As you may have noticed, an increasing number of your friends and family are watching TV on their own time. In fact, a recent Video Advertising Bureau (VAB) study found that the number of households using only over-the-top streaming services and devices has tripled since 2013, rising to 11 percent of all U.S. TV households.
Also known as connected TV, over-the-top (OTT) refers to TV content that is streamed over the internet — rather than distributed through traditional cable or satellite. The four major OTT services— Hulu, YouTube, Amazon and Netflix —average more than two hours a day per household.
So what are the advantages of OTT for advertisers?
Video-centric. Video engages sight, sound and motion in a multisensory connection that has historically made television the most effective advertising medium. But in the coming months and years, OTT will only continue its rise toward becoming the primary household video platform — and sooner than you think. eMarketer estimates that 58% of the U.S. population will use connected TV by 2021.
Data-driven. OTT platforms offers viewers the best of traditional and new media. And OTTadvertising combines the high engagement of television with the precise targeting of digital, resulting in a staggering 97% ad completion rate and 100% viewability. OTT advertisers can target audiences not only based on simple demographics like age and location, but also on recent habits and viewing patterns. And there's no guesstimating when it comes to viewership — you can check analytics at any time.
Mobile-Friendly. Mobile devices aren’t just content on-the-go. Consumers are viewing OTT content on their mobile devices everywhere. The TV is no longer the hub of the home, and members within a family are watching different content on different devices at the same time.
As OTT viewership continues to grow, advertisers are becoming increasingly interested in exploring the world of OTT. OTT spending has increased 40% in 2018, while linear spending only increased 1%. You don’t want to miss this train. Our media team specializes in creating impactful plans across all formats. Contact us today to learn about your OTT opportunities.