OTT trends in 2022 will dictate the direction the streaming niche will head in. All because over the top market is one of the most profitable in the streaming world. The last five years have brought a significant rise in the popularity of streaming services. Changing consumer needs, rise of streaming services, and accessibility of content sidelined the traditional cable TVs, which are now replaced by flexible streaming services.
Additionally, the influence of the global pandemic has contributed to the increasing number of viewership. The GWI coronavirus research indicates that since the start of the coronavirus pandemic, 28% of people around the globe have been watching more live video content.
People are staying home, streaming huge amounts of content. That brings even more challenges to the OTT industry. How to stay on top and don’t fall out of the loop? Check what to look out for in 2022 in the OTT and prepare your business for growth and changes.
Here are the major OTT trends in 2022.
1. OTT industry will continue to grow
Allied Market Research survey revealed that the global OTT market size was valued at $121.61 billion in 2019, and is projected to reach $1,039.03 billion by 2027.
OTT is a global phenomenon that will grow and more consumers are expected to use over-the-top media service as their go-to source of entertainment, knowledge, and content library. Streaming services will dominate the market with the OTT industry as a leader.
So why is OTT so popular? Because it’s convenient, allows people to quickly and easily access their favorite content (not only movies and TV shows but also music, apps, games, and more) from any place at any time, and get a personalized experience.
Hence, in 2022 traditional cable companies may experience bigger problems with keeping their audience.
2. Immersive streaming technology
New ways of interaction are on the horizon in 2022 in the OTT industry. Immersive streaming technology will become more accessible and available—virtual reality with VR headsets for watching TV or movies, 360-degree views, augmented and artificial environments, and simulations with multiple scenarios.
Consequently, streaming services will offer their audience new ways of interacting with their favorite content.
Also, the voice assistant is gaining popularity because people find it convenient. Voice control allows users to access content quickly without clicking through the whole search interface.
3. More content
People want to watch and access various types of content. So different types of entertainment and other resources will be available to meet the high demands of the end-users.
Here’s the type of content that will be prevalent in 2022:
- Streaming platforms like Netflix, Hulu, Amazon Prime, etc.
- Live sports
- On-demand news coverage
- Games
- OTT messaging and voice services (WhatsApp, Skype, Zoom, and others)
- Video platforms like YouTube (these provide content on different topics and themes with short videos)
- Education
- Fitness apps
- Audio applications (Spotify, Apple Music, Deezer, or Tidal)
- Libraries for users’ content and all kinds of digital files (from pictures and videos to personal documents or information)
Access to all these types of content will also be possible thanks to the development of immersive streaming technology.
4. Advertising opportunities
According to statistics, almost 52% of all the revenue made in the OTT market comes from advertising video-on-demand (AVOD). Advertising is one of the biggest sources of income for many companies and their partners who deliver content in the OTT industry.
In 2022, advertisers will want to reach as many users as possible and will be looking for new opportunities on streaming platforms.
So make sure you’ve developed an ad-supported platform to boost your chances for success and extra profits. A good ad campaign can help you get more clients.
5. More partnerships between streaming services and cable providers
Since traditional TV stations have to make sure they don’t become the thing of the past and don’t lose the audience, they need to be open to new challenges and opportunities.
For this reason, in 2022 the OTT industry will notice an increased number of partnerships between streaming services and cable providers.
New strategies and subscription bundles will become available to attract viewers. That includes a combination of different tactics such as reaching out via social media channels, or over-the-top video ads.
6. 5G will become more popular
5G is the 5th generation mobile network that aims to seamlessly connect people with technology. It provides wireless internet with a fast and reliable connection. And it will become even more popular in the coming year.
5G comes with multi-Gbps peak data speeds, enormous network capacity, ultra-low latency, better availability, and overall functionalities that provide a unified experience to the end-users.
7. Multiple OTT streaming subscriptions
To avoid the so-called subscription fatigue and let people access different types of programs, the OTT industry will see the rise in multiple subscriptions, bundles, and various combined offers.
Subscription fatigue is becoming a popular phenomenon where consumers are less interested in subscriptions due to limited content and increasing prices.
Bundles and multiple OTT streaming subscriptions give users more flexibility at a lower price.
8. Rise of use in mobile devices to access content
There are three popular forms of accessing OTT services–online video content, mobile and TV apps, and browsers.
In 2022, people will shift toward mobile devices. Smartphones and tablets are predicted to be the main source for accessing content.
Hence, streaming services will become more accessible for mobile apps. Consumers will have more options to manage and interact with their favorite content.
9. More 4K content will be available
Because it’s easier to get 4K televisions, more 4K content will become available for the public. Such content provides a high-quality picture and gives a better user experience.
Viewers are demanding and want to confront their feelings, emotions, and daily lives with the virtual world to relieve the tension and entertain. It’s also a great alternative for cinemas since many people want to easily access their favorite movies at home.
With 4K content, you’ll be able to reach a wider audience.
10. More personalized streaming content
Streaming content in 2022 will become more tailored to consumers’ preferences and interests. That includes movies and TV shows but also shopping, music, videos, ads, and apps of various kinds.
Delivering personalized content provides users with more unique and relevant sources of entertainment. That gives more opportunities for increasing conversion rates.
11. Shared viewing
Shared viewing was popularized when many users started sharing the same account to watch content. Now, it’s transformed into a common option in streaming services so people can not only use one account within one subscription package but also watch content simultaneously from different places.
In the next year, it’ll become more standardized so people can easily connect and spend time together despite the distance separating them.
12. OTT streaming localization
Because global content is in high demand, OTT localization brings additional opportunities for growth and reaching a bigger target audience.
With localization, you’ll be able to meet audience expectations and fit local markets. If you’re aiming at global markets, ensure your localization strategy takes into account language, cultural, political, and socioeconomic issues, and other important factors. It’ll boost your chances for success.
13. User Experience will become a priority
Consumers don’t like when it takes time to learn how to use a product. People need easy ways of interaction with content—user-friendly and intuitive interface, ease of finding content, easy navigating through platforms, visual aesthetics, customization and personalization features.
Interfaces easy to navigate will be vital for the OTT industry in 2022 so make sure your services offer user-friendly functions.
14. Growth of competition in the OTT hosting industry
There are still giants such as Netflix, Hulu, or Disney+ that rule the industry. But more and more platforms emerge every day. That makes it more difficult for smaller players to shine. Smaller OTT services may find it hard to break into the larger league.
This trend is already visible and will continue to rise in the next year. One of the best ways to grow and break through the competition is to find experts who’ll help you create a perfect product that users will want to turn to.
15. Increase of Popularity in audio content
Statistics reveal steady year-over-year growth in listening to podcasts and audio content among consumers. There’s a visible shift from traditional radio to online services.
It’s a great moment for the OTT industry to take over. Podcasts, live streaming music, and other audio content will become more accessible so don’t forget to focus your efforts on this niche of audience.
Wrapping Up the OTT trends topic
Adapting to the changing customer needs and new trends will be challenging in 2022. That’s why it’s important to ensure you’re providing services on the highest level that are based on expert knowledge. If you’re not sure you’re heading in the right direction, reach out to our team to get the best specialists on your boat!
What OTT trends in 2022 are you looking for?
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