OTT refers to Over-the-top, which means providing movies and TV content through the Internet, without traditional cable or satellite TV subscriptions. It is a revolutionized way of entertainment and unfolding endless media streaming opportunities for users. Netflix,Amazon Prime, Hulu are some of the significant OTT applications distributing unmatched media streaming experiences to their millions of users. These OTT applications have bypassed cable and satellite TV service providers that conventionally act as the controller of media contents.
According to the latest reports, nearly 765 million people across the world are using OTT videos at least once per month. This represents more than 10% of the global population and more than 21% of digital video viewers worldwide. The comprehensive subscription of the OTT market is also expected to grow by 24% in 2020.
Easy access to the Internet, affordable services, faster Internet, and carve of watching the latest media have contributed to the success of OTT applications. There has been a massive demand for OTT applications development, and businesses are banking on aggressive strategies to grow through these modern media streaming platforms.
Although OTT and videos are tangled, they are not the same thing. OTT is just the different channel from which the video content is delivered to the end-users. Here are the detailed clarifications of video contents, OTT contents, and OTT devices:
Videos Contents: Video contents can be viewed on any device, including mobile phones, desktop, television, OTT devices, and many more.
OTT contents: OTT contents come from OTT content providers like Netflix, Sling TV, Amazon Prime, and others. The OTT contents can be viewed from multiple devices by multiple users at the same time.
OTT devices: OTT devices can be any device including smartphones, smart TVs, Apple TV, Amazon Firestick, Chromecast, Xbox, PlayStation, desktop, laptop, tablet, which is used to view OTT contents.
As stated above, more than 10% of the global population loves to consume OTT content; it is clear that the needs of OTT are essential shortly. Here are just a few other reasons why it is more appealing than the conventional mode of media alternatives.
As stated above, more than 10% of the global population loves to consume OTT content; it is clear that the needs of OTT are essential shortly. Here are just a few other reasons why it is more appealing than the conventional mode of media alternatives.
● High-value content at affordable cost: When compared to standard cable packages, streaming media through OTT are much more affordable options. The HD subscription of Netflix is $12.99 per month, and non-HD costs $8.99, which is only a fraction of what we pay for the traditional cable subscription. ● Original content: There is a tight race of providing original content between major OTT content providers like Amazon Prime and Netflix. They have distributed some of the award-winning materials, including “Marvelous Mrs. Maisel,” “Roma,” “Period. End of Sentence” and such others. ● Compatibility with multiple devices: For many decades, the television set is mandatory for watching cable TV. Nowadays, you can view OTT contents on various sets of devices. The account holders can enjoy the same OTT experience from different types of devices, including mobile phones, smart TVs, gaming consoles, and others.
Increasing competition is the biggest challenge in the OTT applications market. Despite the problem, OTT technology has immense potential. The modern media streaming platforms are now on the rise worldwide. North America represents the primary market with more than 51% adoption rate. Besides, European and Asian markets are also witnessing impressive growth due to international exposure of brands like Amazon Prime and Netflix.
Not just entertainment, the global adoption rates are increasing due to the significant opportunities in non-entertainment markets. A recent survey determined that more than 50% of OTT content viewers browse educational content, generally in the form of instructional streaming platforms. The children’s programming and health-based content are holding immense potentials.
Besides, the OTT platforms also consider the benefits of tiered monetization. While most of the OTT content providers are subscription-based, nearly 20% are also depending on in-app purchases. They cast a wide net when it comes to monetizing their services, and OTT could help them to grow in the coming years.
Characteristics That Define Modern Media Streaming
So, what makes a video streaming protocol modern and trendy? There are similarities across smooth streaming, DASH, HDS, and HLC, which yield the below characteristics of modern streaming media platforms.
Chunked delivery: Depending on the protocol, the video files can be divided into short multi-second segments ranges from 2 to 10 seconds. Besides, the custom streaming protocols treat videos as monolithic blobs of information.
Stateless interactions: When users are streaming the video, each request is independent. There is no persistent connection between the user and the origin server for streaming video playback.
HTTP communication: The OTT contents are sent through WAN across the Internet using the standard HTTP protocol. The modern streaming communications depend on SSL encrypted and HTTP encrypted communications.
Passive network structure: When the videos are on their way towards the network, the intermediary nodes simplify the routes by modifying the video fragments.
Internet-intranet symmetry: Modern media streaming open-source like DASH, Smooth, HDS, HLS, and others treat WANS as an open network by default. The corporate and public systems are stateless, passive, and comprised of hardware and software that can provide chunks of videos to their final user-end destinations.
