The bottom line for a successful OTT is that you need the three Rs; the right content for the right audience at the right time. That requires a sophisticated understanding of data.
LAS VEGAS (PRWEB) January 17, 2019
GoDigital Chairman and CEO Jason Peterson addressed a gathering of EMA (Entertainment Merchant Association) members interested in the challenges and opportunities presented by OTT (Over The Top Networks) here at this week’s Consumer Electronics Show (CES). Over the top (OTT) is a term used to refer to content providers that distribute streaming media as a standalone product directly to viewers over the Internet, bypassing telecommunications, multichannel television, and broadcast television platforms that traditionally distribute content. Peterson, an EMA Board member, addressed the current OTT landscape as part of EMA@CES Forum. Other participants in the panel discussion included Tricia Lee, Senior VP Product and Development from Sony New Media Solutions.
The OTT Opportunity
“People are really interested in the growth of OTT,” says Peterson, who owns VidaPrimo, which started as a multichannel network on YouTube three years ago before growing into one of the world’s largest Latin multiplatform networks. “The bottom line is that you need the three Rs; the right content for the right audience at the right time. That requires a sophisticated understanding of data. You also need to understand the total lifetime value of a customer versus the cost to acquire that customer.”
Peterson added that starting an OTT network requires one to be a futurist of sorts. “You need to understand who your customers are and what they’re journey is,” he says. “Understanding what demand generation channels work to acquire them and what it costs relative to what their total lifetime value is. On the supply side, acquiring content from different cultures requires a unique understanding of how to do business in those regions. OTT is a two-sided business model, demand side are the end viewers and supply side are content creators.” He added that the key to a successful OTT network doesn’t have to be complicated. “Original or exclusive content and user experience are the only two real differentiators.”
About GoDigital Media Group:
GoDigital Media Group (“GDMG”) is a diversified multi-national holding company focused on technology enabled intellectual property rights management through its operating subsidiaries: Cinq Music, VidaPrimo, AdShare and ContentBridge. Its ‘digital first” subsidiaries provide best-of-breed capabilities in IP acquisition, distribution, protection and collection. This enables GDMG to monetize music and video rights more effectively than their prior ‘traditional media’ owners.