Across the globe, there is no universally accepted definition of OTT. It could be generally defined as services based on IP, traditional telecommunication or broadcast services.
is any set of online services that are considered to substitute traditional
channels of communication with audio-visual-textual services such as voice
telephony, SMS based services, Live streaming services or Video-on-demand
With the advent of OTT service providersdigital media consumption across the world wide web has increased exponentially. The primary reason behind this rise is due to the increase in the number of mobile devices that support various formats. These high-end devices have given high speed internet data access to the consumer, thereby giving them the option to access live video streaming anytime, anywhere. Correspondingly, the reach of social media has also increased and has transformed the engagement from traditional media to digital media.
traditionally maintained supremacy of the TV is being constantly challenged by
the influx of some of the best live streaming platforms and OTT service
providers. Technology has found a new home in the latest digital platforms such
as Amazon, Apple TV, Muvi, Phando, Kaltura and DaCast and the entertainment hub
has gradually shifted.
towards digital media
There has been a
significant shift in the preference of the consumer from traditional forms
(Radio, Print, TV) to digital media. The spending persona has also shifted
accordingly from conventional to modern forms. Several reports show that
spending over digital forms of entertainment has significantly increased over
the past few years.
This shift has automatically
affected the popularity of digital media and has directly increased the global
advertising spends on OTT platforms. Advertisers are following this influx in
trend and are heavily allocating their marketing and advertising budgets to
these digital OTT service providers. This has resulted due to the
cannibalization of the traditional media discussed above.
The impact of OTT
OTT service providers
and live streaming platforms have digitally transformed the economic status of
developing as well as developed nations. Also, it has greatly impacted and
increased the flow of media and information to all parts of society. With the
acceleration in the digitization process, users connected via the internet are
continuously pouring in. It has also greatly impacted the revenues and profits
for traditional network providers.
As a result,
user-generated content is now expected and is already rising to a whole new
stature and is in a state of progression. However, professionally generated
content continues to lead the league with the latest live video streaming
The OTT era has
completely changed the way of television consumption. However, the era of
television has yet not ended but there is a drastic shift in the viewing pattern
of the user due to these numerous video streaming platforms offering content
This caught the
attention of the advertisers as it carved a new way of targeted advertising.
OTT advertising is thus targeted delivery of an ad to the exact user through
the internet. OTT has expanded the audience reach of the advertisers way more
than traditional TV ads. It is also predicted that the revenue generated from
OTT platforms is expected to take a leap anywhere by 45-60%. So, this is the
time to sow your advertising seeds to reap big rewards in the future.
Smart strategies for
The OTT service
providers are still rising and nascent but have also proved to be the largest
global media advent in decades. This is the generation of the millenials who
strongly reject wait and analyse approach for their initiatives.
Compelling content ranging
from global brands to individuals has been the driving factor of this new era
of advertising. OTT solutions have delivered the power of agility by leveraging
the scalability of the internet. Advertising through OTT live tv streaming
services and platforms have given multifold benefits to the marketer in the
form of extension of new content from the media houses and deeper audience
engagement with personalized experiences. Let’s quickly browse through some of
the strategies that can be implemented for improved advertising through OTT
Define a unique content strategy – The content strategy need not be constrained to a linear approach (schedule or device). The content must be targeting a diverse user group with multiple viewing behavior.
Ensure maximum agility – The number of channels has grown exponentially and so has our digital ecosystem. The motive should always be to transform the content distribution platform to a marketing platform that can be leveraged to deliver something unique to the end-user.
Content distribution roadmap across platforms and devices – The market is full of mobile devices with a myriad of screen ratios. It thus becomes important to tap every segment i.e. the big screen (TV), the versatile screen (PC), the portable screen (Tablets, Kindles and hand-helds) and the most important screen the private screen (Smartphone). Mapping a distribution roadmap our these screen types would help in gaining and extracting the unique potential from the audience of every screen type.
Adaptive marketing tactics – Tying in segments like social media, on-air, strategic publicity and targeted advertising could help your advertising strategy create a spark. The rising new OTT providers in India are offering great monetization plans which can help in targeting a larger and customized user base and create a strong impact on its brand identity.
Aligning your content with the latest technology based solutions – Marketers can leverage the best-in-breed technology to delve deep into the OTT industry and reach the audience faster with out-of-the-box solutions. Leveraging new age technologies like cloud platforms and blockchain can help in executing a seamless process.
Advantages of OTT
OTT services providers is a winning situation for all as it currently has
maximum audience engagement as well as a huge revenue potential for
Live video streaming
services from OTT platform providers are consumed by a huge user group, which
means the advertisers can easily target their niche market across demographics.
In fact, through OTT advertising they can pinpoint the exact viewer based on
devices they are using to consume the content.
through live video streaming and on-demand content.
pinpoint the exact user gives access to accurate data-based analytics. This can
be used to identify exactly which ad is performing and which is not. These
insights can help in creating an optimized strategy for the future.
Colleen Sylvia is a technology enthusiast and an avid travel writer. Her work has been praised by various CXOs, CIOs of several technology giants and has also been a guest contributor to leading websites. She does her best writing on technology trends, OTT platform providers like Phando, entertainment, healthcare and travel beats. Colleen Sylvia loves to cook when she is not writing.