The Rise of Short-Form Video Content on OTT Platforms: Opportunities and Challenges for Entertainment Industry
Over the past few years, short-form video content has emerged as a major trend in the world of online video. Driven by the rise of social media platforms such as TikTok, Instagram Reels, and YouTube Shorts, short-form video content is now becoming an increasingly important part of the video-on-demand (VOD) landscape as well. OTT platforms such as Netflix, Discovery+, and YouTube are starting to experiment with short-form video formats as a way to attract and retain audiences, particularly younger viewers who are accustomed to consuming content in bite-sized pieces.
In this article, we will explore the rise of short-form video content on OTT platforms, and examine the opportunities and challenges it presents for creators and brands. We will discuss the different types of short-form video content that are currently popular on OTT platforms. Finally, we will explore the future of short-form video content on OTT platforms, and the potential for this format to continue growing and evolving in the years to come.
The rise of short-form video content on OTT platforms
The rise of short-form video content on OTT platforms is one of the most significant trends in the world of online video. Driven by the popularity of social media platforms such as TikTok, Instagram Reels, and YouTube Shorts, short-form video content is increasingly becoming an important part of the video-on-demand (VOD) landscape as well. Netflix is expanding its short-form video feature, “Fast Laughs,” to TV screens. Previously available only on mobile devices, the TikTok-inspired feed of funny videos serves as a way to introduce users to new shows, movies, and comedy specials. The move to bring “Fast Laughs” to TV screens indicates Netflix’s desire to retain user attention in the face of competition from rival video apps like TikTok, Instagram, and Facebook’s Reels. The goal of “Fast Laughs” is to encourage users to add content to their watchlist or start watching them immediately after viewing a short video teaser, rather than to develop a social platform.
One of the primary reasons for the rise of short-form video content on OTT platforms is the changing habits of viewers. With the proliferation of mobile devices and the increasing availability of high-speed internet, viewers are now watching video content on the go more than ever before. Short-form videos, which are typically under 10 minutes in length, are well-suited to this kind of viewing experience. They can be easily consumed during a short break or while commuting, and are often more engaging and shareable than longer-form content.
Another reason for the rise of short-form video content on OTT platforms is the popularity of social media platforms. Platforms like TikTok and Instagram have made short-form videos a central part of their user experience, and users have become accustomed to consuming and creating this type of content. As a result, OTT platforms are now looking to leverage the popularity of short-form videos to attract and retain users.
Examples of short-form videos on OTT platforms
Several different types of short-form video content are currently popular on OTT platforms. One example is short-form documentaries, which are typically under 20 minutes in length and focus on a particular subject or theme. These types of videos are often highly engaging and can be used to educate viewers on a particular topic. Another example is short-form scripted content, such as web series or sitcoms. These videos are often highly entertaining and can be used to build brand awareness and attract new viewers.
Fast Laughs on Netflix: As mentioned earlier, “Fast Laughs” is a feed of funny videos that serve as a way to introduce users to new shows, movies, and comedy specials. Each video is a short clip, typically under a minute long, and is presented in a TikTok-style vertical format.
Discovery Plus Shorts is a feature on the Discovery Plus streaming platform that allows users to watch short-form video content. These videos are typically under 10 minutes in length and provide a quick and easy way to discover new content on the platforms.
The Shorts feature on Discovery Plus includes a wide range of content, including behind-the-scenes clips, interviews with celebrities and experts, and quick how-to guides. Users can easily browse through the Shorts library and discover new content based on their interests. One unique aspect of Discovery Plus Shorts is that the content is organized by topic or theme, making it easy for users to find content that matches their interests. For example, users can browse Shorts related to cooking, home improvement, wildlife, or travel.
YouTube Shorts is a feature that allows video content creators to create short-form videos that are 60 seconds or less in length. These short videos are designed to be quick and easy to consume, making them ideal for mobile devices and social media.
YouTube uses Shorts to provide a new way for creators to reach a wider audience and engage with their fans. Creators can use Shorts to showcase their creativity and storytelling skills in a short amount of time, and viewers can easily discover new content and creators.
Short-form videos – opportunities
Attract new users
Short-form videos are an effective way to attract new users who may not have heard of or tried the platform before. By offering a quick and entertaining way to preview shows, movies, and comedy specials, OTT platforms can entice viewers to sign up and start streaming.
Short-form videos can increase user engagement by providing a quick and easy way to discover new content. By offering a continuous feed of short videos, users are more likely to spend more time on the platform, exploring and discovering new shows, movies, and comedy specials.
Short-form videos can also improve user retention by keeping users engaged with the platform. By regularly offering new and entertaining short videos, users are less likely to cancel their subscriptions and may continue to discover new content over time.
Short-form videos are highly shareable and can be easily shared on social media platforms, increasing the reach of the OTT platform and potentially attracting new users.
Short-form videos – challenges
While there are many opportunities associated with short-form video content on OTT platforms, there are also challenges. One of the main challenges is the need to create highly engaging content that captures the attention of viewers in a short amount of time. Creators and brands need to be able to tell a compelling story and convey a message in just a few minutes, which can be difficult. Additionally, there is a need to effectively monetize short-form video content, as traditional advertising models may not work as well in this format.
The future of short-form videos on OTT platforms
According to a report by eMarketer, the number of US adults who watched short-form videos (defined as videos shorter than 10 minutes) on mobile devices was expected to reach 182.9 million in 2021. This represents a significant increase from 2020 when the number was 170.1 million. Furthermore, the report forecasts that this number will continue to rise, reaching 198.5 million in 2023. Moreover, according to a report by Business Insider Intelligence, short-form videos are predicted to be the most successful format for mobile video advertising, with a projected growth rate of 27.8% from 2020 to 2024.
These statistics indicate that the future of short-form videos on OTT platforms is bright, and there is a significant market for this format. As the popularity of mobile devices and UGC (user-generated content) continue to rise, along with the emergence of new technologies, short-form videos are likely to remain a popular and effective format for both consumers and advertisers.
In conclusion, the rise of short-form video content on OTT platforms is a trend that is likely to continue in the coming years. As viewers continue to consume more video content on the go and social media platforms continue to gain popularity, short-form videos are becoming an increasingly important part of the online video landscape. While there are challenges associated with this format, the opportunities for creators and brands are significant, and the future of short-form video content on OTT platforms looks bright.