Over the top (OTT) advertising is on the rise not just because it offers an entirely new way of consuming digital content but also because it represents the marriage between traditional television and online video.
Traditionally with linear TV, you target a show because of the audience you think is watching. But with OTT, one major distinction is that you target individuals no matter what they’re watching. This difference is one of the main reasons why OTT-specific advertising is heating up across the board.
With over 200 paid subscriptions and ad-supported streaming services available, consumers have the freedom to choose one or several that fit their needs due to which streaming services are competing for consumers’ time and money.
Through popular streaming TV services such as Netflix, Hulu, or Amazon Prime Video, chances are you’ve already interacted with OTT. All these platforms deliver video content over the same broadband connection that you would use for surfing the Web or checking your email.
A 2019 study from the Video Advertising Bureau, which projects that ad spends on addressable TV, will hit $3.3 billion by 2020, a 343% spike since 2016.