OTT platforms are becoming popular now than ever before.
The competition between different OTT platforms has increased tremendously. Technologies like AI for OTT services can help businesses stay relevant in this cut-throat competition.
According to a report, by the end of 2019, about 182.5 million people in the US will view content via OTT services. This represents more than 50% of the US population and provides huge business opportunities for OTT service providers. However, with the increase in competition, it has become difficult for players to maintain their relevance in the market. Even the big players are not guaranteed to maintain their market share if they can’t stand out from their competitors. In addition to providing engaging and entertaining content which is the core of OTT service, businesses can leverage advanced technologies like AI for OTT streaming, providing recommendations to users, and data-gathering purposes to keep their audiences from straying away. Here’s how AI can help OTT platforms overcome the challenges faced by them and help in maintaining their user base or even build upon it.
Video Playback Services
The data speeds have increased in the past few years, but so has the video quality of web content on OTT platforms. With the option to stream content in 4K video quality, the data and speed requirements have significantly increased. This can lead to a lot of buffering issues that can potentially drive subscribers away. Thus, finding a solution for the video buffering problem becomes imperative. The AI system can intelligently determine the video quality depending on the network quality. It can intelligently switch between different video quality without affecting the user experience to a great deal. The user can be kept engaged on the platform if he doesn’t face any buffering issues. AI can also learn over time the preferred video quality of the user and automatically switch to it whenever the user plays any video content.
Providing Customized Content
People are more likely to watch shows similar to their interests. OTT platforms can provide better services to their users if they have a better understanding of their choices. With AI solutions OTT providers can learn about user preferences, the shows they like, the shows they hate, and the amount of time spent on their platform. With such insights, businesses can recommend other shows similar to the user’s liking. They can even analyze changes in user behavior with changes in the storyline of the show through their watching patterns. If the viewership drops because of a change in the plotline or character, the producers can make changes accordingly.
AI already sees wide applications in the entertainment and media industry, and its use can be extended further to OTT platforms. With the use of AI for OTT, businesses can get a better understanding of their customers. Artificial intelligence will continue to learn and evolve with advancements in technology. This can help businesses survive, if not surpass others in the OTT platform war. With the current trends seen in the OTT industry, it can even replace cable TV services altogether, and hence the use of AI cannot be neglected.