Technological advancement is at the heart of the way we live and interact.
Over the last few years, content consumption has seen innumerable developments. During the previous three years, OTT (over-the-top) platforms have garnered a lot of attention, changing the way we consume content online wholly.
India’s OTT video market is set to boom at 21.8 percent CAGR from Rs 4,464 crore in 2018 to Rs 1,1976 crore in 2023, estimates a report by PWC.
OTT platforms are gradually taking the lead in the Indian entertainment sector. In another report by KPMG and EROS now, it was predicted that 38 percent of the total people subscribed to OTT platforms are fully satisfied by the content and will happily give up on traditional media content such as TV, etc.
As these trends indicate a rise in the number of viewers from traditional mediums to digital mediums, content marketers have begun leveraging OTT platforms as an indispensable advertising tool.
Several brands and marketers are embracing OTT platforms as a marketing tool and expect to win a hefty advertising budget in 2021. OTT platforms bring the precision targeting programmatic marketing and the charm of television advertising to create the perfect advertising mix.
Internet penetration in India has entirely changed the country’s landscape for the better. In 2021, the internet penetration went up by 45 percent, which resulted in an overall increase of 75 percent viewership in OTT app subscriptions during the lockdown.
In a few months, OTT platforms have come up with better content to attract even more eyes and hook viewers to the platform.
People are becoming used to catching the latest flicks on Netflix, Amazon Prime, Hotstar, and other emerging OTT platforms. Marketers worldwide look at leveraging a more personalised way of advertising to reach their target audience and amplify the Return on Investment via OTT platforms. With the numbers indicating growth of OTT platforms, marketers are gearing up to rely on OTT platforms as a virtual channel.
From large companies to startups, everyone is welcoming OTT platforms for innovative and data-driven campaigns. With companies emphasising remote working, it is a fruitful time for content marketers to pursue marketing via OTT platforms. Your Story