What Are the Best OTT Advertising Platforms in 2023?

October 11, 2023

Before we can answer,What are the best OTT advertising platforms?” the first question wellness brands must ask is, “Who is my target audience?” 

Working with wellness brands over the years requires the essential step of conducting a comprehensive behavior analysis. At the core of any successful advertising campaign is knowing exactly who your target audience is and how to reach them. 

As over-the-top ads continue to be on the rise, it’s more important than ever to know your buyer personas front to back. Because streaming services offer such a targeted approach to video advertisements, knowing precisely who you want your brand to reach is imperative. Use OTT targeting to your advantage so you can then identify the appropriate OTT advertising platforms for your brand. 

After you’ve identified audience demographics and psychographics for your brand, it’s time to put this data to work! Based on your findings for your audience data, the next step is to choose the best OTT advertising platform for your brand.  

Let’s connect with these top OTT platforms!  

What Are the Best OTT Platforms That Companies Use? 

Call it the golden age of streaming! Numerous streaming services have come out in recent years. It can be challenging to keep track of them all! Consumers are faced with an abundance of choices when it comes to which streaming platform they choose to use and subscribe to.  

Some subscribe to all of them, so they don’t have restrictions on watching the TV shows and movies they want. Others might pick and choose one or two platforms to subscribe to at a time. It’s a mix-and-match process to find that perfectly personalized and customized experience for the digital-age viewer.  

Knowing this, audiences are constantly changing with OTT advertising platforms. Viewers are coming and going through a revolving door of consuming media. This is where the question becomes a bit more complicated when deciding which one to stream your ads on.  

Learn more about the type of audience these platforms target, their unique benefits, and costs to make the ultimate decision for your wellness brand!  

Netflix 

Netflix is arguably one of the most recognizable OTT advertising platforms and pioneered the movement to streaming popularity. Netflix subscribers can watch various TV shows, movies, and documentaries with their service. With over 200 million subscribers, it’s safe to say this is a huge resource waiting to be tapped into for brands. When targeting viewers with video advertisements on Netflix, brands can use parameters such as genre, age, content rating, time of day, and location. Advertisers can expect to pay higher rates to advertise on Netflix, with the latest rate at $39-$45 cost-per-thousand impressions.   

Amazon Prime Video  

Coming in close behind Netflix in popularity, Amazon Prime Video boasts over 175 million viewers worldwide. Amazon Prime subscribers pay a monthly or yearly fee to access free Prime shipping along with top-rated movies and TV shows. When Amazon Prime subscribers view their streamed content, specific programs have ad-sponsored content or are available to stream with ads. Brand ad placements are played throughout these videos at particular intervals. If your brand is considering running ads on Amazon Prime Video, the price tag will range between $25 to $75 cost-per-thousand impressions.   

Hulu  

Hulu is a streaming platform with 46.8 million paying subscribers—needless to say, this is one of the most popular OTT advertising platforms! Hulu offers a broad range of widely known TV shows and movies along with a live TV option. Hulu advertising allows brands to target users based on data such as their location, demographics, interests, and purchase history. Hulu enables brands to create various types of ads, such as long-form video advertisements for commercial breaks, and pause ads that appear when viewers pause their streaming session. If your wellness brand decides to advertise on Hulu, expect to pay a rate of $30-40 per thousand impressions.   

Peacock  

Peacock video streaming was launched by NBCUniversal, offering a free tier and premium subscriptions. Users of this OTT platform can stream shows, movies, exclusive originals, live news, and sports. With roughly 30 million monthly active accounts, advertisers are diving into the opportunity to run ads on Peacock. When choosing to buy ads on Peacock, there are different types such as trending, engagement, explore, among others available. Expect a cost range similar to Hulu, with $30 to $40 CPM for advertising on Peacock.   

YouTube TV 

Not to be confused with YouTube Premium (which is the ad-free version of YouTube), YouTube TV gives viewers access to 85 channels, including live TV for sports, entertainment, and news channels. Wellness brands can utilize ad features on YouTube TV, such as in-stream, bumper, and display ads. YouTube TV ads have been reported to cost from $10 to $14 CPM—good news for brands looking to find a cost-friendly option!  

Grow Your Brand with OTT Advertising Platforms  

When we revisit the question, “What are the best OTT advertising platforms?” it all depends on your wellness brand’s unique campaign goals, budget, and target audience. Whether your brand advertises on Amazon Prime Video, Peacock, YouTube TV, Netflix, or Hulu advertising, they all reach a wide range of viewers. Take the time to fully identify your ideal audience so you know where and how you can aim to reach them. Whether that’s with specific programming or viewing behavior data, it all encapsulates your marketing strategy with OTT advertising platforms. 

An integral part of deciding which of the streaming platforms to use lies in consumer behavior. At Cultivating Media, we’re dedicated to understanding where your target consumer spends time and how to reach them. We prioritize working with wellness brands that align with our mission of promoting a healthier world through strategic digital media buying. 

Connect with our team and learn more about how OTT advertising can drive the results your brand desires most!

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