ABR playback: The videos delivered through modern media platforms are coded at several layers and for multiple quality checks. During the ABR playback, the client’s bandwidth determines the quality level and offers a smooth playback experience.
Better user interface by automatically adjusting Video-Streaming quality (Source: Amazon Prime Video)
Open source OTT appplication development platforms
With the rising demand for mobile app development, many open source web video players have emerged to offer an uninterrupted development experience. Here are some of the best examples.
RX-player: It is configurable with both Smooth streaming content and DASH. It is written in TypeScript.
Dash.JS: it plays DASH contents and supports a wide array of DASH features. As the name suggests, it is written by the DASH Industrial Forum for the DASH transport protocol.
HLS.JS: It is a well-reputed HLS player that is used in production by many big brands, including Twitter, Dailymotion, and many others.
Shaka-player: it is maintained by the tech giant Google and compatible with HLS and DASH.
Is OTT replacing traditional media?
Most of the OTT content service providers are associated with web-based subscriptions, which might be a great alternative to traditional cable and satellite TV subscriptions. While the OTT has gained immense popularity, it does not mean conventional cable networks will disappear entirely. The users are maintaining the cable TV along with the Amazon Prime and Netflix’s subscriptions.
It is also noteworthy that OTT services are relatively new and could undergo significant changes for best practices and better user experience. It may be possible that the OTT platforms could become one bundle, much like our traditional cable packages. Besides, some cable companies have also started their OTT platforms like HBO Go as a part of their premium subscriptions.
Final words
The OTT media streaming services have been with us for years and many more to come. Furthermore, the increased diversification and competition suggests that the online media streaming market is healthy and booming and many opportunities remain untapped. No matter you are enjoying Netflix’s original series, or following a newly emerged OTT platform, the OTT reflects an exciting phase of media.
In case, you are looking to understand OTT’s implications in your business sector in more detail, drop us an email on [email protected] or schedule a free consultation with our team of experts who can guide you through the blockchain implementation in a specific use case.
In many ways, the shipping industry remains rather traditional, with a number of the processes involved being time-consuming and document-intensive and the use of paper documents still prevalent to name a few, memoranda of agreements for ship sale and purchases, charter party agreements for ship employment, bills of lading, port documents, letters of credit and other documents for the carriage of cargo. The fact that these arrangements, at times, involve an extensive chain of parties only increases the risk of human error and very occasionally, fraud. Blockchain Technology will take the shipping industry by storm, but the potential cost savings that it’ll bring along is what has everyone so excited.
How does Blockchain in the Shipping Industry work?
How will the shipping industry have the benefit of blockchain technology?
The initial push into the industry has seen giant operators collaborating with technology corporations to measure how blockchain technology will facilitate them in the future.
For example, Maersk has teamed up with IBM to set up a company to disseminate blockchain technology throughout the shipping industry by, for example, tracking freight and replacing all paperwork with digital records, in the hope that it will create considerable benefits for all stakeholders along the supply chain.
The expectation is that blockchain technology can produce a platform not anchored down by endless work and complex transactions but instead entirely digitalized therefore allowing additional fluid freight movement and reduced costs and resource waste.
According to Tradewinds, in excess of US$4bn worth of goods are shipped yearly and the costs incurred by the documentation attributed to such goods is in the region of US$800m; it is this substantial cost that the blockchain ecosystem aims to erode. The potential savings will ultimately have to be weighed up against the potential risks in any digitalized system in relation to fraud or hacking.
The principal benefit of smart contracts comes from the increased speed, efficiency, and trust that the contract will be executed exactly as agreed. In addition, such contracts can reduce certain transaction costs associated with contracting, since blockchain technology cuts out middle-men.
In the shipping industry, ING and Société Générale are collaborating to develop a blockchain-based platform for the management of physical energy commodities trading. By moving away from traditional and cumbersome paper contracts and operations, to secure smart contracts and authenticated transfers of electronic documents, the aim is to cut administrative and operational risks for all participants in the supply chain, including ship owners, charterers and shipbrokers.
2. Smart Bills of Lading
The bill of lading evidences the contract of carriage between the carrier and the shipper and that the shipper has received the goods in the prescribed condition. Traditionally, the bill of lading is a paper document and it constitutes a document of title for the goods. Physical possession confers the right to receive the goods.
Blockfreight, a provider of blockchain-powered logistics, offers the supply chain an advanced automated global ledger complemented with digital security and customer authentication and which is populated with chains of custody data bespoke to each individual freight container. This seeks to give stakeholders complete visibility of their shipments from collection all the way through to delivery and reduces overheads drastically.
