How Important is OTT to My Marketing Mix?
Not that long ago, when someone said OTT to me I looked them square in the eyes and replied, “Yeah you know me!” But the novelty of Over-The-Top has sure faded, making these targeted streaming TV ads the fastest-growing and most utilized digital marketing technology for the last two years straight. If OTT isn’t part of your marketing mix, check out these important stats:
CTV is now mainstream viewing behavioral in the U.S. More than 106 million households will watch streaming content, eclipsing traditional pay TV.
2020 was the year it happened. We were all stuck inside, bored out of our minds and desperately looking for a multi-season sitcom to get us through the pandemic. Streaming TV overwhelmingly filled our time, far outpacing traditional TV during that time. But even though the pandemic is at an end, the shift in behavior was permanent. More people than ever, for the past 3 years running, are cutting the cord and moving their TV-watching to streaming ONLY.
There will be more than 55 million cord cutters by 2022
In 2019, 6.3 Million people cut the cord, and it’s increased every year since then. We’re now up to 55.1 million, and even though the growth percentages are slowing down, TV and Cable companies are feeling the burn. Cable TV penetration will fall below 60% by 2030. What used to be a weird trend exclusive to millennials is now becoming the norm across the whole country.
89%: The Number of marketers who report that connected TV is more effective than or just as effective as linear TV
It makes sense for marketers for the same reason it does for consumers. You no longer have to sit through shows that you don’t care about waiting for your favorite program to come out. Streaming allows users to not only watch what they want instantly, but also delivers them curated content based on their previous viewing habits.
The same is true of your marketing dollars. You no longer have to pay the big bucks to reach every TV household in your DMA. The days of buying Adults 21+ are gone. With the ability to behaviorally and demographically target your TV ads, you’re not only cutting down on waste for your marketing dollars, but that targeted audience that fits the mold of your ideal consumer will be much quicker to respond to your ads.
So the next time someone asks you, “You down with OTT?”, you know the lyrics. Wheeler Digital is ready to help you figure out the perfect OTT strategy to reach your customers. Just give us a call.