Increased Demand For OTT Platforms Drive The TV Advertising Industry Growth

The increased use of over-the-top (OTT) media services is expected to drive the growth of the global TV advertising market. OTT offers reach and retention as the video advertisement is 100% viewable and non-skippable. For instance, on OTT platforms such as Netflix, Amazon Prime Video, and Disney+, advertisements are non-skippable and is 100% viewed by the subscriber. These advertisements are known as Subscription Supported Video-on-Demand Services. When such ads are viewed by the audience, it reinforces the brand's message. The total OTT ad spending amount for 2020 was $990 million. Increased increase is forecast in the coming years, culminating in the $2.373 billion projected OTT ad spending in 2025, suggesting that advertising on streaming services is expanding at rapid speed. Thus, the increased use of over-the-top media services is driving the TV advertising market.

In September 2020, Red Ventures, a US-based marketing and advertising company, acquired CNET Media Group from ViacomsCBS for an amount of $500 million. This deal will help Red Ventures to grow personalized consumer experience and expand into consumer technology and gaming by securing network websites which will include CNET, GameSpot, and ZDNet. CNET Media Group is a leading US-based online media company under ViacomCBS, which is a US-based mass media company formed by the merging of CBS Corporation and Viacom.

OTT platform expansion is prominent in health and fitness, education, and other sectors. These platforms also provide lucrative prospects to budding content creators. The Indian population today uses the OTT platform beyond entertainment