India recorded over two billion U.S. dollars revenue from (over-the-top) OTT , CTV and video services in 2020. This figure is estimated to be triple by 2026 reaching nearly seven billion. Disney+ Hotstar, Netflix and Amazon Prime Video were some of the key players of the video subscription market, while YouTube continued to dominate online video streaming. By Statista
On the other hand CTV 81% Globally, Its adoption in India is still steady and grew by 31% in 2021. Estimation of 80 million CTV in Indian Households by 2025.
Before moving forward to discuss the scope of CTV and OTT in India, let’s first understand what is CTV and OTT.
Connected Television (CTV)
A device that connects to or is integrated into a television to support streaming video content is known as a connected TV (CTV). Xbox, PlayStation, Roku, Amazon Fire TV, Apple TV, and more devices fall under the category of CTVs.
The concept of “cord-cutting,” in which consumers discontinue their traditional cable and satellite subscriptions in favor of exclusively using these streaming or VOD formats, has been fueled by the growth of CTV and OTT.
Let’s start out easy. Any form of video or streaming service that gives a viewer access to movies or TV shows by transmitting the media directly over the internet is referred to as a “over the top” (OTT) service. The most well-known OTT service providers are Netflix, Amazon Prime Video, and Hulu.
In essence, Through the Top services stream TV episodes and movies over an internet connection. The majority of OTT providers offer a dedicated app, website, or other page where users can sign up and access the material that is included with the subscription.
Adoption of CTV and OTT in India
Adoption of CTV and OTT in India is growing remarkably, considered as one of the fastest growing globally. The major reason for this is the convenience it provides to its end users, and with convenience it gives its users the liberty to view unlimited content at cheaper prices. Like the smart TV’s in India, starting range is as minimum as INR 15000 (Approximately $195 in US Dollars) onwards in India.
There are eight leading OTT Apps in India Disney + Hotstar, Amazon’s Prime Video, Netflix, Zee5, MX player, Sony LIV, VOOT, and Alt Balaji which take the maximum OTT Market share.
The use of dongles are also widely available throughout the country now while streaming such content in addition to smart TV. There is adoption of Set-top Boxes in nearly every household in India as it allows easy and fast access to internet based content.
OTT and CTV Advertising Opportunities in India
Advertisers are presented with new opportunities to get creative with their ad formats in OTT and CTV domain. Mobile viewership should definitely be taken into consideration once as they play an integral role in making Ad experience richer and interactive. The adoption of new formats has been quick from the such as ”Pause ads”, these are the ads that appear when the user switches to pause mode while viewing the video and offer opportunities localized targeting.
Since consumers interact in dual screening with their mobile devices, another effective way of advertising is to integrate QR codes in commercials to encourage direct app downloads. Advertisers even experiment by inserting advertisements in the television content.
Also, you can rely on Trackier Performance Marketing software that helps provide a platform that gives you greater insights on CTV, OTV Advertisement.
Practices to keep in mind while creating OTT and CTV Campaigns
Comprehend the behavior Patterns:
The target audience of CTV is significantly different from the TV Audiences. You need to carefully understand the audiences so that the probability of conversion becomes high.
Integration of Marketing Team:
There is a division between marketing departments TV and Digital, therefore the CTV and OTT platforms have blurred these lines, so do a thorough integration of teams.
Cross-device Measurement Is Important:
It’s important to search for an ideal cross device measurement partner like Trackier that helps you to track and monitor the conversions and events triggered by CTV and OTT Campaigns
Our main learning? To connect OTT/CTV and other channels, advertising technology must offer unified planning, buying, and measurement. The category will be viewed as an integral aspect of omnichannel video and audience reach as it develops beyond the hype. Of course, Trackier steps in at this point.
Feel free to reach out to us to get a free trial of our Trackier Performance Marketing Software. Moreover, you can contact us to get all your queries answered.