Over-the-Top networks are igniting the entertainment landscape thanks to companies like Netflix, Hulu and Amazon. And well-established brands, such as Disney, Facebook, Twitter and Apple, have all climbed onboard the OTT train. But these are all advertising and sponsorship driven channels. There are other types of OTT channels proving to be just as powerful, if not more so. Channels in which advertising revenue is not a primary objective. OTT channels can be launched by corporations, government agencies, and any other kind of organization. Here’s a look at the value of OTT channels for corporations.
How are corporations using OTT?
Let’s take use corporations as an example. Major US and international corporations, using OTT to create a direct tie to their consumers, can provide useful information through well-produced, informative content. How does this benefit the corporation? It can increase loyalty, increase revenue generated by existing clients and attract new clients. Good candidates for OTT might include banks, stock brokerage companies, healthcare providers, pharmaceutical companies, accounting firms and so on.
Drilling down a little further, consider pharmaceuticals with large product lines. They can develop OTT channels that offer live and video-on-demand content pertaining to specific illnesses or conditions that their products treat. By producing and distributing informative content, a pharmaceutical firm can build trust with the consumer, gain referrals and strengthen relationships with physicians. The value of the OTT network comes in the form of increased business direct to those targeted entities. Any advertising or sponsorship revenue would be icing on the cake.
Building an OTT network isn’t trivial. Don’t go it alone.
There is a lot of interest in OTT among corporate marketers who see it as a fresh, new conduit to current and future clients. But when it comes to taking action, the tendency is to either assign the task to an already overworked staff, or to back-burner it alltogether, waiting to see what the “other guys” do. Frankly, neither makes sense. OTT is rapidly becoming a powerful force and it requires advanced planning and a highly organized set of processes.
So, if you are interested in building an OTT channel – and you should be – it is important that you bring on the proper advisors from the very start. Someone who can advise on:
- Developing a capital budget and ongoing operational budget
- Identifying the physical and geographic location for the network
- Determining the type of content you want to produce – live programming, video-on-demand or both
- Identifying legal and compliance issues
- Developing operational workflows
- Identifying and building the production and technical team
Again, don’t assume your in-house A/V people can build and run your channel. You are building a network and producing content that requires a long-term strategy.
Today’s consumers are savvy and demanding. You need to produce the type of quality content they expect, or you will be wasting your money and jeopardizing your reputation.
Broadcast Management Group is a pioneer in creative services, system integration and live production. We’re out in front of the curve and actively working with organizations ready to tap into the power of OTT. Let us know when you are ready to bring OTT to your audience.