The growth of the Internet of Things (IoT) and Over-the-top content (OTT) is a direct result of an increasingly connected world. As more of the devices we use every day become connected to the global network, the need for reliable, secure, and unlimited internet access expands as well. The tricky part for telecommunications companies has proven to be in keeping up with the soaring demand.
Verizon is on a mission to exceed the expectations of its customers, at both the consumer and business levels. By offering unlimited wireless data plans, the carrier is making consumers happier while also attracting more business customers to their vast global network.
Though unlimited plans are becoming an industry trend in the telco space, Verizon is aiming to dominate the market by positioning itself as the go-to carrier for all things OTT and IoT. With everything from wireless and data connections, to phone systems, to security applications and more, the carrier’s services, expertise in the sector, and access to big data make it an increasingly attractive partner for businesses that are looking to get more out of their connection to the online world.
Entering the OTT space
With plans to launch their very own internet television service coming to fruition this summer, Verizon is gearing up to enter the OTT market, full steam ahead. The company recently finalized the purchase of Yahoo and has merged the internet business with AOL, also owned by Verizon, under a new entity called Oath.
Oath, headed by AOL CEO, Tim Armstrong, will focus on worldwide expansion in the media business. It currently comprises of over 50 media and tech brands and will be using the roughly 1.3 billion monthly users of Yahoo and AOL as a testing ground for Verizon’s new streaming platform.
Verizon already has services operating in the sector, with the likes of FiOS and go90 providing home TV and streaming video to current customers. Oath is set to offer OTT services independent of these products, enabling customers from other carriers to subscribe to the new internet TV platform. Details are still being hammered out and rights to content are being purchased so the final form of Verizon’s offering is yet to be seen, but that doesn’t stop the company from using this expansion to increase its market reach.
For Verizon, the expansion into OTT makes good business sense from more than one perspective. Having access to a solid network, along with an abundance of user behaviour and usage knowledge, is invaluable to entrepreneurs and companies in various industries. Being able to offer more in-demand products and services to consumers, while simultaneously drawing on behaviour and usage stats to help other companies identify places to improve their own business strategies, is an ideal combination for the telecom company.
Forming smart partnerships in a data-heavy market
The “wait and see” approach will have to suffice for now in terms of Oath’s overall success. Nonetheless, Verizon is leveraging its network now to turn usage data into industry knowledge. The carrier is actively seeking more traffic, especially the heavier traffic that other telecom providers have tended to shy away from like WhatsApp voice traffic or Dropcam CCTV footage. This sort of heavy data traffic provides new opportunities for both Verizon and partnering companies.
Unlimited data plans help Verizon utilize the masses to assess and improve their coverage, service, and overall understanding of the market. Opening this slew of information up to companies positions the telco giant as a leader and attractive partner in the tech world. Through smart partnerships with disruptors in all sorts of sectors, a mutually beneficial ecosystem is being established.
Solink, a cloud-based solution for video recording, loss prevention, and investigations, is a prime example of how a partnership with Verizon can help both businesses flourish. By using Solink’s retail CCTV analytics to assess data usage, Verizon can identify “sticky” retail clients and aim to improve their Wi-Fi connectivity.
Another example of a business that partners with Verizon to disrupt things in its sector is CounterPath. As a software platform for desktop and mobile VoIP services, the company makes use of the network to enable OTT voice products and solutions for enterprise clients.
Similarly, Wesley Clover Solutions offers an office trading platform which drives redundant broadband connectivity and multiprotocol label switching (MPLS) routes between locations through the Verizon network. Understanding how this high-performance traffic flows and what kind of connectivity is required to keep it stable helps both companies improve their services.
Using big data to create new opportunities
The real value of the information flowing over Verizon’s global network comes in the form of big data. The carrier helps companies capture this data and, through interdependent partnerships like those mentioned above, provides them with tools to manipulate and analyze it in ways that ultimately aid them in understanding their business better.
This access to big data creates a robust relationship between Verizon and its business customers. Focusing on delivering end-to-end solutions and establishing new revenue streams for companies, Verizon’s OTT and IoT services will accomplish two main things: improving connectivity around the world and providing new opportunities for its business customers.
The extensive consumer data available through the Verizon network, as well as the data and access to services pertaining to a particular business or industry’s needs and goals, ensures that the carrier maintains its position as a leader in the ever-evolving telecommunications space. Collaborating with companies like Solink, CounterPath, and Wesley Clover Solutions makes way for the development of advantageous partnerships with even more potential benefits to all parties involved.
Although competition in the OTT realm is fierce, Verizon’s full-court press might prove to be the most effective strategy yet. By focusing on building out fiber and 5G wireless networks to reach even more customers and deliver content to them at an even faster rate, the telecom company is developing in this new direction with a loyal base of consumers and business partners.