In the United States, there are more video-on-demand subscriptions than people, with 340 million subscribers for over-the-top (OTT) services according to Ampere Analysis data.
With 55 million cord-cutters in 2022, connected TV (CTV) and over-the-top (OTT) advertising are not just a ‘nice to have’ but an essential part of a media strategy.
Bidtellect, a leading demand-side platform and advertising technology company, announces the launch of a new CTV/OTT solution that connects brands with audiences where they are already consuming content and expands brands’ reach beyond linear TV.
OTT (over-the-top) is a means of providing television and film content over the internet at the request and to suit the requirements of the individual consumer. The term itself stands for “over-the-top”, which implies that a content provider is going over the top of existing internet services.
Today, CTV/OTT advertising is an all but required component of a successful media strategy. With two-thirds of the US population projected to watch CTV content this year, eMarketer projects a 33.1% increase in CTV ad revenues for 2022. US ad spending per person will exceed $1,000 in 2022, rising more than 8% next year. The delivery of digital advertising across CTV/OTT channels is expected to be a market of over $18 billion in 2023.
Studies have proven most purchasing decisions are made at the household level, meaning the key to creating long-term customer connections is to deliver meaningful messaging to the members of the household. With Smart TV sales at record highs and linear TV audiences diminishing, CTV/OTT is the most engaging and cost-effective way to reach them.
Users will be able to leverage Bidtellect’s unique and unmatched performance bidding and optimization technology to seamlessly incorporate CTV/OTT into their media buying strategy.
Benefits of Bidtellect’s solution include:
- Leveraging the company’s cost-efficient bidding capabilities, especially Automatic Algorithmic Rate Determination (AARDvark), which is now available in CTV/OTT.
- Streamlining the planning, trading and execution with Bidtellect’s world-class support.
- Powered by Context — leveraging Bidtellect’s industry-leading context-driven technology and metadata coverage across the entire supply ecosystem.
- Access to the largest CTV/OTT enabled SSPs and premium publishers.
Clients will be able to activate CTV/OTT directly through Bidtellect’s DSP through all service models, with the ability to optimize and target premium content categories across multiple goals and bid types, plus utilize capabilities like budget fluidity, pacing, bid shading, creative flighting and more for maximum campaign ROI. CTV/OTT with Bidtellect will give brands and advertisers the chance to gain new audiences and re-engage with existing audiences in a new, strategic, complementary way.
Bidtellect CEO Lon Otremba
“The way people access entertainment continues to evolve,” said Lon Otremba, CEO of Bidtellect. “In a sea of streaming choices, consumers want a knowledgeable voice to be a directional guide. Consumers are receptive – and expecting of – targeting and recommendations.”
One of the primary differences between OTT and CTV advertising is that OTT ads are typically served in the form of video ads within accessed video content. In contrast, CTV ads are usually served alongside apps that are installed on CTV devices or the device’s homepage itself. As a newer medium, advanced TV presents an evolving variety of monetization opportunities for advertisers willing to keep up.
“Our proprietary optimization algorithms are the smartest, most sophisticated in the industry and determine what creatives are driving results with audiences,” Otremba said. “Bidtellect utilizes a holistic approach to performance targeting that includes both contextual and audience models. Our range of proprietary contextual, targeting and optimization technology drives KPIs for more efficient delivery of ads.”
To learn more about Bidtellect and its offerings, visit www.bidtellect.com.