Industry trends

Why So Many Retailers Are Now Relying on Streaming Content.

Aug 13, 2021 | By InPlayer

Most new technologies don’t reach the level of adoption within such a short window of time that has been enjoyed by over-the-top media. With the exceptions of the rise of Ford’s Model T in the early 20th century or the explosion of the smartphone a generation ago, the cultural advancement of streaming video has been an almost uniquely impressive technological feat.

Consumers tend to think of the OTT market as being under the proprietorship of a few heavy-hitting media businesses: Netflix, Amazon’s Prime Video, Hulu. And although those companies have built an industry virtually from the ground up, in the span of little more than a decade, they don’t hold a monopoly on streaming video. In fact, even beyond the others jockeying for a place at the table of digital entertainment providers, there is a massive piece of the OTT pie that sometimes gets overlooked: retailers.

In the same way that consumer brands not long ago learned quickly the importance of embracing social media, today those retailers are realizing the new wave of direct-to-customer relations is streaming video. 

“The projections are, surprisingly, that more U.S. adults – and this is pre-COVID, and COVID has accelerated all of this – in 2020 will have seen OTT ads than will have used Instagram,” Jesse Math, vice president and OTT lead for Tinuiti, told the website Practical Ecommerce last fall. “The consumer has evolved, and marketers have to evolve and go to where they are.”

If we think of the category of over-the-top media as encompassing any video that can be consumed over the internet – and we should – then OTT becomes an expansive universe still waiting to be fully explored, especially from the perspective of retailers. In addition to Netflix and the other streamers, a host of other media properties have simply moved some of their toys to another sandbox: Think Home Shopping Network. Although the network still does significant business on terrestrial television, it also curates a YouTube channel and has built direct-purchase integrations into its Apple and Android devices and smart TV broadcasts. By creating an engaging, interactive D2C platform HSN has revealed some of the e-commerce possibilities for retailers seeking to build new revenue streams.

Of course, owning an existing media empire isn’t a prerequisite to benefit from OTT. Nike and Under Armour are examples of clothing brands that have recently downsized their brick-and-mortar presence to turn their focus to constructing a digital marketplace. That includes not only a platform for direct purchase but also streaming video that advertises, walks users through product features and clearly demonstrates a value proposition – in a controlled, consistent environment where a customer is already engaged.

Retailers everywhere – of all sizes, in every industry – can learn from these developments. You’d likely never buy a car without a test drive, nor buy a house or rent an apartment without setting foot in it. But an OTT platform can create top-of-funnel interest and persuade prospects to take the next step. And because websites and social media channels are inherently video-friendly, streaming video often can be integrated into existing campaigns or platforms with ease.

Brands of all sizes can take advantage of OTT opportunities by using the InPlayer platform. InPlayer offers security of all consumers’ payment information, 24/7 support and the capability to broadcast anywhere in the world, instantaneously scaling any company’s reach. 

Over-the-top media is a powerful tool that can be leveraged to amplify engagement and sales, optimize influencers and create strategic partnerships. No longer limited to local word of mouth or the stretch of an advertising dollar, a retailer’s market is now made up of the entire internet. Especially as the economy recovers and more consumers than ever are turning to their digital devices for product information and purchasing convenience, OTT is undeniably a universe worth exploring.

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Why So Many Retailers Are Now Relying on Streaming Content

Most new technologies don’t reach the level of adoption within such a short window of time that has been enjoyed by over-the-top media. With the exceptions of the rise of Ford’s Model T in the early 20th century or the explosion of the smartphone a generation ago, the cultural advancement of streaming video has been an almost uniquely impressive technological feat.

Consumers tend to think of the OTT market as being under the proprietorship of a few heavy-hitting media businesses: Netflix, Amazon’s Prime Video, Hulu. And although those companies have built an industry virtually from the ground up, in the span of little more than a decade, they don’t hold a monopoly on streaming video. In fact, even beyond the others jockeying for a place at the table of digital entertainment providers, there is a massive piece of the OTT pie that sometimes gets overlooked: retailers.

In the same way that consumer brands not long ago learned quickly the importance of embracing social media, today those retailers are realizing the new wave of direct-to-customer relations is streaming video. 

“The projections are, surprisingly, that more U.S. adults – and this is pre-COVID, and COVID has accelerated all of this – in 2020 will have seen OTT ads than will have used Instagram,” Jesse Math, vice president and OTT lead for Tinuiti, told the website Practical Ecommerce last fall. “The consumer has evolved, and marketers have to evolve and go to where they are.”

If we think of the category of over-the-top media as encompassing any video that can be consumed over the internet – and we should – then OTT becomes an expansive universe still waiting to be fully explored, especially from the perspective of retailers. In addition to Netflix and the other streamers, a host of other media properties have simply moved some of their toys to another sandbox: Think Home Shopping Network. Although the network still does significant business on terrestrial television, it also curates a YouTube channel and has built direct-purchase integrations into its Apple and Android devices and smart TV broadcasts. By creating an engaging, interactive D2C platform HSN has revealed some of the e-commerce possibilities for retailers seeking to build new revenue streams.

Of course, owning an existing media empire isn’t a prerequisite to benefit from OTT. Nike and Under Armour are examples of clothing brands that have recently downsized their brick-and-mortar presence to turn their focus to constructing a digital marketplace. That includes not only a platform for direct purchase but also streaming video that advertises, walks users through product features and clearly demonstrates a value proposition – in a controlled, consistent environment where a customer is already engaged.

Retailers everywhere – of all sizes, in every industry – can learn from these developments. You’d likely never buy a car without a test drive, nor buy a house or rent an apartment without setting foot in it. But an OTT platform can create top-of-funnel interest and persuade prospects to take the next step. And because websites and social media channels are inherently video-friendly, streaming video often can be integrated into existing campaigns or platforms with ease.

Brands of all sizes can take advantage of OTT opportunities by using the InPlayer platform. InPlayer offers security of all consumers’ payment information, 24/7 support and the capability to broadcast anywhere in the world, instantaneously scaling any company’s reach. 

Over-the-top media is a powerful tool that can be leveraged to amplify engagement and sales, optimize influencers and create strategic partnerships. No longer limited to local word of mouth or the stretch of an advertising dollar, a retailer’s market is now made up of the entire internet. Especially as the economy recovers and more consumers than ever are turning to their digital devices for product information and purchasing convenience, OTT is undeniably a universe worth exploring.

TALK TO US!

 

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