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.