3. Data repositories or asset registries
One other space within which blockchain technology might be used is within the institution and maintenance of a decentralized asset registry, for example in relation to container boxes. Ultimately, the extent to that blockchain technology is adopted can, in part, depend on the intention for which it is to be used.
Blockchain technology has the potential to act as a “data repository”, whether by individual companies or industry bodies. The Global Shared Container Platform (“GSCP”), a blockchain-based platform, seeks to allow participants in the container shipping industry, whether they be container lines, ports or terminals, to keep real-time track of all containers and to manage various types of container-handling transactions.
Blockchain has the potential to revolutionize business processes in industries from banking and insurance to shipping and healthcare. Still, the technology has not nonetheless seen a major application at scale, and it faces structural challenges, as well as resolving the innovator’s quandary.
Conclusion:
Shipping industry needs to leverage new technologies and embrace ways of rethinking old processes in the digital era. While there are still many challenges to overcome, the right foundations for successful industry adoption of blockchain can ultimately unlock new value in logistics.
Want a robust blockchain-based solution for your Shipping Business? Drop us an email on [email protected] or schedule a free consultation with our team of blockchain experts who can guide you through the blockchain implementation in a specific use case.
Currently, we are living in an era, where market researchers/analysts are constantly looking for robust and reliable app development companies in their focus industry to team up with. At Parangat Technologies, we take immense pride in backing up our claim that we are amongst the leading Blockchain App Development Companies in the market, today. As an evidence, Clutch.Co, a platform that provides verified ratings and reviews has honored us with 5 Star Reviews on its platform.
When businesses hear blockchain, they’ll often link it to cryptocurrencies and little else. However, blockchain technology is increasingly becoming a feasible solution for a wide range of sectors, including:
Deloitte published a 2019 report that surveyed more than 1,300 senior executives around the world at companies with an annual revenue of $500 million USD or more. Take a look at their findings below:
Deloitte’s report after surveying more than 1300 senior executives
Based on their research, they’ve concluded that 53% of executives consider blockchain to be a critical investment and have placed in within their top 5 strategic priorities. This is a 10% increase from last year.
The blockchain landscape is maturing, which is why we’re excited to gain industry-wide recognition from Clutch, a B2B ratings and review platform that collects client feedback to rank companies!
Our ratings and reviews meter on Clutch
With 16 top-rated reviews and 5 Star Reviews Rating on Clutch, we’re also featured on its sister sites: The Manifest and Visual Objects.
Of course, we don’t just specialize in Blockchain. Our team is well-versed in developing innovative mobile apps to support our clients’ brands.
For one of our recent projects, we partnered with a grocery delivery startup to develop a set of cross-platform iOS/Android applications.
The three apps serviced our client’s users, drivers, and operational team. Once logged in, users could order groceries and pay for them digitally. A driver would then deliver the items, and everything could be monitored by the operational team.
Since our client was a startup, we also provided technical and marketing advice to set them up for success. Documenting all of our processes each step of the way helped keep everyone in the loop.
“Parangat Technologies is full of dedicated and interested workers. Their views and commitment to engaging are the best things about the company.” – Founder, Grocery Delivery App
In another project, we worked with a retail consulting firm to create an app for iOS, Android, and web.
What made this solution so special was a custom interface that would adapt to each user’s industry. This brought a personal feel to our client’s services while still showing that they’re a capable, tech-savvy consultancy.
With the help of our apps, our client’s annual growth jumped from 10%–15% to about 30%, and metrics such as average spend per user improved across the board.
We’re incredibly thankful for our clients’ reviews on Clutch and are honored to have been a part of their success, whether that was through emerging blockchain technologies or effective, cutting-edge mobile apps.
TikTok is a Chinese music video platform which allows its users to create music videos and then share them with their friends on social media like Instagram, Facebook, with animation and music. An App like TikTok helps users to set live pictures and live videos as their wallpaper and also they can share them with their friends.
There are many genres added to the application such as Rap, hip-hop, rock, electronic, and R&B. The simple and realistic editing tools that come along with the app assist in trimming, cutting, merging and duplicating the video clips. Videos that are recorded while live streaming is constantly updated with creative and fresh designs. It could be a comprehensive mix of sports, dance, comedy, animal comedy videos, or DIY, etc.
Who are the target audience for an app like TikTok?
The people who enjoy singing or lip-Syncing them or have a penchant for acting. Apps like TikTok help users to set live pictures and live videos as their wallpaper and also they can share them with their friends. These videos can also be edited with the filters provided in the application itself. Using these filters and special effects these videos are spiced up.
