The state of today’s OTT industry offers consumers unprecedented choice when it comes to how and when they watch sports and entertainment programming, leaving content owners with the challenge of not only meeting high expectations, but continually exceeding them to keep their audience engaged, watching and - most importantly - happy. With all the direct-to-consumer options now available to consumers, content owners are in a constant battle with the competition for consumers’ attention.
These challenges are often prime opportunities to further develop your OTT service and pull past the competition. To do so, you need to unleash the power of your content and unlock your audience, sparking a chain reaction to reveal new streams of untapped digital revenue.
First and foremost, understanding consumer viewing habits, also referred to as consumer “watch data” is critical. This is the foundation of your digital business. As consumers connect, transact and stream content, audience data or “watch data” should be collected to provide meaningful insights into engagement patterns. These data metrics are significant to driving programming effectiveness, marketing tactics, audience activation initiatives and more, resulting in increased customer loyalty, lifetime value and higher conversion rates.
Now that you know more about your subscribers, one advantage of over-the-top delivery is the ability to create flexible and dynamic content packages, playlists and virtual channels. Group your linear channel programming together into content packages based on various category types or other metadata tags and offer it to your subscribers through either a subscription or pay-per-view model. You can also take your VOD catalog and create custom playlists and virtual channels on the fly, which are surfaced and played out on your OTT service like traditional broadcast channels. All these content packages and playlists should be based upon your subscribers’ viewing trends and behavior patterns to help increase viewing times and subscriber retention.
Flexible and dynamic content also creates new outlets to drive significant increases in revenue dollars. To take that a step farther, with OTT you can seamlessly deliver ads to a targeted audience by being able to implement ad campaigns based on various business rules such as geographic region, device usage, content preferences among others. Incorporating non-skippable, hyper-targeted ads pleases both the advertiser and your subscribers. The advertiser sees attractive performance metrics and higher CPMs (cost per thousand), whereas your subscribers are served ads that are more aligned with their interests. It’s a win-win situation.
The future belongs to OTT services that can personalize the viewing experience through engaging, interactive features, targeted ads, flexible content packaging and more, all backed by in-depth watch data insights.