How meta-tagging platforms are revolutionizing the OTT industry through AI
As more people own smartphones and have access to the internet, the number of OTT users has increased manifold and is expected to reach 250 million by 2021 according to EY’s report.
Have you ever given a thought to the ads that you come across while streaming videos online? Most of us tend to overlook these and are quick to close them for the simple reason that these ads interrupt the video on most occasions. Sometimes, the products being advertised would capture our attention. However, most of us would have been interested in products that appear in the movies/TV shows that we are streaming. What if we could shop from that directly? This is exactly what meta-tagging businesses are doing.
A vast majority of us today consume content on OTT platforms. The percentage of people using OTT platforms has increased exponentially in recent times. Between 2016 and 2019, India’s OTT industry saw a surge of a whopping240%. The key reason for this jump, is technology, increased internet penetration, and smartphones. By the end of 2021, the Indian OTT market is expected to reach USD 6 billion. One of the factors driving this revolutionary progress is meta-tagging platforms. Let us take a look at what meta-tagging platforms are and how they are transforming the OTT industry.
What is metadata and meta-tagging?
For emerging brands in the media industry, the digital world that exists today offers a plethora of opportunities to build innovative solutions that are intricately linked to the core aspects – metadata and meta-tagging. What do we mean by that? Simply put, metadata is merely data about data. While this may sound confusing to most, let us break it down. Metadata is just data that provides us information about other data.
Metadata: The key to unlocking OTT’s potential
Today, metadata has evolved to a great extent and includes complex structures as companies expand their assets in the form of digital videos such as the ones on OTT platforms. Meta tagging, on the other hand, is simply a platform leveraging metadata powered by new-age technologies such as AI to tag products on OTT platforms. How do they do this?
For instance, meta-tagging platforms leverage a slew of features such as image and facial recognition, object identification, emotion recognition and even location identification to create ad placement in such a way that it is non-intrusive to the user using a carefully designed combination of textual content and keyword mapping driven by artificial intelligence.
In more ways than one, metadata becomes the key to the OTT industry’s success. First and foremost, metadata helps OTT platforms optimize and streamline the content through titles and meta tags. Metadata is also effective in content mapping which is imperative to the OTT industry. Integrating smart analytics such as AI only offers and an additional boost to the OTT industry in offering a consumer-friendly service. Ensuring that you add a crisp meta description to the video will allow platforms to determine what the content is and show the results to users accordingly.
Apart from this, meta-tagging in the OTT industry also makes for brands creating shoppable videos using cutting-edge technologies such as AI and ML. Live commerce has been gaining traction wherein there are real-time ads that allow you to shop from the videos by directing you to an e-commerce website. With a mixture of the streaming time, ad impressions, and commission on the products, meta-tagging platforms also help the OTT industry generate revenue.
To sum it up, tech-led innovation is driving the transformation and progress of the OTT industry. With increased digitization and ever-evolving technology, it is needless to say that meta-tagging platforms will only further propel the OTT industry in the future.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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