The media industry exists in a splintered landscape nowadays. So, selecting the best combination of delivery channels can seem overwhelming and daunting. There are many questions to answer and many concerns to conquer. And, with every second passing, the market is becoming more and more complex.
Consumers are more creative in terms of their content consumption methods. Right now, the market exists between cable, TVE and OTT solutions. But the shift is clearly towards over-the-top video consumption. Hence, it makes sense for most business owners to prepare a strategy to jump to the next stage of a media revolution.
Put a thorough plan together
First and foremost, you need a plan. A plan to accumulate the best-suited resources such as broadcast cloud services. And, define every step of execution in advance. It would be wise to have an external team of experts as a partner to plan a massive scale of launch. This will reduce the pressure and add more capable brains to the project.
Pay close attention to the content
Linear or non-linear, content holds the maximum power in the entertainment world. So, when shifting to OTT, you need to define the uniqueness of your product. This will also help to segment your target audiences in terms of content demands. You need to find a perfect mix of content to satisfy the diverse needs of an OTT consumer. Should you choose VOD or begin with a live streaming channel.
At the same time, you need to ensure that you have the digital delivery license for your catalog. For a global launch of your OTT platform, you might have to look into the specifics of geographic licensing. Hence, it is better to get involved in the re-evaluation of your content and licensing agreements. During this whole period, don’t forget to revisit the audience’s demands over and over.
Create a revenue strategy
You already know that you want to make money with your venture. But, you need to give a fair amount of time to think about the “how” of making money. There are different revenue models available to experiment with. You can consider several formats such as TVOD, AVOD, SVOD as well as hybrid models. Also, you will have to align a new revenue model with any existing distribution affiliation. You can choose between subscription-based earning, ad-based earning and other methods.
The next step should be about attracting viewers and subscribers. This will require a strategy covering your existing platforms, social media, SEO, apps, and other digital resources. These sources will help you attain visitors, who will convert into samplers, and then, to subscribers.
How data is evolving OTT advertising
OTT addressability is achievable with genuine precision in targeting on a viewer level. This happens with the collection of viewer data, then, the in-depth analysis to segment audiences into behaviors and interests. Then, the acquired behavior and interests help to create advertiser campaigns. The use of ad decision and dynamic ad insertion allows OTT advertising platformsto decide the right segment for a person to deliver an ad. This brings a tailored approach to advertising, which increases the
revenue.
True addressability allows OTT advertising to go beyond the content it is showing. Everything comes down to the collected and analyzed data to make ad delivery richer and precise. This is a sophisticated method of targeting audiences, using data related to IP address to combine all other relevant preferences.
Today, technology and addressability methods are resolving the challenges of OTT advertising. The gap is constantly reducing between the advertisers and OTT viewers with data collection. Leveraging data is and will be a crucial factor in making targeting richer and precise, and, as a result, increasing the revenue
generation with OTT advertising.
Obtain a team of experts
Don’t jump to swim alone! OTT channel launching has become comfortably easy these days due to the presence of expert services. You can acquire cloud based broadcasting and managed services from specialist agencies. Such companies provide guidance, management, and feedback in regards to your content, technology, engineering, revenue, marketing, and other factors.
So, find a reliable team to accumulate the right knowledge and resources.
About The Author
