The TV industry is facing an onslaught of challenges as audiences fragment their time and attention across a dizzying array of entertainment options, and consumption of video content increasingly takes place on devices other than the television. OTT video, which refers to TV and movie content delivered over the Internet rather than directly from a cable or satellite service, appeals to today's video consumer by providing on-demand access to video content through any screen. By offering greater flexibility, more choices and a better user experience, these services are gaining massive adoption and have become progressively more disruptive to the pay-TV ecosystem. This report examines some of the key players, trends and challenges within this evolving landscape.