Additionally, it acts as a platform for millions of individuals to showcase their talents, their precious moments and knowledge they have in a video format. It also allows people to add their favorite music or sounds to the recorded video. These videos can be further edited with funny animations, sounds, music and a lot more things which make the video spicy.
Monetisation Strategy of a social video app like TikTok:
In-app Purchase: This method is commonly used by most of the apps, In-app purchase means; charging a small amount from the user to upgrade to a premium version or to unlock certain features.
Fundraising: Investors see great earning potential in these kinds of apps, therefore, they invest a huge amount of money. From a high-class investor, one can receive funding of somewhere around $50-$100 million.
Selling the app: Once the app is popular among the target audience one always has the option of selling the app to another company who understands the idea and holds the potential to take it forward to the next level.
Advertising: Advertisement is one of the main aspects of marketing for different brands. If a company has the same target audience then it is a great opportunity for them to advertise through this app as it would help them to expand and boost their sales.
What makes social video app like TikTok stand out?
Unique features: There are few additional unique features in the application with the basic features according to the customer needs. Some features are updated timely based on the feedback and reviews.
Targets a specific audience: Gives a platform to the audience who like to act and sing to have a music dubbing experience and to share it with the world.
Location-based ideas: A different community for different artists whether locality, city, town or college.
Simple UI/UX: Users belong to all kinds of technical backgrounds and age groups. The app should be easy to use for a person of 50 years of age and no app knowledge.
Some more features that can make the app unique:
Notification system: The app should help notifying the users on new uploads from their favourite or followed artists.
Geo-Location: It should enable the users to browse or find the broadcast according to their region and it also shows the broadcast on the map.
Analytics: This feature would enable the users to analyse the broadcasters in a graphical manner. It would help them to see the likes or dislikes on different videos as well as the most viewed content.
An app like TikTok is an interactive world of videos that help you connect with your friends and admirers via likes, comments and even duet songs. With so much information out there, it can be a challenge for parents to keep a check on their kids using this app.
Developing features to block offensive content, coming up with kids-friendly version of the app, adding filters to curate the content before being uploaded- can be some checksums that can be applied before coming up with the idea of a social video app. Therefore, a team of specialists that can help with the features and the security checklist can help a social video app like TikTok to reach the next level.
With the advent of apps like TikTok, Spotify, the idea and the very concept of music streaming has changed significantly. Want to know more about building an app like TikTok? Request for a free quote to reach out to us on [email protected] and our experts will get back to you with the best solution for your business.
Never have I ever found my heart filled with so much gratitude, as I find it now when I write about my experience of working as an Intern at Parangat Technologies.
I’d read about the company via a piece of article by Clutch.co that recognized Parangat Technologies as one of the Top Companies in its Leader’s Matrix. I knew I wanted to be a part of their ever-growing team! My tenure at Parangat was way more than what I could have ever asked for. This has been so far the most rewarding experience of my life. As a Graphic Design Intern, I feel my roles and responsibilities were diverse and ever-changing.
It’s hard, to sum up, all the valuable things, I have learned here, but here I mention a few of the most beneficial lessons, I have learned.
The Dream Team:
Every employee of Parangat feels motivated & encouraged as their ideas are not just heard but get the due recognition as well. They feel safe enough to take risks in their thinking and suggestions. In fact, the ideas are always discussed with our peers about what and how we’re spending our time to innovate.
Under the leadership of our UI/UX Developer, we made sure that we “hit the right note” with our customers through the delivery of excellent, on-time solutions. We had long and informative sessions on how Great app designs can lead to greater revenues!
Women’s Day Celebration at Parangat Technologies
Brainstorming Sessions on the go:
The key to being an effective guided brainstorming session is to follow viable ideas through to a point where it can be fully visualized.
While discussing the projects, after an initial round of suggestions and ideas, everyone’s thoughts were discussed in depth. The main agenda of such sessions have always been “give and take” from each other, and that’s how you create things that are totally new. Impart the knowledge you have and make the most of what knowledge other people have.
How to build my resume:
My Internship at Parangat Technologies has definitely improved my skills a ton, both off the paper and on paper. I day I started working with Parangat, I knew this opportunity can lay the definitive foundation of my career. This opportunity didn’t just turn out to be a positive learning experience, but a resume builder as well. I came into this with a resume that barely had any concrete experience, now I am leaving and I have lots of updating to do. Now, I don’t need to give my resume a makeover, it prolly needs to be started from scratch, — and this in itself is a great thing!
