Few technologies have been as revolutionary as OTT streaming. It’s made its way into nearly every industry in some way, whether for training, collaboration, or just entertainment. Companies with their own OTT platform are finding it easier to keep employees up to date, connect with customers, and maintain a consistent brand voice.
Have you been considering an investment in OTT? Take a look at these five ways an OTT channel will help grow your business.
Reach a wider audience.
OTT is truly a global technology. It isn’t limited by regional standards; anyone with the internet can access your content. That means your potential audience base is much larger than with any traditional cable, internet, or satellite service.
Users won’t have to to purchase special equipment, either. They can use any internet-connected device, which presents a lower bar to entry for new users. People are more likely to try your OTT channel when they can do so without paying for a cable box or satellite dish.
Create a user experience that keeps customers coming back for more.
Owning an OTT platform gives you unprecedented control over user experience.
Convenience is something that really speaks to users. They like being able to log in from their preferred online devices. Smartphones, laptops, tablets, smart TVs, and even gaming consoles can be used to access your content, and audience members can switch between devices even during the same session.
You have a surprising amount of control over the final viewing quality on your platform. You don’t have to depend on a cable or radio network. Instead, you can take advantage of technology like adaptive streaming to provide the best quality based on the user’s device and connection.
That content has far more variety than a cable channel, too. An OTT channel can host:
- Live streams
- Recorded video
- Audio books
- Digital content libraries
- Video chat and conferencing
In a global market, user experience is often the main differentiator between brands. The edge you get from an OTT platform makes you stand out from a world of competitors.
Cut out the middleman on distribution.
Getting content broadcast on TV and radio is a major hassle. You have to compete for airtime with creators of all sizes, which is both expensive and time-consuming. It’s hard to launch timely content, and network guidelines impose limits on what you can show.
OTT lets you broadcast directly to channel viewers. There’s no artificial waiting period between when your content is done and when you can post it. You don’t have to pay a third party for airtime or wrestle with censorship.
Instead, you have a direct connection to your viewers. They can experience your content as you want to make it, when you want to release it. That is something you can never get on cable.
Take control of your data and analytics.
It’s hard to get detailed performance data from cable networks (or even third party OTT platforms like YouTube, for that matter). You have no legal right to data produced by your content. All of it is owned by the network or platform host, leaving you to work with whatever data is made available. That data is often shallow, like shares and follower counts.
An OTT channel is yours, which means the data is as well. You have full insight into every aspect of your platform. You won’t just see likes and views. You’ll gather information such as:
- Where first-time users come from
- Which devices are used to access the platform
- How often a user visits
- Where they go after logging in
- What content types perform well or poorly
- How long users spend on platform
- Which videos are most often rewatched
- How often users return
This in-depth data gives you the insight you need to operate more efficiently. You can adjust your content production and schedule in response to viewership patterns. Referral sources that yield more valuable users can be given priority for promotions.
From a monetization perspective, better analytics helps you land more lucrative sponsors and advertising opportunities. The best partners want to work with platform owners who use data-driven arguments to prove their value.
Maximize your income while minimizing your investment.
OTT is a low investment, high yield proposition. There’s no need to buy expensive equipment or lock yourself into a network contract.
Most of the expenses are related to content production, not distribution, which means you’ll have a faster climb to profitability. In fact, an OTT platform can become profitable in half the time it would take a cable network.
You can offset your initial investment by using monetization strategies that have been proven effective through market usage.
- Paid live streams
- Premium video
- Tailored advertising
- Digital content sales
Don’t forget that those strategies are far more lucrative than they would be elsewhere because of rich data and platform analytics. Leveraging data to optimize monetization is part of the reason OTT platforms reach profitability so quickly.
All five of these arguments for investing in an OTT channel play into a higher ROI, actually. You reach a wider audience. They’re happier with your content. You connect directly with viewers, with no third party filters, and you’re the one profiting from your hard word.
That’s something that fits into everyone’s business plan.
Don’t wait to take control of your content by investing in an OTT platform. Let our experts answer any questions you have and show you how to get started today!