According to an article by eMarketer, the number of over-the-top (OTT) video service subscribers may rise to 181.5 million this year, comprising 54.7 percent of the total population in the country. These numbers indicate that more viewers prefer watching through online streaming sites than on traditional cable TV.
As consumers of online video streaming increased, paid cable TV subscribers decreased, with more than 39.3 million users in 2019 cutting their cable TV subscriptions. It’s evident by now that there’s a shift in consumer preference regarding where they watch their shows.
This shift should prompt you to revisit your advertising strategies. Since your primary goal is to reach your audience and let them know about your brand, your products, and your services, you should also be present on whatever platform they’re in.
OTT advertising services help you reach this goal seamlessly. Find out why OTT advertising is worth investing in.
OTT Advertising: The Next Big Thing
Over-the-top video service refers to the platform where videos and advertisements stream. It refers to the content providers that stream media directly to the viewers through the internet. OTT bypasses multichannel television, telecommunications, and broadcast television platforms in distributing advertised content.
OTT is different from advertising on connected TV because the latter refers explicitly to the device where your consumers stream online content. These devices include smart TVs with an internet connection, gaming consoles, and set-top boxes you can connect to your regular TV for internet access.
Benefits to Your Business
OTT advertising delivers highly engaging, targeted content.
A Freewheel study reveals that OTT viewers complete 98 percent of video ads, compared with the lower completion rates on non-OTT devices. Streaming video viewers on connected TV exhibit a higher level of brand awareness and brand favourability than desktop users.
Additionally, a recent streaming meter data report by Nielsen shares that consumers with OTT devices at home spend one out of every ten minutes of TV usage with OTT platforms. Users can access content through a variety of interfaces where they slowly grow accustomed to OTT as a primary form of input.
An advantage of using OTT is that it has the capability to precisely target viewers down to their zip codes, through gathering and analyzing factors like demographics, interests, and lifestyle. Advanced analytics allow advertisers to target audiences directly and measure OTT campaign results effectively.
OTT platforms are closed, controlled streaming systems. Your viewers can’t skip ads, jump to another browser, or install an adblocker; therefore, they’re forced to watch your advertisement from start to end. This practice increases your brand awareness as viewers wait for your ad to finish between shows.
Virtually, the OTT advertising market is untapped. Currently, it’s the only alternative to traditional TV commercials. Through OTT advertising, you can market your brand to your target audience through non-skippable ads between videos and shows streaming online.
OTT platforms include sites like Hulu, Roku, HBO Go, Netflix, and Amazon Prime. Not every online streaming platform provides ad services, so if you want to tap into this type of advertising, you should look up which sites allow you to insert your ads.
Investing in OTT advertising allows you to reach a broader range of audiences, tapping into traditional TV users and those who prefer online streaming. Unskippable ads help increase your brand awareness because most viewers, including your target market, will likely see your advertisements.
