to traditional cable or satellite television. 
#2 Video streaming services are more convenient for viewers
Viewers are shifting to OTT/IPTV services for more convenience and the opportunity to watch whatever and whenever they want. These are the main perks of online video streaming services.
Service providers offer varied content to viewers. Customers choose what to watch from thousands of videos of an educational or entertaining kind. 
Furthermore, people rely on digital devices to access their favorite streaming services. One of the main benefits of online streaming services is that they operate on multiple devices, including Smart TVs, smartphones, tablets, and computers. 
An over the top application allows users to watch videos whenever they are. They can be in any location, whether a cafe, park, or subway, and consume content they like. Viewers need an internet connection and a compatible device. 
Moreover, videos are available at any time on IPTV/OTT streaming platforms. There is no schedule that cable or satellite television has. 
#3 IPTV/OTT platforms provide more opportunities for monetization
IPTV/OTT platform developers embed functionality for video monetization. Content creators can generate revenue through advertising, subscriptions, and a pay-per-view model. 
  • Advertising. In this case, a video streaming service is free of charge for viewers. A provider generates revenue by running ads on videos. Online video streaming platforms have better targeting capabilities. As a result, people potentially interested in a product or service see ads with it. 
  • Subscriptions. Viewers purchase a subscription to videos on the platform for a period of time. They get unlimited access to all content. After the purchase period ends, the subscription can be renewed or canceled.
  • Pay-per-view. Consumers pay for every single video on the platform. Sometimes, providers offer viewers to purchase several videos at once. 
  • Hybrid. It is the combination of several monetization models described above. 
Along with monetization models, IPTV/OTT platforms often have other functions to make money. For example, you can use CDN video streaming to deliver content across many locations and countries with low latencies. 
Final Thoughts
IPTV/OTT video streaming platforms give broadcasters multiple opportunities for generating revenue and retaining viewers on the platform, from monetization models to personalization features. It provides the functionality to combine linear television and video-on-demand content. Your viewers will always have something to choose from the huge library of shows and programs.