Over-the-top (OTT) media services are quickly becoming the go-to choice for consumers who want to access content on their terms. As a result, OTT services are changing how people watch television, listen to music, and consume other forms of media. With its rapid emergence, the AI used in social media, especially OTT services, is becoming increasingly sophisticated and personalized. Besides, the revenue generated by OTT is projected to grow to over 242 billion globally by 2028.
This article will introduce the OTT market and the latest AI-based technology transforming the media industry. We’ll also look at AI-powered OTT services’ benefits, challenges, and opportunities they offer media companies. Finally, we’ll explore some of the most exciting AI-based OTT services and products available today.
Uncovering the Interplay Between AI and OTT Platforms
Artificial intelligence (AI) is an umbrella term referring to the ability of machines and computer systems to perform tasks that generally demand human intelligence and intervention, such as visual perception, decision-making, interpretation and translation, and speech recognition.
On the other hand, Over-the-top (OTT) is a term used to describe the delivery of content such as audio, video, and other media over the internet, without the need for a subscription to a traditional cable or satellite TV provider.
The correlation between these two things is clear as OTT increasingly depends on AI-based technology for content delivery, personalized recommendations, and video streaming. AI enables OTT providers to deliver customized content and services to their customers, as well as to understand their preferences and target them with relevant content. Moreover, you can use AI to automate content delivery processes and optimize streaming quality and cost savings.
Popular AI-Based Trends in OTT Technology
With the increasing demand for streaming services, AI-based OTT trends will become more prevalent, and companies that adopt them early could gain a competitive advantage. These factors decide how OTT platforms benefit from using AI.
1. Video Delivery
AI-powered video delivery technology allows media providers to deliver high-quality video with minimal latency. This technology can help create personalized streaming experiences for viewers by providing dynamic ad insertion and content recommendations.
2. Securing Content
Media producers and creators can leverage Blockchain technology to secure media content published on OTT platforms through enhanced transparency, regulating how media is consumed and shared. Blockchain-led protection can lead to reduced instances of piracy and potential copyright infringement.
3. Content Personalization
These top trending technologies allow media providers to tailor content to individual viewers. This technology can build customized experiences for viewers, such as providing personalized notifications and content recommendations just the same.
4. Quality Control
Quality control through top trending technologies uses AI to analyze video streams and detect issues, such as buffering, latency, or poor audio. It helps ensure that viewers have a smooth streaming experience.
5. Metadata Generation
Metadata generation features use AI-based technology to analyze video content and automatically generate descriptive metadata. As a result, it helps media providers generate descriptive tags for their content quickly and accurately, enabling viewers to find relevant content more easily.
6. Insights Generation
This technology uses AI to analyze data from viewers’ interactions with content, such as likes, comments, and shares. It also helps media providers better understand their viewers’ preferences and interests, enabling them to create more engaging content.
7. Targeting
AI-based OTT innovations are transforming the media industry by allowing companies to target specific audiences with tailored content optimized for the maximum impact of Artificial Intelligence. One can use machine learning algorithms that analyze user behavior and demographic data to identify the most relevant content for each viewer. It can also create personalized viewing experiences, allowing media companies to understand their audiences and develop more powerful marketing strategies.
8. Ad Management
AI-based OTT innovations are also helping media companies to manage their ad campaigns more effectively. By using machine learning algorithms, media companies can automate the optimization of ad campaigns to ensure maximum ROI. You can determine the best placement for ads, the most effective ad formats, and the most relevant and engaging content for each audience.
9. A/B testing
AI helps media companies to optimize content and ad campaigns through A/B automated testing. By using machine learning algorithms, media companies can quickly and accurately test different variations of content and ads to determine which ones are most effective in reaching their target audience. It helps media companies to rapidly improve their content and ad campaigns, resulting in higher conversions and more significant ROI.
Using AI to Explore New Opportunities in OTT Application Development
AI can be beneficial in enabling different trends. But what about various industries? To know more, keep reading below. A report by Statista claims that AI platforms grew by approximately 30 percent in 2019, with Microsoft and IBM holding significant stakes.
