The OTT platform has never been more popular for advertisers. Digital marketers have taken note of just how many households are cutting the cord and exclusively using streaming services to view content. OTT stands for over-the-top—an industry term used to describe accessing programming without a cable or satellite TV provider. OTT programming only requires a stable internet connection and an internet-ready device. Smartphones, tablets, laptops, Smart TVs, and more can be used for OTT content. The viewer will then use streaming applications to view digital videos.
OTT app development has been streamlined to get more and more content creators online. Streaming services launched approximately 15 years ago with YouTube considered the first OTT platform. A couple of years later, Netflix and Hulu launched their streaming platforms. Today, dozens of OTT platforms are available for download. OTT platforms used by advertisers include Amazon Prime Video, Peacock, Paramount Plus, Discovery Plus, Vudu, IMDB TV, and Sling.
The OTT market will continue to attract advertisers because of its projected viability. Statistics demonstrate that in 2019, the OTT market had a value of $121 billion. By 2027, the value is expected to be worth over $1 trillion. OTT platforms will have a total subscriber base of 2 billion by 2025. With 2 billion subscribers, marketers will have unprecedented access to viewers who are ready to engage with new brands.
The OTT platform means the inclusion of streaming devices such as Roku, Amazon Firestick, and Chromecast. As one example, Roku offers dedicated advertising options, specific to its platform. Marketers can choose from 15 to 30-second video ads, interactive media ads, and overlays.
OTT platforms work off of two central types of business models: subscription-based and ad-based. Subscription-based services may offer an ad-free viewing experience for an extra fee. The most popular type of streaming service is ad-supported. With ad-supported OTT content, media is played with commercial breaks. The ads may appear before a program starts, mid-program, and as credits roll. Depending on the platform, ads may need to be viewed entirely and not skipped before completion. Completion rates of OTT ads are substantial with an average of 90 percent or more.
Select platforms net more ad revenue than others. According to eMarketer, half of all OTT ad revenue will come from YouTube, Hulu, and Roku. The ad revenue surge comes from the average person spending at least 80-minutes a day viewing OTT content. Marketers have more ad options when deciding to launch an OTT platform too. The format allows for more than just a traditional 30-second commercial spot. Ads can be interactive with online connections permitting a near-instantaneous Call-To-Action.
OTT platforms also give flexibility about when ads can be run. Not all businesses can afford a national network commercial during a major sporting event or awards show. Through OTT platforms, brands can choose to bid on ad space based on the popularity of the spot and target audience. OTT ads can be streamed during live programming, including sports games, awards shows, season premieres, and season finales.
OTT Platforms Full Form
An OTT platform is a space where marketers and consumers come together. There are several types of ads that appear on OTT platforms, but a selection of the most popular includes:
- Interactive ads. For interactive OTT ads, viewers can use their remotes to access the brand’s landing page. As an example, if the brand is advertising a band, the internal link could bring the consumer to a page where concert tickets are sold.
- In-stream ads. In-stream ads can appear throughout a movie or TV program at various intervals. The ads will not be skippable and last between 15 and 30 seconds.
- Static ads. Home screen and pause button ads can be placed within an OTT platform. The ads stay in place and will usually include a specific Call-To-Action.
OTT platforms full form include Pluto, Hulu, Amazon Prime Video, and Apple TV. These platforms are among the most popular in the United States. Globally, marketers can access even more options. For instance, the most popular OTT platforms in India include Eros Now, Zee5, and Sony Liv.
An OTT platform app will bring elevated awareness to a brand. Digital marketers need to make an OTT platform a part of their marketing strategy. Ads developed can engage consumers at every step of their relationship with the brand. Targeted ads can be used to initiate brand awareness and then build trust. Marketing goals with OTT platform ads should include increased social media clout, improved sales, and heightened brand image.
