The OTT industry isn’t just an alternative for linear cable; it is now a money-making machine, the most successful one in the entertainment industry. And now, to be more and more included in every household, most OTT players are promoting their advertisement-supported plan to ‘’cut the cost.”
For most OTT platforms, it has been a major success, along with the spice of password crackdown. Netflix was definitely the bravest as they started the trend, and Prime Video adapted the strategy in January while notifying the users from last year.
Talking about the success of the new blueprint, CEO Andy Jassy narrates, “Recently, we’ve expanded our streaming TV advertising by introducing ads into Prime Video shows and movies, where brands can reach over 200 million monthly viewers in our most popular entertainment offerings, across hit movies and shows, award-winning Amazon MGM Originals, and live sports like Thursday Night Football.”
Regarding the growth from advertisement, it already grew 24% from last year and reaches $47B, primarily driven by sponsored advertisements.
“We’ve added Sponsored TV to this offering, a self-service solution for brands to create campaigns that can appear on up to 30+ streaming TV services, including Amazon Freevee and Twitch, and have no minimum spend.”
Prime Video took a really surprising step, and they had a lot of trouble finding sponsors. We did an article on this issue as a giant like Amazon couldn’t find sponsors. However, they ultimately found the way, and now they are doing well with that.