OTT advertising outperforms other mediums like social media: Gavin Buxton, Magnite

At the e4m Screenage Conference 2022, Buxton, MD (Asia) Magnite, discussed key insights from the company's recent study on streaming in India

by Team PITCH
Published - November 23, 2022
3 minutes To Read
OTT advertising outperforms other mediums like social media: Gavin Buxton, Magnite

Gavin Buxton, Managing Director, Asia, Magnite the independent omnichannel sell-side advertising platform, unveiled key insights from the company’s recent study on the performance of streaming platforms at the e4m Screenage Conference 2022.

The study “India Embraces the Streaming Era” revealed that ads on streaming platforms are more likely to capture the attention of the consumer, concluding that marketers running ads on streaming platforms may have more fruitful outcomes.

The study performed in partnership with Dynata was based on interviews with 2,500 Indian representative audiences.

During his session, Buxton revealed to the audience the findings that have emerged as a result of the study. "Streaming is for everyone so for our research we're seeing that it's hit a mass audience. Streaming is also preferred over TV for the connected users that are out there," he stated.

The study also revealed that while mobile is the lead Device, connected TV is rapidly growing and streaming ads grab more attention than other media. 

Buxton also noted that the ad-funded method is preferred by people in terms of content access versus paying and that live streaming is now becoming mainstream in terms of sports viewing.

"There are over 450 million internet users who are streamers in India -- a significant amount. This is where we kind of really call out that streaming has come of age and has hit scale in India," he said emphatically.

He broke the findings down further: "Nearly two-thirds of India’s streamers (64%) are more responsive to advertising on streaming platforms, with many stating they often search for the product (48%) and make a purchase (33%) after the fact."

The study also found that free or ad-supported content is preferred to paying for an ad-free experience. 80% of streamers prefer to watch ad-supported content versus subscribing to an ad-free platform for a monthly fee.

Two-thirds of streamers also prefer to watch streaming services over traditional TV and streamers rank the quality of content, platform usability and content discovery as the top factors driving their decision to stream. The majority (75%) of streamers are streaming more video content than a year ago and 66% expect to stream more next year.

When it comes to time consumption, Buxton believes that TV is still a big part. "TV, UGC, Social networking, it is all clocking up about 16 hours each overall video consumption across all these areas accounting to 66 hours a week," he pointed out.

Talking about the merits of streaming, Buxton emphasised, "OTT is unmatched in its ability to engage viewers and we commissioned this study to better understand consumption patterns across the rapidly growing India streaming audience."

"One of the study’s key findings shows that OTT advertising outperforms other mediums like social media when it comes to attention and purchasing power. With three-quarters of video viewers streaming more now than a year ago, advertisers should be actively exploring this channel to reach the right audiences”, concluded Buxton.