It’s nothing short of incredible. A universe of entertainment in the palm of your hand. Tens of thousands of hours of movies and TV, documentaries and short form video available on your iPhone 6 (or Xiaomi Mi4i!). Countless new providers are launching mobile OTT services, each one vying for your attention. How can they cut through?
New services like Verizon’s Go90 that are targeting a Millennial audience have a number of tactics at their disposal. One is to offer compelling content. Unconfirmed reports have partners like DreamWorks, Scripps, Vevo, Vice, ESPN and CBS Sports as launch services. This is a great start. And no doubt, the service will feature a compelling business model, innovative social features, and a best-of-breed user experience.
Millennials are a fickle bunch though, one that is very prone to churn. The rates of churn with OTT services like Hulu are an astonishing 50%. Even if the underlying economics are different from traditional cable services, re-engaging and retaining online video customers is a major issue. Especially among 18-24s, who have an array of newly launched and about to be launched services targeting them.
One of the major industry trends is a shift to a new consumption model based on push, rather than pull. Content needs to find its audience, rather than the other way around. With the upper limit of apps used by the average consumer in a month peaking at around 24, standing out by proactively engaging users becomes paramount. Push video is one solution for selecting and pre-loading the right content, revealing it at the right moment, and delivering a flawless HD video experience. With the right push strategy, engagement can be increased by 3x.
The new era of OTT variety is exciting, and it’s indicative of the changes that are causing massive disruption to traditional industry players. Users don’t always want to search for something to watch. What they want to watch should find them. Getting a user to download an app and sample your service is just the beginning. You need to keep them coming back. Premium video services deserve premium re-engagement strategies. Today’s mobile audiences won’t tolerate anything less.