The transformation of TV is happening faster than many anticipated. OTT (over-the-top) viewing is growing exponentially. It’s now the dominant platform for premium video viewing. While advertisers know they must be there, many are still asking: Is it a broadcast or a digital buy?
It’s time we look at OTT advertising differently.
In this golden age of TV, where consumers have more quality content options than ever, they’re embracing the speed at which TV is moving to the Internet, especially if it’s ad-funded and free.
eMarketer estimates there are 193.3 million OTT users in 2017, with 168.1 million U.S. connected TV users. The rise of OTT comes at a time when cable is seeing continuing declines as another million consumers cut the TV cord last quarter, per a DSL Report.
Audience fragmentation across devices and screens is accelerating; according to comScore, the average household has 10 connected devices, and that figure rises to 19 devices among households with at least four people. Every major TV player is adjusting to this phenomenon by moving quickly to launch or announce plans for standalone Internet TV services.
How should marketers navigate the rapidly evolving and fragmented OTT space and reap its full potential?