The Over the Top (OTT) media services market in India is growing at a steady pace. Native Indian OTT platforms such as Hotstar, SonyLiv, Voot, Zee5, MxPlayer, and Alt Balaji have come a long way forward. They are proving to be tough competition for popular platforms such as Netflix and Amazon Prime.
How OTT Platforms are Spearheading Programmatic Advertising
Consumption of content on the video streaming platforms continues to surge just as the ongoing COVID-19 crisis continues to impact everyday life. The pandemic will lead to a major shift in consumer behaviour as most people will begin/continue using Google Chromecast and Amazon Fire Stick or shifting to the new age smart TVs for caching and viewing OTT content. Over the last few years, many of the OTT platforms have really forged ahead in terms of incorporating new age advertising technology, consolidating the data management platforms (DMP); as well as discovering new means and methods to enhance the data by collaborating with third party established data providers, and developing new ad formats. The upper funnel of marketing is focused on awareness, reach, frequency and other kinds of brand metrics while the bottom funnel is more focused on engagements. The OTT players are combining these two funnels.
Marketers are showcasing connected TV/over the top (CTV/OTT) through their advertising campaigns. they need to strike a balance between brand building and direct response. CTV/OTT is modifiable for personalization. It is also more targetable and measurable than traditional television. Mass brand advertising can continue going forward by using CTV/OTT as a medium.