OTT platforms have become the preferred means of consuming video content, especially in current times. Unlike linear television where the viewer was passive, OTT platforms are engaging and immersive, while allowing for the highest user convenience. In 2019, 2/3rd of the Indian audience spent at least 1 to 2 hours a day watching content online, and it’s expected to grow further in 2020. Hence these platforms have emerged as unique playgrounds for marketers.
Times Internet has long-standing advertising partnerships with leading OTT (Over the Top) players, also known as streaming media services. The brand’s latest whitepaper brings together learnings from primary research and insight studies done amongst 2000 Times Internet users to understand how audiences interact with and consume content on OTT platforms basis Times Internet’s in-house research and insights, so you can reimagine new ways to interact with target audiences.
The report highlights the flexibility of timing, range of shows, and new content that emerged as the key reasons for watching content on OTT platforms. Original content is going to be a strong differentiation factor across genres and would help platforms entice subscribers, while the quality would help retain them. With the growing demand for originals, OTT players are creating content in regional languages, since it is the future for consumption and commerce.
Of the people who subscribe to online websites/apps, 1/4th claim to spend more than Rs. 500 on monthly subscriptions, and among people who have not subscribed to any online website/ app, nearly 60% of people are not keen on spending money to watch content on online platforms. Additionally, word of mouth, i.e. recommendation by friends/ colleagues followed by buzz on social media, are the key motivators to watch any content on online platforms. Additionally,
Online content is also high on engagement with the OTT format empowering consumers in a fundamentally different way. Unlike the relatively unidimensional, inflexible era of linear television, over-the-top TV now enables customers to actively interact with content. It also offers them a wide array of choices, in terms of binge-watching, time & place as well as navigation which will all play crucial roles in the emergence of the next batch of opportunities for digital marketers to tap into a wider Indian audience.
This article is authored by Vivek Pandey- VP -Revenue Strategy & Analytics – Times Internet.