WHAT - DESCRIBE YOUR IDEA AND WHY IT IS NEEDED
My IDEA is to create a unified platform that consolidates popular OTT
services, while introducing a pay-per-content model. This approach allows
users to pay only for the content they consume, rather than for the entire
catalog. By eliminating the need for high monthly fees tied to underutilized
services, we give users direct control over their media spending. This breaks
down the barriers of content silos, ensuring users can access a wider
selection of titles and receive more precise, personalized recommendations.
The need for this is now more than ever because, with content spread
across numerous OTT services, users are often forced to subscribe to
multiple platforms to access the specific titles they are interested in. Even
when only a handful of shows or movies appeal to them, they must pay full
subscription fees for each service. This fragmented landscape results in
consumers paying for extensive libraries they barely utilize; ultimately
reduces the content they consume or may also drive them towards piracy.
Furthermore, users may not benefit from optimal content
recommendations, as the suggestions they receive are restricted to the
offerings within their subscribed platforms, limiting their exposure to
potentially more relevant titles across other services.
HOW - EXPLAIN HOW YOUR IDEA WILL BRING ABOUT CHANGE
My platform bridges the gap between user affordability and the profitability
of OTT platforms. Here is how it works:
1)User Experience: When users sign up for the app, they can choose the OTT
platforms they want access to. Instead of paying full subscription prices for
each platform, they will be charged a base fee (different for each platform,
based on their original subscription prices) for each of the chosen platform
which grants them access to a limited number of titles of their choice from
each platform which they may choose later. This reduces the burden of
paying for a large catalog that users may not fully explore.
2) Flexible Payments: Once users reach their limit of content picks within
the base fee, they can opt to pay a small additional fee to unlock more
content picks. This "pay-per-content" model gives users the freedom to
consume only what they are really interested in, rather than paying upfront
for a large catalog they may never watch. The more a user watches, the
more they pay, but at an affordable incremental rate. This also lets the user
focus on their daily lives rather than watching content all day since
everything must be paid for separately.
3) Middle Ground for OTTs: For OTT platforms, this model offers a
compromise. While many OTTs might resist an a la carte pricing model due
to concerns over lost revenue, the base fee ensures they still receive steady
income even from less frequent viewers. Additionally, users who unlock
more content through microtransactions will provide additional revenue.
We also provide the option for users to take the regular subscription for
unlimited access. While there may be a reduction in revenue generated per
user, it will be compensated by increase in the number of users. This can be
extremely useful in the reduction of piracy. Overdue course of time, the
revenue generated will exceed that of the original revenue if the
implementation is done correctly. This also enables the platforms to focus
on the quality of their content rather than quantity.
2
WHO - DESCRIBE THE POTENTIAL IMPACT OF THE CHANGE AND WHO IT WILL BENEFIT
This platform will have significant, widespread impact on multiple
stakeholders:
1)Users: The primary and immediate beneficiaries are the users who can
access all the premium content at affordable rates. For the billions of
viewers who currently turn to piracy to avoid high costs, this model offers a
legal, affordable alternative. The flexibility of choosing content and paying
only for what they want gives people value for their money which
encourages them to stay within legal streaming options.
2) OTT Platforms: The biggest challenge for OTT providers is striking a
balance between user acquisition, retention, and profitability. With many
users currently not wanting to take multiple subscriptions and opting for
piracy, this platform provides a solution that helps drive more users towards
legal consumption. By charging a base fee and offering incremental
payments for additional content, platforms can retain revenue streams
without compromising on content quality or access. OTT platforms benefit
from a reliable income source while reducing the prevalence of pirated
content.
3) Content Creators: Content creators suffer when their work is pirated, as it
deprives them of earnings and recognition. By making legitimate content
more affordable and accessible, this platform helps ensure that creators are
compensated fairly for their work. A reduction in piracy means more direct
revenue to creators, fostering a healthier creative ecosystem.
4) The Digital Economy: Piracy not only hurts individual content creators
and platforms but also impacts the broader digital economy by reducing
potential tax revenue and undermining innovation. A shift towards more
affordable, legal streaming solutions can help curb this issue, creating a
more robust and sustainable digital content industry. Governments and
industries will benefit from a better-regulated content ecosystem where
creators, platforms, and users can thrive.
