AI adoption is intensifying across industries. Adoption of AI/ML by several media companies has shown growth across a wide range of digital content channels and that’s why we are witnessing the rise of several new as well as untapped revenue streams.
Evolution of digital technology in every sector, its role in OTT is only getting stronger. OTT platforms provide a complete package of entertainment with appealing video content from all over the world, be it news, sports, or TV dramas. A few clicks can allow a user to watch anything they want all day long. A streaming device along with stable internet connection allows your end-users to watch favorite shows as well as movies from any corner of the world.
The emergence of automation led the OTT platforms to depend upon machine learning and artificial intelligence to offer a memorable viewing experience while making their services much more suitable than before.
According to research done by Allied Market groups, the OTT market size will reach $1.039 trillion by the year 2027. Subscription OTT customers will generate nearly about two times as much revenue per user as ad-supported viewers.
Using AI in OTT to handle and manage the ever-expanding streaming data is helpful for OTT service providers in transforming their business and making maximum revenue.
How AI Can Transform the OTT Market
Tailored User Experience
When a customer does not find something interesting to watch within 60 to 90 seconds, they lose interest and move on. However, using OTT to track the behavior of the end-user and choose optimized content recommendations to boost the user-experience is impeccable. Machine learning algorithms have the capability of understanding the preferences of the users and accordingly suggest to them the content from the similar genre. So, AI has a great role in providing personalized user experience to the end-user on your OTT Platform.
Streaming services generate huge amounts of each second and service interruptions are guaranteed to happen. OTT platform owners can ease the data traffic flow by using AI techniques to parse data on what users are streaming and where to anticipate service spikes. Predictive analytics depend upon AI methods to identify potential network issues before they occur.
Faster and efficient video indexing
AI-powered search and indexing has the capability of extracting speech and visual metadata from videos and hence making the contents accessible to the audience. Using the AI method for video indexing makes it possible to request specific content, like a chase scene within the movies in the library.
AI algorithms can help encoders to select encoding as per the content because all the clips in a video don’t use the same compression levels. AI-based encoding lessens the video file size without even affecting the quality of the video. It automatically analyzes and uses the best encoding for each clip rather than choosing the encoding for each clip. It evaluates the video content to the pre-defined parameters for a device and optimizes the bitrate for finest playback quality. Ultimately, this can help OTT platform owners to match the bitrate to accessible bandwidth for the best quality delivery.
Easy Captioning on the OTT platforms
As per the industry regulations, Contents must include the captions and different formats and languages when delivered over several OTT platforms online. AI Tools is also useful in reviewing and revising the machine-transcribed content and can help content owners save time and resources while meeting the needs for transcripts and captions in several languages.
AI can predict the Thumbnails
Offering appealing visual images to boost the engagement can be difficult sometimes. Streaming media platforms are nowadays using AI algorithms to create data driven options for thumbnails. It uses machine learning to position the images and forecast the possibility of playing the thumbnail based on past content preferences. Thus, a thumbnail is chosen by AI based upon the possibility to view.
With ever-increasing growth of OTT as a medium for content consumption in the marketplace, AI and machine algorithm adoption is key to win the battle for viewership. It can make your platform smarter and also enhances the overall user experience. With developing technology, you must implement novel techniques and processes to make your end-users happy and satisfied.
OTT platforms require AI and ML to sustain the cutthroat competition, both from other streaming services as well as traditional cable companies. AI will help content owners and media distributors to make better decisions about product development and methods to approach content distribution in the marketplace.
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