That 98% match to your preferred movie types or TV serial genres on your favourite OTT platform is the handiwork of AI. With on-demand streaming fetching more and more users globally, it is only natural for media companies to look to AI to enhance customer experience. Let us look at how they are doing it.
AI in recommendations
AI-backed recommendation engines gather, collate, and extract user data before filtering it out in the form of recommendations.OTT platforms are some of the biggest users of such engines to push out the best content to their users. The more personalized the content is the more likely it is for the customer to remain loyal to the platform by watching more and more. Netflix Recommendation Engine (NRE) has great accuracy as it filters content on the basis of an individual’s user profile using a mix of algorithms filtering over 3,000 titles at a go using 1,300 recommendation clusters. It is no wonder then that the market size of the recommendation engines is poised to reach $12.03 billion by 2025.
Role of ads and Metadata
As users of OTT platforms you may have noticed videos on these sites have information about the visuals, the emotions, a synopsis, and the genre of the show or film such as horror, romance, thriller etc. This is the metadata on which AI can assess the scenes in the show or movie to generate teasers automatically. Meanwhile, using the same metadata, advertisers find the ideal spots where they can place the products.
Demand forecasting
User behaviour can also be predicted by OTTs using demand forecasting. They can analyze which genres will resonate well with particular audiences. Demand forecasting can thus help OTT platforms find genres for fresh content, determine what is a good time/month/period of the season to release new content, the preferred languages and so on. Some of the most watched shows on Netflix for example are from other languages such as Squid Game in Korean, Money Heist in Spanish and so on.
As the entertainment industry moves towards wider use of AI, it is the early adapters that benefit the most. Intense competition also warrants constant innovation of AI tech to boost efficiency and keep up with the trend of upward growth.
If you are interested in the metrics of OTT and how AI is driving this craze, write to us at contactus@infiniteanalytics.com and do sign up for our weekly newsletter
