To leverage true personalization, OTT provider must be willing to look beyond generic recommendations by genres or actors. Going deeply into the psychometrics and other engagement drivers is where the real payoffs lie. But even the deepest insights have no value unless you are able to bring them to life in your tech platform.
Great personalization is a powerful force that can take the OTT industry to stratospheric heights. It can help bored viewers escape the monotony of all-too-limited “echo chamber” recommendations and increase consumer satisfaction. And ultimately, it can shape roadmaps that can underpin providers’ success positively impacting business metrics such as ARPU, CLTV, and churn.
Two things to consider as networks are armed for the future: Point solutions that can address specific weaknesses, not rip and replace of entire systems; and investment of the capital necessary for long-term solutions, rather than short-term fixes that temporarily mask the problem at hand.
To take full advantage of the surge in viewing, the industry needs to make it easier for viewers to find the content they have, to leverage partnerships to ensure that the content pipeline remains open, and to find ways to tap into social outlets to create new content opportunities.
There are not many options when it comes to making meaningful reductions in storage and streaming costs. Adopting a new, more efficient codec can deliver significant bandwidth savings but increases costs in the short-term. According to FirstLight Media, AI can deliver up to 50% savings with your existing codec.
As viewing has surged, the industry needs to ensure that ad dollars follow the current increase in eyeballs: the industry needs to match the flexibility and targeting of digital ads with the seamless delivery that brands came to expect on linear, as well as the assurance that viewers will watch.
The platform of the future requires the scale, the carrier-grade capabilities and the capacity to accommodate the highest levels of service. Video providers who have made new modifications to old platforms in an effort to future-proof their services should ensure that they maintain sufficient scale and reliability – especially as they turn to advanced monetization features.