1. Content Recommendation
AI can be used to personalize the content recommendation process. It can use natural language processing (NLP) algorithms to analyze user preferences, watch histories, and other data to suggest the right content to individual users.
2. Monetization
AI can identify the ideal pricing for content and predict user behaviors to maximize revenues. It can also specify the most influential media buying strategies and optimize ad placements.
3. User Engagement
AI can monitor user engagement and analyze user behavior to identify areas of improvement. Simultaneously, you can also use it to personalize and automate user communications and notifications.
4. Content Creation and Production
AI can automate content creation and generate personalized content for users. As a result, it can also be used to analyze user behavior and preferences to optimize production costs.
5. Security and Privacy
AI can easily detect and prevent fraud, unauthorized access, and malicious activity. You can also monitor user activity to protect user data and privacy.
Also Read: Top AI-Powered Test Automation Tools in 2023
Artificial Intelligence: Impact on the Media Industry
The media industry is undergoing a significant transformation due to the emergence of AI-based OTT trends. These are the factors on which AI relies to transform the industry.
1. AI-based OTT trends have profoundly affected the media industry. OTT services such as Netflix, Amazon Prime Video, and Hulu use AI to create personalized content experiences for viewers.
2. These trends have enabled broadcasters and content creators to understand their target audiences better, resulting in more tailored and effective campaigns. AI has also enabled media companies to track and analyze data from viewers, allowing them to optimize their content delivery and discover new revenue opportunities.
3. OTT trends have also enabled media companies to develop more accurate and practical algorithms for predicting viewer behavior. Consequently, this has enabled media companies to target their campaigns and deliver more tailored and engaging content experiences.
4. AI has also enabled media companies to manage their content libraries, finding and delivering desired content easier. It has helped media companies reduce costs associated with content delivery and improve their delivery speeds.
5. The most significant impact of AI-based OTT trends has been seen in improving user experience. Now, OTT services can recognize user preferences and deliver more personalized content experiences.
Exploring the Impact of Artificial Intelligence to Overcome OTT Challenges
While OTT has its highs, it also comes with its problems which can find easy solutions in AI. Let’s look at some of the challenges confronted by OTT and how AI helps overcome these.
1. High Consumer Acquisition and Retention Cost
Traditional OTT platforms rely heavily on expensive marketing campaigns to acquire and retain customers. AI can help reduce these costs by providing better consumer understanding and segmentation, allowing for more targeted marketing campaigns.
2. Lack of Personalization
OTT platforms often lack personalization –users may not receive content tailored to their interests. AI can provide a more personalized experience by analyzing user data and providing personalized recommendations for content.
3. Security Lagging
AI can be used to identify and block malicious activities like hacking and piracy on an OTT platform. You can also use it to detect fraudulent activities, like account sharing, to ensure that content is not accessed without proper authorization.
4. Limited Customer Insights
OTT platforms have limited insights into customer behavior, making it difficult to understand their needs better. AI can help by providing detailed customer insights, allowing for more informed decisions regarding content creation, marketing, and pricing.
5. Managing and Monetizing Content
With more and more OTT content being consumed, providers need help managing their content effectively and monetizing it to make profits. In this regard, AI can analyze past viewership data, identify popular content, and help curate and recommend it to viewers.
Conclusion
The media industry’s future is undoubtedly exciting, as AI-based OTT innovations can quickly revolutionize media consumption. Through AI-powered recommendations, personalized content, and intuitive user experience, OTT services are poised to transform how we interact with our media. By allowing us to access the content we want, when and where we want it, AI-based OTT services are set to take the industry to a whole new level.
Additionally, AI-based technology can enhance content delivery, such as streaming and encoding, leading to faster delivery times and improved user experiences. AI-based OTT trends can improve the media industry by better understanding consumer preferences and behaviors to automate content production, leading to improved content delivery and better user experiences.
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