Broadcasters: How will Advertising influence your 2021?
Throughout 2020, consumer habits and overall viewer behavior changed in direct response to massive global crises. Viewership figures soared during the pandemic as consumers found themselves isolating at home with a feverish desire for fresh and original content.
But how are advertisers looking to spend their money in the media in 2021? Is mobile-first viewing still the driving force it once was? Is over-the-top (OTT) and digital video still an attractive target? As is so common in our industry, priorities change, tastes evolve and technology advances at a rapid pace. For broadcasters, keeping up with these developments can be tough. In this article, we’ll explore the top priorities for advertisers, and how they will impact you, the broadcaster, in 2021.
A decline in mobile-viewing
According to the 2021 Industry Pulse, an Integral Ad Science Report, mobile-first OTT viewing has fallen from the top spot in 2020 to a heavily reduced priority for media advertisers in 2021. Whilst global lockdowns accelerated worldwide viewership numbers, especially in the OTT space, it turns out that most of that viewing will have taken place away from the 5-inch screens in our pockets. A lack of people consuming content on-the-go with their phones during the daily commute is a significant variable – as remote working and widespread isolation ultimately brought viewers back to the smart TVs and flat screens that occupy their homes. For now, it’s important to stay focused on mobile viewing – don’t worry, it’s not going anywhere! Consuming OTT content via apps and the mobile web is undeniably convenient for your audience, whilst also posing massive opportunities for advertisers looking to utilise your content as a vehicle for their messages to reach your viewers. As such, OTT-based ad spending was hinted to breach the $2 billion total mark in 2020.
New priorities
According to the IAS report, the top 3 advertising priorities for 2021 centre around digital video (OTT), connected TV and social media platforms. 88% of respondents to the report concurred that developments in digital video, OTT and connected TV would accelerate the ongoing shift in ad spending from linear TV to the digital landscape. This makes sense – 80% of all internet traffic can be attributed purely towards video streaming. In case you needed any further motivation – 2021 is the year to embrace digital video and OTT delivery for your content.
OTT holds the key to help not only make your content more accessible, but open up a wealth of financial opportunity. The opportunity for shared revenue between the content owner and the broadcaster/platform makes for a less risky, highly profitable venture. A key development taking place behind the scenes of OTT and digital video platforms revolves around measurement, data and analytics. For any ad strategy to truly function and be successful, it must be data-driven. In 2021, we can expect further strides to be made to achieve standardized identifiers and data measurement platforms that pose immense benefits for both advertisers and broadcasters. Brands can expect to gain an even better understanding of how their ad campaigns perform against specific demographics and audiences, which helps broadcasters to place ads more effectively with a clearer focus on ROI. With SCTE 35 ad insertion, streamlining your commercial processes has never been easier.
Social media advertising has long been a hot topic amongst the advertising industry – providing an exciting and relevant means of reaching specific, targeted audiences on a multitude of platforms. Analytics on such platforms are thought to be industry-leading and highly intelligent, often offering unique insights into metrics like conversions and the detailed customer journey. Social media broadcasting and live streaming has become a staple of the core platforms like Facebook and Instagram – not to mention the vast potential that YouTube holds. Watch parties, premieres and clever integrations courtesy of the social media giants have proven that television can be consumed, discussed and enjoyed entirely within a social network environment. You will also see plenty of trailers, clips and supplementary content from shows and films trending on social media – a relatively inexpensive method of gaining some serious traction and awareness for an upcoming episode or release. The instant feedback approach from constructive viewer comments and community discussion on these platforms can also be a great tool to improve your content and modify your offerings. Of course, any negative comments and opinions can derail hopes of a truly wholesome audience reception – and may prove to be an issue with advertisers hoping to utilise your content. On the whole, however, social media is still as cost-effective and exciting for your content as it was in 2020.
As we continue our journey into the ‘connected decade’, a flurry of new entrants and technological advancements promise to invest in the future of connected TV. Targetable and hyper-relevant advertisements continue to attract more and more spending away from the traditional broadcasting activities. The focus for 2021 is, of course, connectivity – harmonisation of content and ad delivery across a number of platforms, both digital and non-digital. For advertisers, this helps to create a successful integrated marketing communication strategy – the same message and proposition delivered seamlessly across multiple platforms. For the broadcasters, a connected approach will pay dividends in the long-run as brands look to co-ordinate their marketing efforts and exploit as many touch points as possible. Connected TV is definitely a concept that broadcasters should be exploring on a deeper level throughout 2021.
Conclusion
As stay at home behaviour persists, it is clear that changes to how consumers interact with and absorb content will continue to influence advertising expenditure well into the new year. Digital content and OTT delivery will play a huge role in dictating ad spend well into this new decade. To attract and satisfy advertisers in 2021, it’s crucially important that you stay on top of your digital content strategy.
At PlayBox Technology UK, we are at the forefront of OTT and digital content playout solutions. As the OTT revolution shows no sign of slowing down, it’s a golden opportunity to enhance and expand your content and advertising offerings. If you’d like to get in touch with one of our experts to discover the best options for your business, get in touch here.