The landscape of advertising and live content is rapidly evolving, demanding a deep understanding of measurements and investments to achieve success. In this transformative era, where profitability takes center stage, businesses are seeking innovative strategies to maximize returns on advertising and live content initiatives.
The Future of Video virtual event, "Advertising and Live Content: Measurements and Investments," explored the evolution of video services and its implications for advertising. This blog post highlights the event's key research and industry insights, shedding light on the path forward for companies aiming to thrive in this dynamic environment.
Future of Video covers all topics key to successful strategies in connected entertainment and video services. The conference hosts multiple virtual sessions and an in-person conference November 14-16 in Marina del Rey, California. Register today!
Unveiling Industry Insights
Parks Associates Research Analyst, Sarah Lee, kicked off the event with a comprehensive presentation. She explored the top three trends shaping the industry of advertising and live content:
🎦 New Focus on Profitability: Companies are strategically aligning their efforts to build profitable and sustainable businesses in the streaming era.
🎦 Rise in Ad-Based Services: The proliferation of ad-based online video platforms presents new opportunities and challenges, necessitating a careful analysis of market leaders, consumer preferences, and viewer growth.
🎦 Demand for Live Content: The increasing appetite for live content underscores the need for effective measurement tools and investment decisions to captivate audiences and drive engagement.
Research Insights
Throughout the event, industry research played a vital role in providing valuable insights and supporting the discussions. Here are some key research resources highlighted during the event:
📊 Industry Report | Ad-Based OTT Growth in FAST and AVOD Services
This report focuses on the factors driving the growth of ad-based online video services. It provides profiles and comparisons of market leaders and assesses consumer preferences in watching ad-based content. The report also includes a five-year forecast of viewer growth, offering valuable insights into the ad-based OTT landscape.
📊OTT Video Market Tracker Service
The OTT Video Market Tracker is an extensive analysis of market trends and profiles for over 400 OTT video services in the United States and Canada. It estimates subscribers, viewers, and transactional users for numerous OTT services, including those that do not publicly release customer figures. This research resource helps subscribers gain a comprehensive understanding of the OTT video service provider landscape, including business models, new services, global expansion, and the growth of individual services. Monthly market updates provide valuable analysis of the most important announcements in the OTT market.
📊 Video Services Dashboard
The Video Services Dashboard offers a visual representation of critical indicators used by organizations providing video services to make strategic decisions. It tracks the dynamic and ever-changing video services market, encompassing consumer adoption of OTT video services, traditional pay-TV, and online pay-TV. The dashboard captures evolving consumer preferences regarding video service business models and the use of subscription, ad-based, and transactional services. It also provides valuable insights into movement across service types and brands, quantifying OTT service churn rates.
By leveraging these research resources, industry professionals at the event gained a deeper understanding of market trends, consumer preferences, and the overall dynamics of the advertising and live content landscape. The research reports and tools provided by Parks Associates offered data-driven insights, contributing to informed discussions and decision-making processes within the industry.
Industry Panel: Evolving Ad Strategies - Ad-Supported OTT, Connected TV, and Beyond
The event continued with a panel discussion on evolving advertising strategies, where industry experts shared their insights and perspectives.
Here are some key takeaways:
📈 Profitability: Businesses in the advertising and live content space are prioritizing profitability by finding innovative ways to drive revenue and maximize returns on investments, necessitating the exploration of strategies and best practices for sustained profitability.
🛒 Ad-Based Services: The use of advertising as a revenue model is on the rise, with companies focusing on optimizing ad strategies and partnerships to generate revenue and sustain profitability.
🎬 Demand for Live Content: There is a growing demand for live content among audiences, and businesses are exploring ways to deliver engaging live experiences to consumers, capitalizing on this trend for revenue growth and profitability.
Industry Players' Perspectives
During the session, industry players shared their valuable insights on the topic:
Dave Bernath, VP Sales & Partnerships, Americas, Wurl highlighted the need for new advertising approaches in the streaming space. Content discovery and machine learning play critical roles in helping users find what they want to watch and assisting publishers in reaching their target audience effectively. 🎯
Mrugesh Desai, VP North America, Accedo.tv emphasized the importance of user experience in retaining viewer engagement. From content thumbnails to contextual ads in emerging viewing devices like VR and AR, the user experience plays a vital role in driving consumption and ad relevance. 🎮
Field Garthwaite, Co-Founder & CEO, IRIS.TV discussed the disparity between ad spending and time spent on CTV platforms, as well as the need to focus on average revenue per membership. He highlighted the need for compelling ad experiences to retain audiences, emphasizing that CTV is more akin to digital advertising than traditional television. 📺
Stephen Strong, Co-Founder & Chief Business Officer, Origin underscored the significance of the user experience and the need to provide compelling content during ad breaks. He pointed out the repetition of the same ads, which can be solved through creative versioning and localization of content. By leveraging ancillary and personalized content, companies can deepen viewer engagement and enhance the overall user journey. 🔍
Visionary Spotlight: CTV - The Big Shift
The event concluded with a thought-provoking presentation by Tony Marlow, Chief Marketing Officer at LG Ad Solutions. Tony shared key insights and findings from LG's research on Connected TV. 🎬
1️⃣ CTV reach is at near saturation
2️⃣ Preference for ad-supported CTV is high
3️⃣ It takes almost 6 mins to decide what to watch (native advertising opportunity)
4️⃣ Almost everyone multi-tasks, most of the time… (opportunity extend media onto other screens via LG Ads Household Extend)
We hope this session and the research findings have provided valuable insights into advertising, live content, profitability, and the challenges and opportunities faced by companies in this evolving industry. In this ever-evolving landscape, understanding the nuances of measurements and investments is crucial to stay competitive and achieving desired outcomes. To explore these topics further, we encourage you to dive into our industry report, “Ad-Based OTT Growth in FAST and AVOD Services,” as well as our OTT Video Market Tracker and Video Services Dashboard research services. 📊
The future of video is an exciting frontier, transforming entertainment and communication in unprecedented ways. With personalized content recommendations, immersive VR/AR experiences, real-time interaction, and mobile video dominance, the possibilities are limitless. As technology advances and user expectations evolve, it is crucial for industry players to adapt, innovate, and embrace the opportunities that lie ahead. The future of video is here, and it promises to redefine how we consume, create, and connect through the power of visual storytelling. 🚀
Remember, learning is a continuous process, and we are committed to providing you with the latest research and insights on the evolution of video services and their implications for advertising.
