It's no surprise that Parks Associates named 2015 as "the Year of OTT." The emergence of the OTT market has contributed $25 billion in global revenue to the video industry. A study by Boston Consulting Group (BCG) also found that, while OTT currently accounts for about 5% of the video business worldwide, it is growing at a rate of 20% – which is 10 times faster than the growth of traditional TV.
Hold on. What the heck is OTT, and why is it developing so fast?