Post-covid, OTT firms script a cut in marketing spends

Platforms slash marketing budgets by up to 40% over the past year, rationalize content costs

- Latajha lata

Video-streaming platforms have reduced marketing budgets by up to 40% over the past year, and rationalized content costs, as they shift their focus to profitability in a cutthroat market where producers are vying to grab a fickle audience's attention, industry experts said.

These platforms have eliminated mega outdoor advertising initiatives and cut down on multiple appearances by the lead cast. Instead, digital has taken centre stage, along with influencer marketing.

"Our approach is to determine outcomes expected from each title based on data and analytics that we have, and accordingly plan our spends. Depending on target audience, we select mediums. We have been prudent in our spends in 2023. However, we are making sure that the right content gets its due from a marketing standpoint, whether it's a film or show," Rajshekar Baddam, head of marketing at aha, an OTT platform that programmes in Telugu and Tamil languages, said.