The OTT advertising definition is film or television content that is provided using an internet connection instead of a satellite or cable tv provider. TV viewers who are unhappy with their high rates for their current TV subscription service have decided to cut the cord and use watch their favorite shows and films using a connected TV device instead. While the content on these devices is not always free to watch, it is often available at a much lower cost. Plus, the viewer has more freedom to choose what they want to watch, instead of the limited options available to them on broadcast TV or cable.
What is Connected TV and The Basics of OTT Content
OTT viewing rose in popularity after the streaming giant Netflix was introduced. After the interest in Netflix’s DVD-Through-The Mail method started to decline, the company began adding more streaming titles to their library. Now known as one of the top streaming services, Netflix has paved the way for other similar companies. And at the same time, it has helped the advertising industry come up with innovative and successful ways to sell their products or services.
OTT is a fast growing resource to the television and advertising industry, and it is continuing to rise in popularity. This is especially true with the younger viewing audience. More millennials have chosen to cancel their cable or satellite TV subscriptions and strictly use streaming platforms instead. While some may argue that signing up for so many separate services like Netflix, Hulu, and HBO Go may end up costing just as much as a cable or satellite subscription, that is not the case. Even if you sign up for several streaming providers at once, the total cost is still a fraction of what most basic cable or satellite plans are once you are no longing paying the cheap promotional monthly price.
While Advertising to OTT Viewers Can Help Your Business Grow
If your company’s marketing strategies are not working as well as before, it could be due to the lack of advertising success on broadcast TV. Companies still using traditional TV commercials for their ads have seen a decline in their success because more people are cutting the cord and turning to OTT content instead. Using methods such as Hulu or Apple TV advertising can help you narrow down your target audience and reach out to more customers who will likely buy what you are selling.
As more people see the benefits of using connected TV streaming services to watch all their favorite types of content, there will be more advertisers learning how to show their ads on the same platforms so they may reach out to a broader target audience and stay ahead of the competition.