Question: An over - the - top ( OTT ) media service is a media service offered directly to viewers via the internet. The term is

An over-the-top (OTT) media service is a media service offered directly to viewers via the internet. The term is most synonymous with subscription-based video-on-demand services that offer access to film and television content, including existing series acquired from other producers, as well as original content produced specifically for the service. They are typically accessed via websites on personal computers, apps on smartphones and tablets, or televisions with integrated Smart TV platforms.
Presently, OTT services are at a relatively nascent stage and are widely accepted as a trending technology across the globe. With the increasing change in customers' social behavior, which is shifting from traditional subscriptions to broadcasting services and OTT on-demand video and music subscriptions every year, OTT streaming is expected to grow at a very fast pace. The global OTT market size was valued at 121.61 billion dollars in 2019 and is projected to reach 1,039.03 billion dollars by 2027, growing at a CAGR of 29.4% from 2020 to 2027. The shift from television to OTT services for entertainment is driven by benefits such as on-demand services, ease of access, and access to better networks and digital connectivity.
With the outbreak of COVID19, OTT services are striving to meet the growing entertainment appetite of viewers, with some platforms already experiencing a 46% increase in consumption and subscriber count as viewers seek fresh content. With innovations and advanced transformations, which will enable the customers to access everything they want in a single space, OTT platforms across the world are expected to increasingly attract subscribers on a concurrent basis.

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