7 OTT stats that will (most likely) blow your mind and give you some insight!

If you’re a millennial like me, there’s a good chance you have a soft spot for lists of X number of things you need to know about any given subject. But even if you’re not into that, I’ve decided to put together some cool stats with the sole purpose of keeping you in the OTT business loop – and well, perhaps provide you with some actionable insights. 

So with no further ado, here we go:

1. Consumers now have over 300 streaming video services to choose from. (Deloitte Insights)

We all know the big dogs on this: Netflix, Amazon, HBO, Hulu. But what if you want niche content? I can speak for myself on this one. Every month I pay a subscription fee for a sport OTT service that I like watching once a week. And guess what? Millions like myself do the same, and not just for this sport in particular, but for anything you’d like to watch more of. Paying for content is already part of modern, human life. And it’s only going to grow from here.

This is great news! The more OTT services you come across, the more it means that people are getting used to this type of service and its business models.

2. More people have at least one streaming video subscription (68%) than a traditional pay-TV subscription (65%). (Deloitte Insights)

This reminds me of an article I read once about people thinking that radio would disappear when television came along. And then the picture of my uncle listening to the radio while watching soccer (on the TV) comes to my mind! What I am trying to say is that it’s not a question of either or. TV – specially cable TV – is reinventing itself, and trends show they’re also following the OTT path. But there’s a good chance they will co-exist, at least until the next big thing comes along..

3. Advertising makes up 45% of all online video revenue and is projected to grow to almost 60% over the next 10 years. (Video Advertising Bureau)

Has paid advertising figures fallen on TV lately? Yes. Has paid online advertising grown lately? Also yes. Bottom line – and honestly, not that of a creative one: marketers want to be present where there is an audience. If your service has an audience, I’m pretty sure there’s a marketable opportunity there. It doesn’t hurt to remember that with Nunchee.com you can set up both AVOD and SVOD. 

4. YouTube will account for about 40% of US CTV ad spending; Roku and Hulu will collectively represent an additional 30%. (eMarketer)

I only picked this one because I want you to think in the box. Which box? The streaming box. Besides a traditional website and mobile app combo, consider having an app for streaming boxes such as Roku, FireTV, Android TV and AppleTV. Oh, you don’t know how to get them? Don’t you worry about that! Just quickly set up the basics on your Nunchee console and we’ll do the rest for you! 

5. 46% of OTT customers are willing to pay $10/month for ad-free service; 25% prefer a free service with some ads. (OpenX)

Let’s be honest about this dichotomy here. We all like free stuff. And we all dislike ads – unless they’re creative and about something we want. A common question among media entrepreneurs is how much they should charge for the service. Or even if they should charge at all. I get why they worry about it and unfortunately there isn’t a single right answer.

The good news is that Nunchee provides the tools to experiment with pricing and different monetization models. We hand you the tool box, you build and experiment the way you deem right.

6. While streaming content, 65% of viewers use a second screen to look up info about a product being advertised during their program. (Video Advertising Bureau)

I mentioned my uncle watching soccer while listening to his favorite commentator on the radio right? Well, I admit I do something similar. During live sports events, I can’t seem to watch it without tweeting. Twitter allows me to connect with other fans in a unique way and it makes my viewing experience a lot more enjoyable.

Getting your fans to share their thoughts on your content across different platforms is the new word of mouth!

7. 65% of OTT time on the home TV screen is spent watching subscription video-on-demand (SVOD); 30% is spent watching free streaming services (FVOD); 5% is spent watching transactional streaming services (TVOD). (CMO)

If we had to name these services you could say that 65% of your OTT time on your home TV is spent on Netflix (?) or other SVOD types of service, 30% most likely on (cat videos) youtube and then the remaining 5% renting a movie or series. Is that right? Does that make sense? The bottom line here is that the content consumption appetite is high as ever. This pandemic seems to have opened a lot of eyes to the plethora of contents and platforms out there where the possibilities feel endless. All of a sudden I can find a service that streams my favorite sport, another where I can watch niche movies, and another one to – oh well – keep watching new cat videos.

What do you think? Do these stats make sense to you? Do you agree or disagree? I’d love to hear your thoughts on it! Don’t be shy and email me at ygracielli@smartboxtv.com and let’s get this OTT talk started!

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