There are so many different streaming platforms available these days! They are like the online versions of traditional radio and television, and almost everything is “on demand.” With all the customizable programming, users create a more personal experience where they can watch and listen to what they want, when they want. As a result, the streaming platforms can collect valuable data about watching and listening behaviors of their users, which can be leveraged to reach target audiences using video advertising.
Nielsen says streaming across all TVs now has a 26% share of total day usage among people age 2+. US total spending on video subscription services grew 21% in the first 6 months of 2021 to $12.2 billion according to Digital Entertainment Group. This is after 2020, a year full of pandemic home viewership increases.
That is no small amount of screen time. Consider the scale of change from a couple of decades ago, when someone would ask, “What’s your favorite TV channel?” Now that question is more likely to be, “What’s your favorite show to binge?”
If media strategies are based on staying in front of enough of the target audience’s eyeballs, it’s safe to say those eyeballs have migrated to media content that’s more, “what we want, when we want it.” It’s also more mobile, as consumers maximize those moments of down time utilizing their smart phones and devices for everything, including entertainment on-the-go.
With large streaming audiences splitting time between paid subscription models, ad supported models, and OTT network streaming services, it’s important to realize that the overlap between platforms and streaming models for all consumer segments is sizable, scalable, and continually growing. With this in mind, video ad content needs to be adjusted accordingly so that it can serve across multiple screens and platforms. Ads need to be edited into multiple lengths and optimal aspect ratios for each platform.
Streaming audiences seem to have no real loyalty to one platform or screen. Favored content wins viewer attention. Ad supported TV platforms like Roku, Tubi, Pluto, Vudu, & IMDb TV make up about a 4% share.
Subscription-based platforms like Prime Video, Disney +, Netflix, & HBO Max take up more viewing time, but that time is divided between multiple services as users often subscribe to more than one paid service. Some platforms like Hulu give you the option of using an ad-supported plan at a discounted rate, or an ad-free, full subscription. There are also platforms using models that blur the lines in between ad- supported and subscription services, with some free streaming content that is ad supported programing, and some featured content requiring a paid membership or direct purchase for access.
With an overlap of streaming services successfully serving audiences on demand content, it’s interesting to note that according to YouTube, about 1 billion hours of video are watched every single day, with 8 out of 10 viewers being 18-49 years of age. Ampere Analysis reports, 55–64-year-old audiences are growing faster on ad supported TV platforms. Perhaps that’s because the content is often from an older library of network tv shows, as opposed to newly produced original content produced for subscription platforms like Amazon Prime and Disney +.
Streaming video platform ad targeting also offers more nuanced and advanced capabilities than traditional broadcast TV, similar to what we have become accustomed to in digital marketing targeting.
Serving video ads across multiple devices and screens has become more effective. And the data provided by the platforms is invaluable for advertisers when it comes to audience behavior.
With so many streaming options on the rise, advertisers shouldn’t feel like they need to pick “one right platform.” Instead, we should follow our target audience beyond individual platforms and use an integrated media approach across multiple screens and interactions throughout the day to achieve the best overall results.
If you’re wondering how to get the best ROI from your streaming video campaign let Brand Ranch Media help you with a more wholistic approach to influencing your target audience. Our expertise will ensure you’re reaching the right audience, at a scalable volume, with measurable results. Please give us a call at 713-309-6380 or reach out through our contact form on the website.