Here's What You Missed While Planning Your OTT Strategy
As more consumers forgo traditional pay-TV services, OTT platforms must battle for attention and share-of-market. Historically, the biggest weapon in their arsenal has been original content. In 2017 alone, the top three OTT platforms spent over $13 billion on original and acquired content.
For executives making decisions about OTT platforms, the pressure’s never been higher. How can our platform deliver more punch? How can we attract new subscribers? How can we retain our loyal users? If you want get ahead in the OTT market, you need to leverage every single weapon at your disposal. So what if we told you about a simple way that OTT platforms can differentiate themselves? And, what if that solution increased the quality of the streaming experience, drove higher engagement, and was easy-to-implement?
Now, look, original content will always be a vital part of a long-term OTT strategy. We’re not debating that. Content is still king. We’re just saying that while these huge platforms were focusing on content, they missed the major opportunity to leverage audio to drive a better OTT experience. Until today, OTT platforms have failed to deliver the same audio experience that viewers get at the movie theater.
With the introduction of SONAMI by HEAR360, OTT platforms can now provide immersive theatrical sound over any device, and over any headphones.
“We’ve developed technology that delivers a powerful, immersive,
entertainment experience: pinpoint-accurate sound effects, crystal-clear dialogue — it feels like you’re actually in the theatre. SONAMI brings mobile soundtracks to life.” Matt Marrin, CEO - HEAR360
And it’s not just marketing-speak, HEAR360 has the data to back it up. A good measure of value for any feature is whether or not people will pay for it. In a recent survey, Netflix, Hulu, and Amazon subscribers were shown a video stream with and without SONAMI. Not only did most respondents prefer SONAMI, but 61% said they would pay an additional $1.35 per month for the technology.
In addition, research has shown that higher-quality audio can actually enhance users’ perceptions of video. HEAR360 conducted a survey in which participants were shown a video clip with stereo sound and SONAMI processed surround sound. 72% more respondents ranked the video clip with SONAMI to be higher in picture quality, compared to the video clip with standard stereo.
But how many people really watch movies using headphones?
67% of people reported using headphones with their mobile devices
55% of people use headphones daily or at least several times a week
49% of people reported using headphones for watching TV, movies, or shows
With 148 million people watching Netflix monthly in the U.S., the total number of subscribers viewing on headphones is staggering.
Your OTT platform could deliver a better experience to this mass audience. With the total amount of projected OTT subscribers worldwide to hit 650 million by 2021, we see an opportunity for OTT executives to make their platforms stand out by bundling immersive audio with their original content.