Anshuman Das, CEO, Muvi.com
2017 has mostly been a year of increments and lateralization for Muvi, and in my opinion, for the over-the-top (OTT) industry as well. We have gained market visibility in a broader spectrum, and I totally attribute it to our product development capability. We have successfully released over a 100 distinct features in only less than a year, and this is something that I take pride in.
Today, Muvi has become the one platform that is hybrid (supports audio, video, physical products), white-labelled, multi environment friendly, coding-free, and the fastest in the world, all at the same time.
The industry itself not only has a lot to offer in terms of business opportunities, but also demands in pour in terms of technology, pricing, and strategizing. Channels have witnessed significant decline in viewership; having lost a majority of urban viewers to on-demand services. Ad networks now have OTT services as a more effective medium and this has slashed revenue from advertisements.
Production houses are acquiring the best available content, and implementing the latest technology in terms of 4K, VR, 360°, HDR, etc.; thanks to the VOD boom. For multiservice operators, their OTT service might already have ranked up as a star, while linear TV networks might still serve as the cash cow. They could immune themselves during this transition from cabled consumption to OTT. The OTT industry is no longer exclusive, meaning inter depend ability has emerged, and angel players have been yielding their share in this booming business environment.
Offering the best viewing experience is not just in the hands of the platform owner anymore; it never was, but it took us a while to realize it. Today, the CDN architecture, data network and coverage, software latency, etc. determine the seamlessness of a streaming service. Most streaming sites have been including original content in their libraries and that is the thing, going forward. Netflix has announced its partnership with Phantom Films to produce the country’s first original series. Amazon Prime Videos has been promoting standup comics with their exclusive performances and web series. One of the biggest blockbusters in recent times, Bahubali has been adopted by Amazon as an animated web series. We have had instances of mobile service providers partnering with OTT players to bank on each other’s strengths. OTT device manufacturers are also being partnered by channels to implement online carriage of their terrestrial content.
Consulting giants such as Nielsen, PwC, etc. have released many figures and forecasts that indicate the probable shape of the industry growth curve. One of the interesting numbers is that 31 million household’s stream on at least two different types of streaming devices and 6.5 million households own at least one each of smart TV, mobile device, and gaming console.
That is a quite motivating market size to target and we can expect many OTT providers consolidating their services to target this group, which is likely to grow further as more people are cutting the cord each day. On similar lines, Muvi too has plans to extend streaming support on similar devices. Also, our e-store platform – Muvi Kart is under focused programming and will be rolled out with many new features.
The year ahead seems to be full of opportunities as it is of competition. Luckily, cloud-based OTT solution providers have many areas to specialize on. Some are intensively working on developing their video streaming and live streaming capabilities, while others are focused on subscription services or integrating ad stitching technology.
Most business units are aligning their corporate goals with their core competencies, thereby coming up with distinct USPs. That is a boon because despite having hosted an arcade of platform providers, the market does not seem cluttered. There is definitely a pie for everyone. Band Muvi, however, aims to be a more comprehensive OTT platform, taking it a step further toward being recognized as a one-stop OTT solution provider.