As a broadcaster in the OTT space, a crucial component of your job is staying on top of trends in viewership. Many viewers aren’t consuming news and entertainment from cable anymore. Instead, they’ve shifted to OTT video streaming services to watch whatever they want, whenever they want it.
Why broadcasters are turning to OTT
The ways people consume news and entertainment is quickly evolving. Over 82 million American households currently stream content every month, and since January 2020, the number of Americans using OTT streaming platforms has increased by 20%. As OTT services continue to grow, if your company wants to earn maximum viewership, adding streaming is necessary.
More and more people rely on digital devices for easy access to entertainment and news consumption. OTT streaming platforms give on-demand access to several types of content, including live news. Viewers can tune in from anywhere with a stable high-speed internet connection and watch the news when it breaks. There are nearly 50 OTT streaming platforms in North America alone, with big names like Netflix and Hulu among the most well known. Roughly 70% of U.S. households have at least one streaming service in use, and the average American viewer uses between three and four services. The money is where the viewers are, so turning to OTT is necessary if you want to maximize your audience and revenue.
In addition to the surge in streaming, advertising-based video-on-demand (AVOD) is becoming one of the hottest business models in the OTT streaming space. In 2021, OTT ad spending came to a total of $81.9 billion. As AVOD audiences grow, many advertisers are making their ad buys around matching their products to what viewers using a particular streaming platform might want to see. Accordingly, more and more stations are adding OTT to their broadcast plan. OTT is appealing to advertisers because of higher viewer-engagement levels on OTT platforms and increased demographic and other information that can drive more informed viewer targeting.
For example, advertisers can modulate their ad frequency to track streaming viewing behavior, like “binge watching” (viewers who watch more than two episodes of a particular show in a single viewing). These ads are meant to target those streaming over a long period and can be specific to the show being watched. Advertisers buying binge viewers is another reason to add OTT to your broadcast plan. This can deliver more ad buys, and if binge watchers consistently return to the shows they’re watching, your advertisers are likely to continue buying your air time.
Pay close attention to your audience demographics and their expectations from an exceptional OTT streaming platform. Once you’ve determined your target audience, develop a plan to market specifically to them. Simplify your broadcast experience by searching for an OTT streaming platform with proven expertise working with broadcasters across a wide range of challenges and opportunities.
Use an OTT streaming platform to integrate OTT into your broadcast distribution and advertising strategy
Advertisers are actively shifting to OTT, but don’t worry: They’re not leaving traditional broadcasts. They’re finding ways to expand their ads to both channels, which means it’s necessary to have a strong understanding of both audiences.
To maximize your OTT streaming experience, look for an OTT streaming solution and ensure your broadcasts consistently receive high viewership and engagement. OTT streaming solutions come with several features, like geo-fencing and multi-language support to take your content to a global audience. A combination of linear and VOD solutions also allows your audience to access aired shows to watch from the archives at their convenience.
Top OTT platforms also provide deep real-time analytics for you to gauge viewer behavior constantly. Ensure your company stays on top of the trends by utilizing an OTT streaming platform with proven data and analytics tools.
Improve your broadcast distribution strategy with ViewLift
Increase your live news audience by streaming on OTT, and provide outstanding experiences for your customers with ViewLift. From dynamic ad insertions to simplified cloud-based operation, ViewLift has numerous purpose-built features to help maximize your ad revenue. Contact us to learn more.