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.
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.
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.
OTT, CTV Trends and Application
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.
Benefits Of Couponing In Your Affiliate Marketing Strategy
As a business owner, agency or an individual, we strive to be successful in our work. A successful affiliate marketing strategy sounds tempting as it grows the business rapidly. And who doesn’t want to grow their business while using techniques […]
Beginner’s Guide: Lead Generation, Distribution and How to Sell Leads
A little-known fact in marketing is that well-established companies and brands who have experienced massive success have all worked upon lead generation, lead distribution, and selling leads at a point in time. Identifying your customer needs is the most basic […]