The global quarantine altered the very essence of everyday life. People mostly stay at home, and video content has become more popular and relevant than ever. VoD services keep luring new viewers and shape their content consumption behavior. While the coronavirus pandemic will end one day, the new habits and preferences of the audience are most likely to stay. What are those new habits, and how can marketers and advertisers take advantage of them? Let's discuss it.
VoD Instead of Traditional TV
Video on Demand (VoD) is a video media distribution system that enables viewers to watch their favorite movies and shows whenever they want to, i.e. on demand. The content of one’s interest can be played any time and date. On the contrary, traditional TV has a prescribed schedule. According to AdExchanger, during the pandemic, people prefer watching pay-TV only to follow live sports events and news. However, most people are turning to social media, streaming services, and other online resources for this content and entertainment. Online services are not only more convenient for people on quarantine, but they are more trusted than traditional TV these days. As such, it is losing its charm rapidly.
VoD gets more and more attention due to the changing habits of the audience that prefers connected TV over traditional blue screens. Moreover, it helps to manage, optimize, and analyze your video campaign with specialized ad platforms for publishers.
The prime time now starts earlier for a couple of hours. As Conviva CEO Bill Demas claims, viewing peaks have shifted from typical primetime hours (8 pm-10 pm) to earlier in the day. The daytime window (10 am-5 pm) has seen a significant increase, up 39% between March 9th and March 23rd. Also, while cinemas and theatres are closing across the countries, creative studios drop their content online. People subscribe to VoD to get access to long-awaited titles at home. That is why, when using VoD in your advertising strategy, you have more chances to reach the once-elusive TV audiences.
New Formats Change the Market
The changes make VoD a more beneficial marketing option than TV, which means it is the high time for publishers to monetize their CTV apps using ad monetization platforms like TheViewPoint. This platform allows you to earn more via direct deals with brands and without any middlemen involved. Even before the coronavirus outbreak, VoD was growing and becoming stronger. Now, the entire video market is changing. Brands should stand up during this time and do everything to keep an acceptable level of stability. Streaming services, just like ad monetization platforms for publishers, will continue to expand, and this will make competition between brands more meaningful. Just imagine: when targeted ads appear on CTV apps, brands reach relevant audiences and, therefore – increase their ad performance.
Conclusion
Online TV is an exciting monetary opportunity, and even such platforms as Netflix are long-anticipated to adapt the subscription-only revenue option. Previously, paid video supply was a restriction for the market, but today, when user behavior has changed, we see quite the opposite situation. CTV / OTT supply is poised to grow, so should brands’ attention to advertising on the channel. Stay healthy and good luck!
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