Streaming (OTT) apps – This is the way!
We all, well those of us in the OTT industry, always knew the real power and impact OTT is going to have for the content owners. It was just a matter of having big enough players enter the market globally, and for the market to mature properly. Expectations were to have the process of overpowering traditional pay tv over the next few years. However, corona virus influenced the process to happen faster with the rise in cord-cutting trend and bigger consumption of content online (OTT) due to lock-down pretty much in the whole world.
Real impact of the changes can be seen from a couple of Disney's decisions. First one is the decision to reduce its workforce by total of 32,000 employees mainly associated with jobs related to themed parks. The other is to put focus on their direct-to-consumer business, particularly Disney+ which in just six months reached over 70 million subscribers and also on HULU. This number of subs is above and beyond analysts' expectations for this OTT service. We will see how they will position themselves compared to Netflix once they go completely global. They have decided to restructure their television operations that would yield maximum results for the mentioned platforms meaning that they see OTT platforms as a best tool for the content provider to reach global audience and achieve great results.
On another note, it is very interesting decision for a company of such magnitude to make such business decisions and are flexible enough to make them happen, thus enabling them to further grow and develop rather than waiting to see how the market will influence them.
Disney already knows that OTT is the way, then there is no reason not to drop us a line here at AVIION and start your OTT journey with us. To conclude, and as Mandalorian would say, and we would agree... This is the way!