The OTT audience — and technology and programming — continues to grow by huge volumes every year. Many media companies are paying attention.

TV stations — and some publishers — are putting more focus and resources in the boom that is OTT.

However, there are challenges like monetization and programming that many are trying to find solutions for.

The Local Media Association’s latest Innovation Report focuses on what’s happening in this space and how companies can jump in and address those big challenges.

Here are a few of the biggest takeaways of the report:

1. Take advantage of dynamic ad insertion: Don’t just re-transmit broadcast commercials into your streaming content. Rather, dynamically replace and then geotarget the ads. This can allow for your smaller businesses to buy targeted advertising with more strategic budgets.

2.  Know that better data will be coming: Because of technologies like automated content recognition, the data that television stations and publishers are currently receiving, will improve. Automated Content Recognition offers a better experience for the viewer based on what it can recommend. There are also nice opportunities for the advertiser, too. The technology can create profiles of viewers which could open up opportunities for advertisers.

3. Load up your streaming channels for big news: There are big opportunities for breaking news when it comes to streaming. Especially if there is archival content, news organizations can really maximize the opportunity with hours of streaming programming.

You can download the report here.