How Has OTT Advertising Become a Big Advertising Platform for all Advertisers?
Over the top or OTT platforms have proved to be a convenient means of advertising for a plethora of brands and businesses. Especially in India, the viewership of content on these OTT platforms has only seen a rise ever since they were introduced to the markets. The rise has been even more with the pandemic hitting the world and people having to sit at home. The OTT platforms in India act have garnered a lot of attention from viewers during the pandemic and have become a major source of entertainment for most. This is also because the accessibility to movie theatres and halls seems to be a far-fetched idea now after the corona outbreak and safety concerns that public places have.
The future of OTT advertising seems to be extremely bright and beneficial for advertisers. The exposure that any advertisement gets while advertising on the OTT platforms is greater than what can be achieved on any other digital platform. Advertising on the OTT platforms is not just beneficial for the advertisers, buy equally benefits the OTT platforms that place the ads. OTT platforms generate a great part of their revenue by placing ads in between the content. In that sense, it is equally beneficial for both parties.
Multiple reasons have accounted for the substantial growth and success of advertisements on the OTT platforms. OTT advertising is rapidly emerging as the priority platform for advertisers since marketing here helps achieve promising results. OTT- platforms and the growth of advertising in these platforms can be accounted to the highly- engaged audience and market effectiveness that it has. Especially in the urban parts of the country, the growth of OTT viewership is unstoppable. Any advertiser aims to place ads on a platform where there is room for growth for their products or services.
Advertising in India is highly focused on reaching a target audience to get maximum returns. This is ensured so that resources are not wasted on placing ads on places or on platforms where there is less or no viewership of the target audience. Advertising on digital mediums like OTT makes targeted marketing much simpler and effective. The Mx Player Ads and Hotstar Ads are perfect examples of how advertisers use OTT platforms to showcase their brand and get the attention of the audience. This is all made possible because of the ease of reaching a targeted audience.
The OTT advertising market in India is rapidly growing and especially after the pandemic, the growth has further accelerated. While people could not step out of their homes due to the social distancing concerns, the whole TV industry came to a standstill and even the movie halls were shut down. This took a toll on the entertainment industry and the advertisers that used these traditional methods like and TV and cinema halls to showcase their products or services through placing ads.
After an almost complete lockdown on the Tv shows and cinema halls, the future of advertising seemed bleak and there was a sudden need for a new platform where the advertisers could showcase their brands. This is the same time when OTT platforms began to gain steady popularity in the country. Since multiple OTT platforms were showcasing the content of all types to cater to different choices that any audience has. This opened up a way for advertisers to shift their focus from the previously used platforms like Tv and cinema halls to OTT platforms like Mx Player, Hotstar, etc.
The Tv audience and the audience of cinema halls shifted to these OTT platforms that had multiple genres and a wide range of movies and series for people of different interests. These OTT platforms not only presented the audience with a rich variety of content varying in language and genre but also gave them the liberty to watch any particular thing at their own time. This ease made the audience like the platform and made them stay on these platforms for longer durations. This is the exact condition and situation that the advertisers look for. It was easier to identify a target audience for their advertisements based on what they were viewing. Along with that, easy access to content at any time of the day made the viewers stay on the platform for longer. All these were positive signs for the advertisers as the chances of a targeted audience viewing their ads would also increase in return.
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