Due to the increasing availability of high-speed internet and multiple advancements in technology, the demand for video streaming services is continuously increasing. On the supply side as well, there are a lot of media companies who are jumping on the OTT bandwagon to offer video streaming services. As a result of this development, customers have a lot of content and platforms to choose from. It has also become increasingly easy for them to switch from one platform to another platform without incurring any switching costs.
However, media companies worldwide are facing a two-pronged challenge: they are spending millions to create content and they are struggling to connect consumers with the right content, and the right experience.