Announcements, analysis and opinions on industry trends around the mobile programmatic world.
In the modern Indian household, a TV screen is no longer just a portal to cable channels and pre-scheduled programming; it's a gateway to a dynamic and engaging world of on-demand content. A staggering 74% of Indian households have embraced the digital wave, transforming their connected TVs into powerful tools for streaming content. This shift is not just a change in viewing habits; it's a full-blown revolution.
At the forefront of this transformative journey stand Connected TV (CTV) and Over-The-Top (OTT) platforms, which have seamlessly blended to redefine how families consume video content. Gone are the days when a family's viewing choices were limited to what was airing on traditional television. Today, whether it's the excitement of live cricket, the latest blockbuster movie, or a beloved regional series, OTT platforms offer a diverse array of entertainment options that transcend the boundaries of conventional TV.
What makes this shift even more significant is the extraordinary value proposition CTV and, especially, OTT presents. OTT not only enhances the viewing experience but also reshapes the foundation of how we interact with video content. Let’s explore the role of OTT platforms in CTV advertising, its impact, and real-world applications.
In the mediasmart CTV 2.0 report, 41% of respondents claimed that they are more likely to watch OTT content as compared to creator content on CTV. This rapid adoption of OTT platforms among Indian consumers has catalyzed the CTV advertising space.
Whether it's a niche documentary series, a regional language drama, or a globally popular show, there's a spectrum of content catering to varied interests and demographics. This diversity is not just about entertainment variety; it represents a multitude of advertising opportunities, allowing brands to align their messages with specific content that resonates with their target audience. Regional OTT apps, such as Hoichoi or SunNXT, have been found to have flourished in this space, giving advertisers access to specific audiences to target.
OTT platforms have brought about a significant shift, especially in regional play among Indian consumers. A recent PWC report found that while the global growth rate of OTT segment is 8.4%, India is way ahead with a CAGR of 14.32%. Furthermore, mediasmart CTV 2.0 report states that viewers switch between OTT apps depending on the content they want to watch. The report also highlighted that OTT is the most preferred choice among Indian CTV viewers wherein 66% have subscribed to more than one OTT app.
Let’s face it. The reason OTT platforms are a preferred choice is the convenience of streaming content on-demand. It means families can enjoy their favorite shows and movies together, irrespective of their hectic schedules, forging stronger family bonds through shared experiences. With viewers having the ability to choose from an extensive selection of content ranging from global hits to regional favorites to watch at their convenience, these platforms have posed an exciting opportunity for CTV advertisers.
By leveraging the data-rich environment of OTT platforms, CTV ads are tailored to the preferences and interests of the viewing household. This targeted approach ensures that the advertisements are relevant and engaging, enhancing the overall viewing experience. For families, this means seeing ads that are more likely to resonate with their collective interests, be it for family vacations, home products, or entertainment choices, making the ad breaks less of an interruption and more of a curated part of their viewing experience. Additionally, with viewers more invested in the content, the ads placed within these environments are likely to garner more attention, translating into higher engagement rates.
Moreover, the flexibility of CTV advertising models, including the option for shorter, non-intrusive ad formats, aligns well with the modern family's viewing preferences. This sensitivity to viewer experience is crucial in maintaining the seamless and enjoyable nature of family entertainment on OTT platforms.
As CTV viewing is becoming a family viewing phenomenon in India, advertisers bring forth unique narratives that resonate across the multifaceted tapestry of family structures, backgrounds, and cultural distinctions. Advertising on OTT platforms offers an additional incentive for CTV advertisers due to its streamlined and flexible programmatic ad-buying processes. This ease of placement, combined with precise targeting and real-time analytics, makes OTT an attractive and efficient avenue for CTV advertising campaigns.
“Even big movie blockbusters now debut on OTT platforms before hitting linear television, catering to families seeking shared entertainment. CTV is also preferred by families to watch re-runs of their favorite shows or explore new genres like gaming together. We expect CTV consumption to further accelerate the festive period on the back of family viewing as well as the cricket season coming in so close to the festive season,” said Nikhil Kumar, Vice President, IN, ME and SEA, mediasmart, in a recent interview with LiveMint.
The user journey is no longer linear. Studies say that, on average, consumers experience nine unique touchpoints before making a purchase. Hence, advertisers who leverage the power of multi-screens are bound to stand out of the crowd and win this festive season. Armed with the power of CTV storytelling, the interactivity of mobile ads, and the impact of DOOH, advertisers can create seamless user experiences that leave a lasting impression.
Imagine a family that often watches home improvement shows getting ads for DIY tools or local home decor stores. Such targeted advertising not only captures attention but also has a higher chance of conversion. Advertisers can leverage this audience data to segment them not just by demographics but by psychographics and behavioral patterns to create highly targeted CTV campaigns.
While a well-placed sports shoes CTV ad might do wonders for the sales of said product, why stop there? The beauty of programmatic CTV is not only derived from the ability to target audiences and measure conversions but - provided with the right technology partner - can be the door to synchronized cross-screen campaigns. With mediasmart’s household sync, the devices within the household where the CTV/OTT content is consumed would receive a synced interactive ad on mobile. It would be perfect to incentivize action. Additionally, synced Digital Out-of-Home ads could be used as reinforcement within the same targeted areas.
Omnichannel approaches are a necessity as a majority of users have been found to use more than 5 channels to finalize a purchase during the holiday season, according to Google. Undoubtedly, the allure of a well-crafted CTV strategy is elevated when completed by astutely positioned marketing actions that seamlessly accompany users throughout their journey across screens.
“This season is particularly interesting as the cricket world cup coincides with the festive season, adding to the euphoria! As a leading programmatic DSP, we work with brands across verticals like FMCG, Automotive, Retail, and more who are traditionally big spenders ahead of the festive season. We are bringing this season the power of multi-screen reach and branding to our partners,” said Nikhil Kumar, Vice President, IN, ME and SEA, mediasmart, in a recent interview with LiveMint.
The essence of family movie night has always been about togetherness, bonding over shared emotions, and laughter. While the core feelings remain unchanged, OTT platforms have enriched the experience both for the viewers and the advertisers. Connected TV's intuitive interfaces, personalized recommendations, and diverse content libraries encourage families to gather around the big screen again but now, they do so on their terms. Advertisers, on their side, benefit from a measurable medium that gives them the ability to segment households and establish creative strategies that go beyond mere storytelling on television. The lure of true omnichannel campaigns cannot be discounted.
The synergy of OTT platforms and CTV has not only rejuvenated the family movie night experience but has also redefined the advertising landscape.
Let’s join hands to navigate this new terrain with agility, tapping into engaged audiences and forging stronger connections on CTV and beyond. Contact us!