Scale: Related to the size, new entrepreneurs must also scale their business across various segments to prevent becoming a niche market player. OTT content can be delivered across a variety of platforms - smart TVs, smartphones, tablets, and even web-based - and being able to tap into the potential of each segment will not only amplify the company's reach, it will also help to steady its position in this new and booming market. Increasing in scale will also enable companies to drive down per-unit costs.
Ecosystem: Having an ecosystem is crucial to smart technologies and OTT is no different. When offering OTT services, firms must collaborate with other players to build their own ecosystem through which they can enhance customer experience.
Integration: OTT service providers should also consider integrating their services on social platforms like Facebook and YouTube to capitalise on the massive reach of these networks. With Facebook having crossed over 1 billion monthly active users, there are many available opportunities for companies to monetise their content on social media platforms.
Technology is enabling small players to take on the big corporations and move ahead in the race with the proper strategic vision and direction. This is certainly something that players in the broadcasting industry can learn from the retail industry, which has a history of small vendors coalescing into large players, sometimes global players over the years. Moreover, with technology constantly creating new opportunities for businesses to capitalise on, there will always be opportunities for small-to-mid sized companies to compete with their larger counterparts. In the context of OTT and the broadcast industry, ultimately, the most important judging criteria for new players and incumbent giants will be in the differentiation of services offered.
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