Why Should an OTT Media Company Embrace Modern, Cloud-Based Technology?

The modern media consumer has changed the way that content is consumed, and this has had a profound impact on the way that media companies operate. No longer are viewers content to consume media in traditional ways; they want to be able to watch what they want when they want and on any device, they please. In order to meet the needs of these discerning viewers, media companies must embrace modern, cloud-based technology.

4 ways of utilizing technology to improve OTT media company performance

Here are a few ways that OTT media companies can boost their revenue by making use of modern, cloud-based data collection, processing, and analytic technologies:

1. Boost advertising revenue:
   

   As advertising becomes smarter and more personalized, new standards in data management and measurement are being set. For example, when a company increases the level of personalization on its OTT platform, it can lead to a significant boost in revenue from the ads that are presented to consumers on that platform. Snowflake Data Cloud helps resolve identities and enrich profiles so that advertisers can more easily identify their customers and find the best channels for reaching them. This capability helps them develop messages tailored to the needs and perspectives of each customer.

2. Secure PII with data clean rooms:
   

   Data clean rooms is an excellent way for OTT media companies to securely share customer data with advertisers while maintaining consumer privacy. Data clean rooms make it possible for real-time data to be shared without revealing any personal identification information (PII) or compromising the privacy of consumers. Data matching between proprietary data and other data sources also allows advertisers to identify high-value targets, lapsing customers, and opportunities to generate additional sales.

3. Subscriber acquisition and retention:
   

   As an OTT media company, one of the best ways to boost your subscription revenue is by using data-fueled technology. In order to provide a seamless customer experience, you need a deep understanding of your audience. By aggregating data in a centralized, powerful platform, you’ll have all of the data points that you need to mine for insights. Audience analytics will help us personalize marketing campaigns and more.

4. Data monetization:
   

   OTT media companies can sell their valuable consumer data to partner organizations. They can do this by offering their data on data sets such as Snowflake Marketplace, an extensive collection of live, ready-to-query data sets. The data is shared securely, so the consumers’ privacy is maintained while providing robust safeguards.

How OTT Media Companies Use the Snowflake Data Cloud

OTT media companies have long relied on legacy systems and on-premises data warehouses to store and process customer data. However, these systems are costly and difficult to scale. Additionally, they can’t keep up with the real-time demands of today’s OTT media businesses.

Snowflake’s cloud-based data platform offers a flexible, scalable, and cost-effective alternative to on-premises data warehouses. Snowflake’s platform is built for the cloud, which means it can easily scale to support the most demanding workloads. Additionally, Snowflake’s platform is designed for real-time data processing, which is essential for OTT media businesses that need to be able to respond quickly to changes in customer behavior.

OTT media companies can use Snowflake’s platform to build a centralized repository for all their customer data. This will allow them to get a single view of their customers and make better decisions about how to engage with them. Additionally, Snowflake’s platform makes it easy to share customer data across different departments and teams within an organization, which is essential for creating a seamless customer experience.

Fragmented data has made it hard for companies to get a clear picture of their customers and what they want. But Snowflake data helps companies overcome fragmented data by providing an integrated and secure way to share data across an entire organization. With all this data, these organizations are able to improve content and customer experiences, which leads to increased advertising revenue. The team can then develop better advertising spend forecasts, tying ad spending more closely to results for greater accuracy across various channels.

Hire a Snowflake expert from Low-Kode, and our team of experts will help you to get started with Snowflake Data Cloud. Our developers are experienced in working with the Snowflake Data Cloud and can help you get the most out of it.

Conclusion

As the streaming wars continue to heat up, it’s become clear that data is king. And that’s where Snowflake comes in. As the leading cloud-based data platform, Snowflake is helping OTT media companies gain a competitive edge by giving them access to all their data in one place. From customer data to analytics and everything in between, Snowflake is helping these companies make better decisions faster. So if you’re an OTT media company looking to stay ahead of the curve, you need to be on the Snowflake Data Cloud.

Low-Kode has a track record of delivering Snowflake solutions for clients in a variety of industries. If you’re looking for an easy way to get started with the Snowflake Data Cloud, hiring a Snowflake developer from Low-Kode is the way to go.

SUGGESTED BLOGS