Over the Top Television (OTT-TV) and the digital consumer is here. The battle for the digital consumer is on as sleeping giants awake to take on digital newcomers in OTT-TV.
Latest Accenture point of view on the models and capabilities that will underpin success in the fast-changing OTT-TV market.
Things move at lightning speed in the online world. Nowhere is this more visible than in OTT. New entrants to the market have made a big splash very quickly across consumers’ connected screens, challenging established broadcasters and cable companies for viewers’ time and money. But if the old giants were caught napping they’re now waking up and engaging for the contest ahead.
In just a few short years, the collision of consumer demand and technology innovation has dramatically altered the television industry landscape. Not only are consumers moving away from time-boxed viewing, they are moving away from the box itself – to a world of multiple screens operating in a fast changing digital ecosystem.
Adoption of OTT is being driven by increasing broadband penetration coupled with the wide array of internet-enabled devices available to consumers today. And OTT is no longer a niche offering in the hands of early adopters. Viewing figures and content volumes are growing at astounding rates. In Accenture’s 2012 Video-Over-Internet Consumer Survey, 92 percent of respondents say they watch video over the internet, with an increasing number of people watching long-form video on devices other than television. Of these people, over 23 percent have paid through subscription and 11% through a pay per view mechanism.
This point of view, the third in the “Bringing TV to Life” series, explores the aggressive growth of new entrants to the OTT-TV world, examines how broadcasting incumbents are responding, and outlines the capabilities required to tune into the digital video consumers of the future.
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