Market research database, ResearchMoz, released information about a study citing that North America will keep its over-the-top (OTT) industry dominance worldwide.
Within a ten-year perspective from 2018 to 2028, the research cited factors that will fuel this trend.
First is the existence of third-party mobile applications that provide state-of-the-art video-on-demand (VoD) features. They have been launched thanks to the proliferation of video streaming.
Leading streaming services in North America are concentrating on increasing their customer base by providing content through different channels such as dedicated OTT services and smartphone applications.
For instance, HBO’s VoD services on Apple digital devices facilitate iPad and iPhone users to access large numbers of original and exclusive content from the cable TV network.
Subscribers can avail these programs without breaking the bank. This strategic partnership between Apple and HBO has diminished the latter’s need to depend on pay-TV companies to gain more customers.
According to the comprehensive report, another reason why the OTT industry in North America will most likely expand in the next decade is that of the United States and Canada’s huge budget allocations for the creation of animated content.
The Fox Broadcasting Company is one of the primary factors that spur the creation of these types of programs.
It is one of the largest companies devoted to animation content creation available for prime time TV, offering popular programs such as “Family Guy” and “The Simpsons.”
In addition, entertainment companies that specialize in the creation of animation content like Cartoon Network, The Walt Disney Company, and Nickelodeon have increased younger audiences and even adult streaming enthusiasts’ appetites for animated films, series, and cartoons in recent years.
US-based OTT industry players are inking distribution agreements with these major animation content services in order to benefit from the profitability of these types of programs.
Together with consistent high-speed Internet services and easy access to the high-fidelity data network, these two factors are viewed to help in the OTT industry’s expansion in North America over the next ten years.