I also particularly loved the fact that the company was widening its technical horizons. I remember this one time they conducted an Informative session on how Applications can be developed using Hyperledger Fabric! It was a great learning experience as at the end of it, Design experts also talked about the new trends in design to make more intuitive apps.
Conclusion:
I’d like to end this article by saying that I’m extremely thankful to every single person in Parangat for giving me a chance to enhance my skills and I’ll forever be indebted to them for this amazing work experience and the wonderful learning experience they provided me with.
The rat race of competing with every other entity in the world in every field is on. The globalization of technology has made it much more difficult for any new business to flourish and reach a sustainable level. And amidst all these tensions, the most initial and crucial choice that any startup has to make is which option to choose to reach out to its potential customers. A website, mobile app or a progressive web app? What can be the best choice for the business idea?
This is a very vital choice that every startup has to make in its very initial phase of setting up the business. Since the release of the very first iPhone and the growth of mobile devices market, everyone has been treating the mobile-first business model as the new gold rush to have high accessibility and a wider range of reach to customers. Some, on the contrary to this app first culture, says that nowadays, a user is already having multiple apps. Every user is facing significant app fatigue and that users tend to use just three-four apps at most. So competing for desktop attention still remains easier. Also competing for desktop market using websites is much easier as they do not require multiple versions of code as is the case in mobile apps.
In order to answer the question, “Is it better to use an app or a website?” one cannot just compare App Vs Web and reach to a judgement. The best approach would be the one that fulfils the business needs better. For example, many of users have reported that they like to shop online using the apps but still prefer having a view of the products on their computers. So if such a business has only a mobile app, the reach would cut down to some extent. And similarly imagine what would happen if each time you decide to order a Pizza, you had to log in to your computer and go to Dominos website.
Difference Between Mobile App and Mobile Website
Definitely, we can go through this comparison once to have an idea of the pros and cons of each option so as not to end up having any false hopes. Also, this will put forward a clear idea of the benefits of each option and help any business in making the choice. Mobile apps have no doubt the ease of accessibility and can be used at any time. Also, they get you better features like personalization and a device dedicated app enhancing the look and feel along with the performance.
But web apps have an upper hand in terms of development. For a web app, one does not require to write separate platform dependent codes as is the case with the mobile app to fulfil the requirements of android and iOS market separately. Also, changes and enhancements can be implemented easily on web apps.
One more such reference to features can be understood using this image that combines the pros and cons of both technologies:
For any startup, you have to weigh your choices, analyse the effects of your choices, and look at how much you have to flourish (or diminish) if you go with the option of mobile app development or website development. For instance, give it a thought once as how it would have been if Instagram launched with a website rather than the app. It would’ve turned out a blunder, right? But one must also consider that Facebook began with a website and they did just fine.
Following are some of the vital considerations before you decide on App VS Website.
Target users
The truth is that a website for your business gives you the opportunity to reach out to a large range of users when you compare it to the reach of a mobile application. Why is this so? Google Analytics provides an answer:
The search engine traffic for a company providing analytics services in the US is presented below and it was found that just 21% of their website traffic come from mobile devices. The rest is acquired from personal computers, desktops, and tablets. (Source)
App Vs Website
For an on-demand solution type business like that of Ola or Uber or Zomato, there is no doubt that you need a mobile app. You cannot expect a user to stand outside a club and open his laptop to book an Uber, in case he is carrying it, which seems highly unlikely. This situation might give you a thought that a mobile app is an ultimate solution.
This doesn’t in any aspect mean a web app is totally out of the question. For instance, you can utilize the camera of your smartphone via HTML5. Similarly, you can also use the gyroscope (an inbuilt feature with maximum mobile devices) to play games with HTML5 and geolocation API. The look and feel as well as the performance gets better; also push notifications are available with web apps. Languages like Node.JS made these functionalities a reality in today’s world.
Advantages of Mobile App over Website
Considering today’s market, no doubt mobile app is a good way to reach a greater mob. You can make it easier and convenient for users to stay active on your app and check out any new notifications or updates through the app. Users could receive instant notifications in real-time, could access the business from anywhere, can stay active on the app throughout the time. All these perks can easily affect the choice of any startup to make a choice between Apps Vs Web. But that might not be necessary. One startup can start with having a mobile app and bringing in their website later on or the vice versa.
This way they can have a cost-efficient model and decide on which serves their purpose well. The bottom line of this choice is to start with a product (be it a website or an app) that meets your needs at this point in time. Then after you have settled-up a bit, make plans to optimize your reach on both ends.
