The new era of digital platform OTT
OTT (Over-the-top) is a very popular name to us. Once upon a time film content was just impossible without theater and television. But with the advantage of the internet, we can see all the television and film content on the OTT platforms. OTT breaks the barrier of so many things in the entertainments world. Over-the-top platforms skip conventional cable or broadcast infrastructure, instead of serving streaming video via the internet. Netflix, Disney, zee 5+ are the sample of the OTT platform.
Using an OTT service, content providers can provide content more productively and at a lower cost than conventional broadcasters. In turn, users can consume content on legion devices such as tablets, TVs, phones, and streaming devices like Chromecast or Roku. Users can stream content on-demand or tune into live streaming transmits. DSPs and ad networks are often the easiest places to start for those new to CTV due to their wide reach across platforms, lower minimum spending, cheaper cross-screen blended CPMs (i.e. CTV + mobile video), sophisticated audience segmentation, and advanced reporting options (e.g. platform/publisher-level reporting + cross-device graphs).
Even though 3rd party data and private marketplace (PMP) deals can offer a variety of niche targeting options, targeting typically cannot be guaranteed at the program or platform stage. Programmatic ad arrangements are limited to non-clickable video (i.e. mid-roll) for now, as OTT platform providers hold the keys on homepage positioning and clickable display formats.
Targeted and personalized. Targeting the customers and monitories’ the commercial is the main aim to the industrialized peoples. This is only possible in the digital platform. The traditional platform is not capable to do this according to the customers. OTT avoids standing people outside which reduces the disturbance of the brand.
A recent report found that 91% of consumers are more likely to shop with brands that send them relevant offers. Traditional TV advertising doesn’t allow that level of granularity. This is why a Roku-commissioned study found OTT ads to be 67% more productive than linear or cable TV Commercials.
However, personalization is very important to the double-edged brand. For occurrence, 35% of consumers think it is scary to see social ads for products they’ve browsed for online. Sometimes you can face embarrasses when you watch TV with your family for something creepy or intrusive. OTT Platform can give you relief from this.
OTT Includes following
Video viewers: Who has access to the video content via an app or website that provides streaming video content to the users? For e.g., HBO Now, YouTube/YouTube Red, Sling TV Hulu, Netflix, Amazon Video,
TV (CTV) users: Users can usually easily have attached their TV sets Users using TV sets attached to the internet through built-in internet connectivity (such as Smart TV) or through another gadget with functionality such as a set-top box (STB) devices. For e.g., Apple TV, Fire Stick, Roku, Google Chrome cast, Amazon.
Video service users: By monthly subscription users subscribe to a service that delivers live TV channel bundles via the internet. Advertising-based video-on-demand (AVOD): Users get to approach the content for free and is later monetized through video Commercials.
Subscription video-on-demand (SVOD): Paid subscribers can have the access to streaming video content.
Transactional based video-on-demand (TVOD):
OTT has achieved huge admiration and wide access with the burst of high-speed internet and access to the cheaper mobile gadgets. The global OTT revenue is likely to hit $150 billion by 2024 according to a Statist report. It is a massive opportunity.
When a user gets to select a reliable OTT platform, the task gets tough. With the countless OTT platforms to choose from it’s really a difficult task to select one. Below are a few basic features that you must look for while choosing an OTT platform for trustable video streaming.
HTML5 Video – High-quality and buffer-free video streaming is required for trustable and well-coded HTML5 players. A reliable HTML5 player should also include adaptive bitrate streaming to stream your videos smoothly on all devices with any internet bandwidth.
High Customization – If you want to boost your business with your OTT platform you have to make sure that your OTT platform offers suitable customizations for its video player and libraries. For e.g., you might want to have the colors of your own choice and implant your own logo.
Live Streaming Tools – You might need this feature if you’re looking to teach something online and give life lessons. Or with other features available should suffice your needs.
Custom SDKs and APIs – With the help of SDKs and APIs you can create a well-customized video streaming platform. It helps you in delivering consistent playback of video across multiple applications.
In-depth Reporting –After all that you’ve done to engage your users, you need a powerful analytics tool with some in-depth stats for the performance of your videos and customer engagement in real-time.
Customer Support – Good customer support is a spine for any business need. After all the hard work you’ve put in, you certainly need excellent customer support at the end of the day.
The Advantage of OTT
The media company that helps estimate how many people watch specific TV shows, showed a drop of 40 percent in over-the-air or cable TV consumption in the past five years by 18 to 24-year-olds according to a neoteric study by Nielsen. Now a day the young generation is involved with the OTT Platform massively. So it is very clear that of the major advertising advantage of OTT, the most important is your company’s potential ability to engage with a younger, wealthier, and a larger media-consuming population than you could through conventional programming.
The mentioned audience is also highly receptive to OTT commercials. Around 98 percent of the OTT gadget audience complete the entire ad. This means the desire to skip or fast forward through commercials, which has been alive since the early days of the VCR and DVR, has substantially died out among this part of media consumers.
Put another way: There is a large number of audiences including the young, wealthy audience. They want to watch your commercials. It’s an OTT gadget that will deliver your company’s message to them.
We tried hard to make sure to have had a fair sufficient understanding of OTT platforms. After the long discussion, we’ve learned – What OTT platforms are, how they work, their advantage, and their future. So in this space, we can reach a conclusion that OTT is one type of platform where online media content is delivered to the target customer. Besides that, we can mention that it is a convenient substitution for the TV Cable’s as well.
We know that there are countless OTT platforms available in our digital world. It is very sure that platforms have their own unique features and competence to offer. All of them are acceptable for streaming VoDs and live events. So Review your requirements carefully and grant a budget for them when you choose an OTT platform for yourself. This will help you make a more appropriate decision.