Data-Driven Storytelling: OTT Platforms’ Key to Success
The OTT industry’s growth hinges on effective content strategy, driven by data analytics and personalized recommendations. This was one of the key takeaways from the fireside chat on ‘Data-Driven Storytelling: How OTT Platforms Use Analytics to Shape Content Strategy’, held as part of SCREENXX Summit and Awards 2024 organised by Adgully yesterday (November 13, 2024).
Industry leaders from Amazon MX Player, OTTplay, and Hoichoi discussed innovative approaches to customer acquisition, retention, and monetization, highlighting the importance of data-driven decision-making.
Moderated by Divya Dixit, Chief Growth Officer of One Health Assist, the panellists included Amogh Dusad, Head of Content at Amazon MX Player; Avinash Mudaliar, CEO and Co-Founder of OTTplay and HT Labs; and Soumya Mukherjee, Chief Operating Officer at Hoichoi.
Avinash Mudaliar began the session by explaining OTTplay’s approach to personalized recommendations through advanced data analytics. He shared insights into the company’s strategy of leveraging data to create customized content packages, using a robust team of data scientists to analyse viewer behaviour across multiple parameters, including content type, watch time, and language preferences. According to Mudaliar, the platform categorizes users into cohorts based on detailed consumption patterns, which inform tailored content bundles that resonate with specific audience segments.
Mudaliar emphasized OTTplay’s cost-effective customer acquisition model. While digital acquisition costs can be steep, OTTplay mitigates expenses by employing a diverse acquisition strategy, including partnerships with telecom providers and local cable operators. He explained how these collaborations reduce customer acquisition costs by reaching users outside the crowded digital ad space. Additionally, OTTplay employs a hands-on approach to user engagement, assisting subscribers in navigating the platform and activating subscriptions, especially for customers less familiar with OTT technology.
Hoichoi’s Soumya Mukherjee discussed the platform’s success in monetizing content for regional language audiences, specifically Bengali speakers. Mukherjee attributed Hoichoi’s profitability to a deep understanding of viewer preferences and a data-driven approach to curating content that appeals to regional and international Bengali-speaking audiences. Hoichoi’s unique blend of content and a comprehensive in-house analytics team enable the platform to cater effectively to Bengali-speaking viewers in India, Bangladesh, and abroad. Mukherjee emphasized that localizing recommendations in regional languages is key, noting that Hoichoi’s algorithms cater to language-specific content preferences, enhancing the user experience and fostering loyalty.
The discussion underscored the vital role of data analytics and targeted recommendations in engaging viewers while optimizing costs and driving revenue. Each speaker’s insights illustrated the industry’s evolving landscape, where a combination of content personalization, strategic partnerships, and deep analytics is essential for sustained growth in the OTT sector. The session provided a comprehensive look at how platforms like OTTplay and Hoichoi are pioneering customer-centric approaches to meet the diverse needs of India’s vast digital audience.
These are edited excerpts. For the complete panel discussion, please watch below:
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