As streaming services continue to dominate modern entertainment, advertising slots are opening up by the thousands. Is your business taking advantage of this new advertising outlet?
OTT advertising — or over-the-top — gives small businesses and big corporations alike the ability to use streaming services and devices like Amazon Prime or Apple TV to communicate directly with their potential clients.
In 2018, about 90 million American homes had a paid cable or satellite TV subscription, and has been declining ever since. However, in the same year, there were more than 170 million streaming subscribers across multiple services, and the number has increased every year since.
Hulu and Roku both have broken $1 billion in annual OTT ad revenue, and more and more streaming services are adding advertisements to their platforms every day.
The ability to use sophisticated technology has led to more advanced targeting abilities for advertisers with advanced analytics data and dynamic ad tools — all for less money than a traditional TV ad spot. While the market is growing — is OTT advertising worth the money?
While television advertising requires large amounts of money, small businesses can easily afford OTT advertising, averaging $40 for about 1,000 impressions versus traditional television’s $200 depending on channel.
Streaming through OTT services like Hulu, Disney+, Peacock, and Netflix accounts for about a quarter of the time spent using their television according to a Nielsen survey. With the market growing every year, the time to begin an OTT marketing plan is now.
If you want to target a specific demographic, this is the way to go. If you’re running multiple ads and want to know which tests better with which audiences, streaming services offer all the data to deeply analyze your metrics and see which ads are working and which ads aren’t.
Whether you’re a new small business looking to break into a specific regional market, or a large firm with multiple ideas unsure which is best, OTT could be a great addition to your existing marketing plan.
When it comes to new marketing strategies, the more you know up front, the better.
The bottom line: We have been increasingly recommending launching an OTT campaign with hyper-personalized advertisements on the same granular level as social media ads.
If you’re looking to dip your toes into the OTT advertising market, we can help! Contact us today and let us help get your brand message in front of younger demographics on phones, tablets, laptops, and televisions all at once.