The media OTT world is getting increasingly crowded. Disney’s video-on-demand streaming service launch in 2020 attracted 10 million subscribers in its first 24 hours in just the US, Canada and Netherlands. Subscription video-on-demand platforms such as Netflix, Hulu, and Amazon Prime Video have accumulated millions of monthly active users and provide access to a variety of movies, TV shows, and documentaries at the click of a button.
This kind of growth brings with it a lot of opportunities and challenges for video service providers and the unprecedented uptake and consumption of OTT video services and other digital media and entertainment are leading providers to utilize smart data enhancements such as artificial intelligence (AI) and machine learning to fully understand their customer base.
A key differentiator in the success of these players is their understanding of their audience and the ability to deliver relevant content. User behaviour analysis and AI/ML-based personalized recommendations play a significant role here.
To address these challenges you need to have a deep sense of your customers’ journey, You need to know exactly WHAT is happening in your video service, WHY it is happening and WHAT’S NEXT in order to launch hyper-segmented campaigns and make an impact only on the specific group of users you want to address at a specific time with a personalized offer.
With that purpose in mind, we will explain in this Whitepaper how to use data smartly during the acquisition, engagement, and retention phases: