Video production is finding new avenues and the latest addition is the 4K OTT (over the top). There are large numbers of players in the field of OTT (like that of Amazon, Youtube, UltraFlix, M-Go, Netflix etc) and all of them are thrilled about the 4K resolution.
4K OTT creation as well as providing the content is very easy. Creation of 4K can be taken up with new types of storage & video equipment. However, the total exercise is economical as well. As such OTT is well ahead of Pay-TV and competition from broadcast companies.
4K OTT is having advantages like low entry cost (than regular broadcasters). Lower cost enables the OTT to have greater penetration into the market and overtake the existing players who are burdened with high entry cost as well as high running costs.
Potential of 4K OTT is very large and is poised to grow further in the times to come. Few facts about 4K OTT mention that: Presently there are 2.3 million unique users. And more than 189 million unique users are expected to tap into 4K OTT by 2021. This phenomenal growth is quite a lucrative arena for the marketers.
Being the newest concept, 4K OTT is having limitations like lack of 4K content coupled with the lack of 4K streaming devices and this is limiting the growth of 4K OTT. Despite the limitations, the OTT video services are already hot with Hulu nearing 12 million paid subscribers, Netflix with more than 75 million subscribers & Amazon with almost 50 million prime members.
4K OTT is gaining momentum but is still in its infancy stage. With the world leading providers – software and hardware – this concept is going to the next big thing. The reality is not really far as there are positive indications in this direction. Japan already showed its interest to broadcast the 2020 Olympics in 8K and this can be a boosting point for the 4K OTT segment. As such 4K OTT is the next big thing.