There is a cut-throat competition in the OTT market and as a content distributor or media broadcaster, you need to understand where to invest your money. To get that information what better than paying attention to your OTT analytics to understand which content generally works with your audience. This can help you invest in generating more of such contents that will help you increase viewership as well as a retention hook for your subscribers to stay back. Besides maximum revenue growth and reduced churn rate, having the viewers engaged with a wide variety of contents is some of the key principles of a successful OTT platform.
OTT analytics ensures you get the valuable insights into content performance, revenue and technical stats to shape the user experience, improve streaming quality and put personalization in the lead.
3 Must-know Aspects of OTT analytics
As a media broadcaster or content creator, you need to keep a tab on which contents are doing well amongst your audience and which content isn’t. It will help you to make well-versed decisions while making a new content, removing unpopular content and recommending similar types of contents to the users. Analytics provides insights on the average time watched, watch history, engagement as well as search enquiries to help OTT platform owners create a tailor-made experience for each user as well as boost content consumption.
It is vital to ensure that you offer your audience with abundant contents across all genres. You must also ensure that these contents are correctly categorized that makes it easy for your audience to find their preferred contents. Analytics can help you find out if your contents are organized properly or if it’s getting hidden by tracking views, clicks and search terms.
Another major aspect that every publisher must know is Revenue analytics. It helps to get the most accurate revenue pictures and how it can improve it to generate maximum revenue stream in the future. It will help you identify which content or content category is generating the most or least revenue. You can also identify which channel is producing most or least revenue and what is your sell-through rate.
It also helps you which of the monetization models is maximum profitable for your business. Whether it is SVOD, AVOD, TVOD or Pay Per View, or any type of subscription model, insights on revenue analytics will help you focus more on your monetization model and make more out of your existing content.
After building a huge customer base, the next thing you want to focus on is how to retain them. To ensure highest customer satisfaction, your OTT platform must be fast, easy to navigate and upgraded with the latest features. Analytics can offer valuable data such as load times, buffering, drop frames, issues with particular players or ISPs.
OTT platforms with issues like slow streaming, often crashing and frequent interruption problems will lose viewers. To prevent subscription cancellation and maintain a good base of customers, OTT platform owners must frequently check the technical stats and fix those issues as quickly as possible before they become a headache.
Why is OTT analytics Vital?
To Improve User Experience
The first and foremost reason to focus on analytics is to provide an enhanced user experience. You can address the common issues like buffering, crashes and bitrate loss from the analytics and improve them to retain your user base.
Identify the choice of your audience
OTT analytics provides valuable insights into user’s preferences that helps platform owners curate contents according to the data. It scales quality and delivers the experiences that audiences demand. You can also categorize users based on the user’s device, location, or network quality.
Improve App Performance
Analytics evaluates videos across locations as well as devices to provide you actionable insight. These insights offer vital data on your application stability and rendering quality. Such data can help finetune your app’s performance.
Identify the content that work
Identifying audience taste is important to deliver content that your audience will love to watch. Insights into the genres and categories of contents that your audience loves to watch will help you curate a better content library and enhance the user’s experience. Ultimately this will reduce churn rate and help retain customer base.
OTT Analytics ensures you make smarter decisions when it comes to content curation, revenue generation and technical advancements. The OTT market is expected to grow and reach $223 billion by 2026 and improving customer experience and providing quality content is vital to set your OTT platform best from the rest. Analytics are valuable for remaining successful among the top players in the industry.
Muvi One helps you analyze the performance of all your contents in detail per minute. Our analytics and reports will help you discover the real performance of your contents allowing you to continuously improve your content library and boost revenue generation. Take a free trial and explore how Muvi can help you get detailed analytics reports to improve your streaming business. We will help you with data migration, customization, and integrations.