The fast-paced world of digital development can leave people with whiplash. Every day, there seems to be a new addition to the cutting-edge technology—this includes the growth of Over the Top services (OTT).
OTT helps users split up with their television by sidestepping traditional video services and opting for internet based streaming. It’s reshaped the way viewers want to consume video, how video entertainment is made and how advertising is being conducted.
They provide a platform for marketing efforts that is cost-efficient, targeted and boost insights gathering, more efficiently than traditional television. OTT services also give the consumer a better experience—they can engage in less number of ads, and those ads are specially tailored to the audience. This rich personalization leaves viewers more capable of digesting these tailored ads, and more likely to pay attention. OTT services can target viewers based on their sign-up information, zip code and watch history—something traditional television could not.
By 2021, it is predicted the United States will have close to 194.4 million OTT service users. With hundreds of streaming platform options, tailored advertisements and less binge-watching interruptions, these platforms are expected to become a widely-adopted avenue to take over traditional television.
For marketers, this means more opportunity to create thoughtful, tailored ads that are meaningful to the viewer. Gone are the days of traditional, cookie cutter advertisements. Reaching target audiences on OTT services means understanding what they want, and tailoring the advertisement to these qualities. With personalization valued at an all time high with modern consumers, brands should take advantage of opportunities to deliver customized advertisements that viewers will remember.