By: John Reigart, Principal Product Manager, Verizon Media
In 2019, OTT churn reached 35%.* The most common reason consumers cited for leaving a streaming service was to reduce household expenses. The second cause for cancelation was viewers feeling that finding anything good to watch was too challenging. With the OTT landscape becoming more crowded, it's never been more important to keep your viewers engaged. If not, they will leave.
To help your business truly connect with and retain viewers, Verizon Media has partnered with IRIS.TV, integrating their video personalization and programming technology with our Media Platform. IRIS.TV applies machine learning to automatically serve up more relevant content and playlists based on audience preferences, user interaction and behavioral segmentation. The impact of this integration can lead to dramatic results. After integrating IRIS.TV, some OTT services have seen as much as a 62% increase in viewing sessions and a 10% decrease in bounce rates.
The IRIS.TV integration with Verizon Media enables media organizations to improve OTT monetization by:
Delivering personalized content: IRIS.TV leverages metadata enrichment services like Azure Video Indexer to aid their machine learning engine to better match content to viewer behavior and what they are most likely to watch, encouraging longer viewing sessions.
Lifting AVOD revenue: Personalized content drives higher engagement, so viewers are more likely to watch content until the end, including ads.
Informing content acquisition decisions: Understanding what content drives engagement helps media organizations understand its true dollar value. These invaluable metrics can be used to drive subsequent content views and increase the value of ad avails.
Leveraging Verizon Media Smartplay technology: Smartplay's personalized manifest technology enables media organizations to take advantage of IRIS.TV's content intelligence to deliver highly engaging personalized content to every viewer that hits "play."
Every month, another streaming service goes live. As a content owner, it is critical to continue demonstrating the value of your streaming service and, more importantly, create deep engagements with your viewers. With Verizon Media and IRIS.TV, you'll be able to truly connect with viewers by delivering ultra-personalized experiences that engage viewers longer and build loyalty that results in increased revenue.
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