Key Insights From the 2023 OTT Executive Summit

The SiteSpect team recently attended the OTT Executive Summit back in December, presented by OTT Executive (a division of Trender Research, Inc.) We were thrilled to have been there! 

The in-depth sessions offered great information on the world of Over-The-Top (OTT) media services. These OTT services include platforms like smart TVs, AppleTV, Chromecast, PlayStation, Xbox, Firestick, Roku, and others. 

The Executive Summit brings together the top minds in video content, distribution, and technology to discuss how OTT is enabling new business models for both traditional TV providers and streaming video innovators. 

In this blog, we’re breaking down five key takeaways our team gathered from the Summit, starting with a big one: Privacy. 

1. The Role of Privacy in Media 

There was a universal emphasis on privacy across many media companies at the OTT Executive Summit. This was no surprise to the SiteSpect team.

From various presentations throughout the event, we learned many companies have dedicated privacy teams on hand. These privacy and security teams’ goal is to move towards a more controlled, internal solution for managing the sensitive data of their customers or clients. 

Here, peace of mind is the name of the game, and it aligns perfectly with SiteSpect’s stance on privacy and security. 

Our platform is the most secure A/B testing solution on the market, delivering an OnPrem solution, as well as via our private SaaS cloud. Our patented architecture sits in the flow of traffic, making us compatible with the high level of security you offer your customers. 

Plus, we’re certified by a third party for PCI compliance, and we’re one of only a few providers willing to sign a BAA with Healthcare organizations in support of their efforts around HIPAA.

2. Monetization of User Data

For the most part, companies seemed to be against monetizing user data externally in any standalone fashion. So what are they choosing to focus on instead?

They are shifting their attention to using user data strictly to enhance user experience and advertiser value. This is a conscious effort to prioritize the user—acknowledging that data is a powerful tool. And when used responsibly, can enhance the overall digital experience for everyone involved.

This shift also aligns perfectly with SiteSpect’s stance on user privacy and security and our ability to enable A/B testing in secure site areas while still adhering to user privacy requirements. Our platform is:

• CCPA Compliant
• GDPR Compliant
• PCI DSS 3.2 Certified

With our solution, you’re safe and secure.

3. Emerging Trends in the OTT Space

While there were several trends highlighted at the OTT Summit, we wanted to give you the top 5 we believe are most important.

1. App Bundling: A surge in streaming services being bundled with products and other services, indicating a shift in how content is packaged and sold.

2. Rise of FAST Channels: An increasing number of Free-Ad-Supported TV channels, pointing towards a diversification in content delivery methods.

3. Exclusive Content & Evolving Ad Formats: The pursuit of exclusive content and innovative ad formats suggests a dynamic change in content strategy and monetization.

4. Data-Driven UX & Advertising: Leveraging data to enhance user experience and advertiser targeting, especially through connected TVs, is set to become more prevalent.

5. Focus on User Engagement & Lifetime Value: Strategies to reduce user churn, staggered show releases, a focus on Revenue Per User (RPU) and Customer Lifetime Value, were emphasized as key to sustaining growth.

These trends underscore a transformative era in the OTT landscape. At SiteSpect, we’re dedicated to supporting you every step of the way.

4. Audience Demographics

The SiteSpect team also noticed a shift in the viewing habits of college and entry-level workforce ages. Their preference?

Gaming consoles, app-based video, and mobile platforms. Not exactly breaking news—we’ve all lived through our early 20s. Yet, while this trend might not come as a shock, its implications are something to take note of. It demands adaptation and innovation in how content is delivered and the overall user experience (UX) design.

Understanding and catering to these preferences is a must if you are targeting these audience demographics. 

At SiteSpect, we give you the access you need with our cross-channel testing capabilities. Your A/B tests will have a consistent experience across devices, like mobile, OTT, and IoT. The result of this approach?

An overall enhanced customer experience and smoother conversion.

5. The Future Landscape

As we wrapped up the December OTT Executive Summit, this blog wouldn’t be complete without offering a sneak peek into what lay ahead.

So, here are four compelling areas everyone agrees are set to shape the landscape in 2024: 

1. We expect to see advances in AI for content discovery and personalization. While this could be great for many people, you’ll still need to A/B test the outputs—no matter how good they get.

2. Virtual reality experiences and user-generated content will be on the rise, thanks to advances by Meta (Meta Quest 3) and Apple (Vision Pro). These immersive experiences are here to stay.

3. Love it or hate it—the integration of eCommerce within content viewing will make a push in 2024, alongside advancements in gesture and language control. You’ll be able to make a purchase while watching your favorite show, with your remote.

4. Following along the lines of the trend above, we expect to see an emergence of interactive TV features and cross-channel navigators. From interactive features woven into your favorite shows to cross-channel navigators that simplify content discovery across platforms, it’ll be exciting times for engagement and connectivity.

At SiteSpect, we’re not simply observers of these trends. We’re committed to staying at the forefront of them to ensure our clients are equipped to capitalize on the changing times. 

Final Thoughts

We believe these five insights gathered from the Executive Summit will help shape our strategies at SiteSpect as we continue to serve the Media and Entertainment market in the coming years. We’re excited to continue to serve this space and it was great to validate that our experimentation platform is uniquely positioned to address many of the industry’s common challenges.

If you want to learn more about what SiteSpect can do for your organization, request a free demo and dive in.