Digital formats are becoming increasingly popular for media consumption throughout the world. Since the 2000s, over-the-top (OTT) video has become one of the most popular types of visual entertainment among consumers. With the launch of Covid-19, OTT video’s popularity soared even more. Time spent on AVOD has climbed from 9.3 percent in the first quarter of 2021 to a 38 percent share in the third quarter of 2021, according to a new analysis from TVision Insights, prompting advertisers to spend more.
The OTT ecosystem has been increasingly attractive from an advertising and marketer viewpoint over the last few years, with the marketing community putting larger bets on how they spend and connect with these platforms, pushing beyond the traditional ads. Taking advantage of the changing landscape and opportunities for development, media companies, such as Voot, continue to innovate to guarantee that advertisers get the most bang for their dollars.
OTT platforms risked and experimented with digital-only IPs in 2021 in order to provide consumers with premium, exclusive content that drives engagement to new heights. Option digital exclusive IPs to audiences improved viewing and time spent on platforms, giving companies with a compelling consumer engagement offering. Bigg Boss OTT was a pioneering step that brought together entertainment and brands in a new way. The IP drew in new types of businesses to advertise and participate in the digital realm, as well as brands who were already familiar with television and wanted to try out the OTT medium. With the success of Bigg Boss OTT as a case study, platforms have begun to build digital IPs in advance, which will help them link viewers with advertisers and marketers.
Marketers are finding that the OTT sector is becoming increasingly important in terms of capturing new, targeted consumers and providing businesses with a new way to improve brand interaction. In the increasingly strong fight for brand recognition and loyalty among consumers, marketers that can successfully understand the preferences of OTT viewers and the intricacies of OTT video advertising will remain top-of-mind.
