CLEARWATER, FL, January 15, 2021
Over-the-Top (OTT) media, aka streaming media such as Hulu or You Tube, has simply exploded. Coming into 2020, OTT had 44M US household subscribers. No small potatoes. Then the pandemic hit and screen time drastically increased. According to Comscore research, OTT viewership held steady for several years then viewership jumped by 30% from March 2020 to April 2020 and numbers have continued to hold strong since. So why are consumers quickly turning to OTT?
With more time spent at home, perhaps viewers just needed more options. The convergence of advanced technology and premium content has given viewers more choices of when, where, and how they consume entertainment. Viewers of OTT also have greater control over how they engage with marketing. Ads can be experienced with a choice in messaging and viewers are enabled to get offers quickly via text or email with the click of a button. Why should this make the savvy marketer in you smile?
First, OTT ads usually cannot be skipped which results in a greater than 90% view rate, the highest rate of any video format. Secondly, OTT is VERY trackable and provides advertisers the ability to place highly targeted media buys, talking to target consumers directly with much less waste and increased personalization. Lastly, data such as demographics, geography and interest categories are available and can be used to quickly optimize and improve your ROI.
New opportunities to grow your brand are exciting, but balance is key. OTT is an amazing addition to your media toolbox. It is still not the eight-hundred-pound gorilla that is linear, not yet anyway considering only 5% of OTT viewers have completely abandoned linear TV according to a recent Alphonso study. Utilizing OTT in combination with linear will increase viewership of high-value customers less accessible through traditional screen viewing and enable hyper-personalized shopping messages, all while keeping your brand top-of-mind with your core audience.
Not sure where to start? The team at Bluewater is hyper-focused on how the marketplace is trending and growing. We are always capitalizing on opportunities to connect directly with consumers, so 2020 and beyond doesn’t scare us. By staying nimble and proactive, shifting budgets to the best performing media outlets, we have been effectively growing our client’s brands despite any situational madness. And we can help you too by determining if your media mix is performing at the highest level.
To reach us for a free media mix evaluation please contact solutions@bluewater.tv.