While everyone seems to be taking advantage of the ad-free streaming hits, many experts say that jumping on the trend isn’t the best strategy.
Several brands have made their way into the third season of Netflix’s ‘Stranger Things’, however, there are still some doubts about whether streaming platforms can improve brand recognition. This fact doesn’t seem to faze the brands in sponsoring the shows in streaming platforms in exchange for product placements.
Growth of streaming video platform
Streaming video platforms took audiences by storm. Streaming services now more users than traditional TV channels. Due to this, advertising opportunities have grown outside the traditional TV as well. The growth of SVOD and OTT compared to traditional TV is very apparent that Stacy Jones, CEO of Hollywood Branded said that they get three to four brands a week approaching them about SVOD (streaming video in demand) opportunities.
Netflix released a data specific to its users and it shows that subscribers watch an average of two hours per day. This study revealed the same results with the 2019 report from the Bureau of Labor were an average American over 15 years old watch an average of 2.8 hours per day.
Echoing this, Ern Schmidt the chief strategy and service officer at Branded Entertainment Network, added Jumping on the bandwagon isn’t a good idea. He explained there’s too much content available for brands to box themselves into just one platform.
Marketing experts suggest that instead of putting all their budget in one strategy, it’s best to first explore their brands best options. If they want the work with a streaming platform, marketers need to know which of the streaming strategy is best to invest in. One way of knowing the perfect streaming technique is to specify the kind of product integration the marketers want. To keep up on the pulse of marketing news and new ad opportunities subscribe to the Holler Hustle for updates.