With the rate at which over-the-top (OTT) is growing, it's in every company's best interest to advertise on the platform. Even when it's a small OTT campaign, your brand can benefit from significant elements like higher consumer engagement, extensive local reach, hyper-targeting, advanced insights, and even non-skippable ads.
The average revenue per user is nearly $85.85, and the OTT market will likely grow at a CAGR of 11.01% in the next four years. User penetration on OTT platforms will likely increase from 43.1% to 49.9% by 2026.
By now, the benefits of OTT are undeniable. If this information has you wondering how to advertise on OTT, here are some helpful tips to get you started!
There is no significant difference between OTT and TV commercials, besides slight contrasts such as OTT ads tending to run a little shorter and OTT ad spots being more cost-effective.
You can utilize the same commercials for OTT and TV. All you must do is keep it flexible to align it with the proper length on the medium. When done correctly, flexibility will also allow you to target according to the analytics data gathered by OTT.
Running commercials on TV and OTT platforms will help extend your company's reach and get your presence out to groups that may be difficult to reach through TV alone. Take, for instance, generations like Gen Z and Millennials.
While you'll likely have no trouble reaching most Baby Boomers on TV, an incredible 98% of Gen Z and 95% of Millennials are on streaming services.
Moreover, TV substantially increases brand awareness, while OTT offers a more dedicated audience using targeted analytics data to reach specific customers and provide more insight into their behavior.
Together, you can do the following:
Although OTT commercials tend to be more successful when they're shorter — 30-second ads work well on both platforms. Shorter 15-second ads are only often preferred over 30-second ads because they tend to run about half the price while being about 75% as effective.
The three most important keys to creating a TV commercial that will stand out in Portland are to:
With TV's reach of a shocking 90% among adults combined with OTT's digital marketing potential, there's no better time than now to integrate the two channels. Many people also use both channels, as 79% of consumers subscribe to both TV and streaming services. That will allow you to reach more people and target/retarget viewers with the two mediums.
It's also a big reason why it would be more beneficial for your brand to partner with experts on TV and OTT.
A full-service media partner can help you create and distribute commercials on TV and OTT. That will ensure you have OTT in mind from beginning to end and gives you the unique advantage of tapping into expertise in both.