OTT platform marketing involves more than simply choosing where to advertise. Once a marketer selects a platform, the company needs to fine-tune the creative to meet any specifications. Most importantly, video ads should be developed to look exceptional on a variety of screens. OTT content can be displayed in 4K UltraHD or run on any mobile screen. The creative should look good no matter where the ad is displayed. OTT ads run on full-screen with every pixel on display.
OTT ads are delivered at any time, during live programming and on-demand streaming. Brands, even those working within a budget, can have their ads displayed on content with high viewership numbers. With nonskippable ads, viewers will have to watch content from start to finish.
With OTT marketing, advertising dollars are spent in a very targeted manner. Marketers can target viewers on more than just geography. Advertisers can target based on the type of content the consumers are watching and what times of day they’re viewing the OTT media. A targeted marketing plan will also include where consumers are streaming from. Are they using Amazon Prime Video? Or are they more frequently Hulu users? How are they watching the OTT content? Are they using their smartphones? Or are they streaming from their gaming consoles? The answers to these questions help with creating a fine-tuned OTT marketing strategy.
The ideal OTT platform list will include services that don’t allow for skippable ads. Although YouTube is a streaming service, ads are skippable throughout the space. Moreover, YouTube isn’t considered a premium OTT TV app. YouTube isn’t primarily used to stream network and cable programming. The application is typically more geared towards amateur-generated content creators.
OTT examples should also exclude any services that don’t permit ads on their platform. Popular OTT platforms like Netflix currently only gain revenue through subscribers. Some OTT platform examples give several subscription options. Subscribers may access content ad-free, but at a higher monthly cost. Ad-supported versions of OTT apps are among the most popular. For instance, as of 2021, Hulu had just under 40 million subscribers. Additional OTT apps examples are:
- Apple TV. The OTT platform is home to numerous popular TV shows, including Ted Lasso and The Morning Show. Apple TV produces exclusive content that can’t be streamed on any other platform.
- Paramount Plus. Paramount Plus is a relatively new platform that came off a rebrand of CBS All Access. The platform includes programming from CBS and Nickelodeon. The platform also produces exclusive content for subscribers, including the new Star Trek series.
- Peacock. Peacock is NBC’s streaming platform and includes premium and free subscription options.
- Hulu. Hulu is owned by Disney, but offers a larger library of TV programming. Many new episodes of network TV shows premiere the next day on the Hulu platform. Furthermore, Hulu Live is the most popular live streaming service currently offered. Additional popular live OTT platforms include Sling and Fubo.
Top 10 OTT Platforms In World
The top (OTT platforms in the world) can change from month to month. On a routine basis, the biggest OTT platforms in the world adjust based on the popularity of content. For instance, Funimation was never one of the biggest OTT platforms in the world, but recently saw a surge in subscribers due to high-quality anime content added. Keep in mind that advertisers can access all of the best OTT platforms in world without being available for streaming in the United States. Some OTT platforms have restricted viewing based on the consumer’s location.
The current list of OTT platforms in world with the highest number of subscribers are:
- Netflix. Netflix is the top service with availability in 190 countries.
- Amazon Prime Video. Amazon’s streaming service is included with the company’s Prime membership option.
- Spotify. Spotify is considered the top audio streaming service in the world.
- Tencent Video. This OTT platform is based out of China.
- QIY. The Asian service provider plays a variety of dramas, comedies, and anime.
- Disney Plus. The service plays content produced by Disney.
- Youku. YouKu is a Chinese video streaming service.
- Viu. This OTT service is based out of Hong Kong.
- Hulu. Hulu is one of the most popular streamers in the United States.
- Eros Now. Eros Now is a top pick in India.
Top 10 OTT Platforms In USA
For advertising in the United States, marketers need to look at what the top (OTT platforms) are. The best OTT platforms in USA will have a substantial number of subscribers and have a business model that consistently updates their offerings. The following list of OTT platforms in USA will only include those with ad space available.
- Amazon Prime Video
- Amazon Music
- Paramount Plus
- HBO Max
- ESPN Plus
- Apple TV Plus
Contact Keynes Digital today to learn how to get your brands to appear on the top OTT platforms around the globe.