Few key things happened around the Ad Tech & Media Tech world this week.
How OTT platform played a key role that led advertisers to switch their advertising strategy?
The media world is changing! In the subsequent months, we’ll see a massive change in advertisers’ approach towards marketing as the current trend is flowing towards digital mediums like OTT. Technology has played a vital role for advertisers to hold on to the OTT platform and the pandemic has further changed the situation. Amidst the Pandemic, television program productions were stopped, and cinemas were packed up. While overall revenues for the Indian Media sector gets affected, digital and online gaming witnessed growth. As digital media is started to play in the forefront, advertisers increase their spending on OTT platforms. During this pandemic, even though television advertising seems to be a hit, the volume shows a downtrend. But, digital media players managed to score the number as advertisers increasingly started spending on their platform. The OTT players are now available with lots of content that would be viewed anytime, anywhere. As the audience shifted towards streaming players as a preferred mode of consumption, it’s no big surprise that marketers and advertisers have started watching OTT as a key channel for reaching their audience.
Why Movie Theaters are venturing into the Streaming business?
When the coronavirus Pandemic hit on a global scale, movie theaters were forced to temporarily shut down their business. The situation had even more worsened combining with the popularity of streaming services. People started using streaming services as their new form of entertainment which allows them to watch their favorite movies, TV shows, and even new releases within the comfort of their home entertainment systems. To combat this situation some movie chains are slowly streaming their business into OTT platforms. Following the footsteps of movie chains like AMC, Alamo Drafthouse in connecting their business with streaming services to expand their existing database and to collect more customers to modify their marketing strategies. It will directly link its streaming service with its premium loyalty program “Reel Rewards” and will offer digital rentals after a film’s theatrical run and before they are released on streaming. Southern Theaters partnered with OTT provider Row8 will get services from major studios like Disney, Paramount, Universal, Sony, and Warner Brothers.
China’s Social Media Giant, Tencent Holdings, launched a new platform “Pianduoduo”, to expand Elderly and Rural customer base
With an aim to expand customer base among Rural and Elderly population Tencent Holdings. China’s tech giant launched a new platform “Pianduoduo” across application stores in China. The advantage of being a subscriber on this platform is that users will not get charged for watching videos, instead, they will get paid for watching their favorite shows. “Pianduoduo” which literally means “ “lots of videos in Chinese offers thousands of popular classic TV series such as Country Love”, Kangxi Dynasty, Romance of the Three Kingdoms, etc. Users can watch all these nostalgic videos for free without any ads. It has been reported that the app has been downloaded over million times on Huawei’s app store. “Pianduoduo” users can earn 60 digital coins for every minute they watch, maximum limit one can earn per day is 3600 coins, which can be exchanged for a complete price of 0.2 yuan. The app is special with its simple design. Mark Tanner, director of Shanghai-based consultancy China Skinny expressed in a statement that “If [users] can get purchased watching something they‘d probably watch anyway, it’ll have widespread appeal”