Navigating the New TV Landscape
Beyond Acronyms and Labels
In the ever-evolving world of television, the past decade has witnessed a seismic shift. The rise of streaming platforms, coupled with a plethora of monetisation models, has transformed the way we consume content. However, amidst this transformation, there's a growing concern that the industry's obsession with labelling and categorising these models might be impeding progress.
Let's delve into the facts and stats that illuminate this evolving landscape.
The Streaming Revolution
Streaming platforms like Netflix, Binge, and others have revolutionised television consumption. According to Nielsen's 2023 Annual Marketing Report, a significant portion of viewership now occurs on Connected TV (CTV) platforms, with a third of advertisers reallocating 40-59% of their budgets to CTV.
The Alphabet Soup: SVOD, AVOD, BVOD, and FAST
The television industry has coined various acronyms to categorise different monetisation models:
SVOD (Subscription Video On-Demand)
AVOD (Advertising Video On Demand)
BVOD (Broadcast Video On-Demand)
FAST (Free Ad-Supported Streaming TV)
While these acronyms serve a purpose in defining different models, the obsession with categorisation might be overshadowing the broader goal of connecting with viewers.
The Need for a Data-Driven Approach
In navigating this complex landscape, it's crucial to prioritise data-driven insights over rigid categorisations. Understanding audience behaviour and preferences is key to effective advertising strategies.
According to Samsung Ads, two-thirds of TV viewing time on Samsung Smart TVs is spent in a streaming environment.
Marketers across APAC are adjusting their media spend in line with the streaming surge, highlighting the importance of adapting to changing consumer habits.
Holistic Planning for Total TV
A holistic approach to planning TV campaigns is imperative, considering both linear and streaming environments. The focus should be on reaching audiences where they are, rather than getting bogged down in terminology.
Redefining Strategies for Success
As new formats like FAST and SAVOD gain popularity, it's essential to shift the mindset from rigid categorisations to flexible, data-driven strategies. By leveraging real-time insights and understanding changing consumer needs, advertisers can optimise their media mix to meet marketing objectives and maximise reach across a fragmented market of viewers.
Conclusion
The television landscape has evolved far beyond traditional linear TV, with streaming platforms and new monetisation models reshaping the industry. While acronyms like SVOD and AVOD provide useful frameworks, they should not overshadow the broader goal of connecting with audiences. By embracing a data-driven approach and adopting flexible strategies, advertisers can navigate this ever-changing landscape and thrive in the era of Total TV.