The Future of Broadcasting - How OTT, On Demand and 5G is fueling consumer appetite for more content…and creating new revenue streams
One of our favorite times of year here at BroadView Software is what we affectionately dub, NAB Season. It’s a time when, as a team, we get to reconnect with our international colleagues, partners, clients and industry leaders while showcasing our latest updates and offerings. It’s also a time when we can initiate meaningful conversations about what we think will be trending in the coming year, and where our respective industries will be headed in the years ahead.
At BroadView Software, we pride ourselves on being the most trusted, industry-leading, media management solutions tech firm. For over 20 years we have been proud participants at NAB, the largest broadcast and technology show in North America.
We sat down with BroadView Software’s Founder and CEO, Michael Atkin, to talk about where he sees the future of broadcasting headed. Every year, someone sounds the death knell for television and the traditional media in general. And while there is an undeniable rewrite to the rule book taking place, thanks to changing consumer viewing patterns and expectations, those same consumers are reaffirming their love of content and their desire for even more access to content – when and where they choose to watch it.
While he can’t predict the future, Atkin provides some substantive insights into where the industry is headed in the coming few years; and what trends to pay attention to as you plan your days at NAB:
Continued movement towards apps and OTT: Broadcasters want one simple thing: a direct relationship with their consumers. Here’s where the convergence of content that Atkin talked about last year really fulfils its hype. If we look back, what’s the compelling reason that Disney bought Fox? Fox’s content library was huge; they had a hundred years of content in their vault. Disney had a strong library, but it was not diverse. They had many holes that FOX could bolster across multiple genres. The networks were a bonus, but not their motivation. For Disney to compete with other streaming services, truly compete, they had to have more content. If you do not have depth of content you will not get subscriptions. So, now that you have a treasure trove of content, add an app that allows you to monitor, interact and get direct feedback from your consumer, and you’ve hit a gold mine of real time data that executives, content producers and advertisers will salivate for. No more waiting for reports, a simple thumbs up or thumbs down can provide real time feedback on if they liked a specific program or episode twist, what they crave more of, viewing preferences, and the added demographics that can enable advertisers to hyper-target banner ads or full ads, even discerning what type of ad works best within a genre or program. For content producers these same data points provide near real-time input of story and plot development, do you keep that character or kill them off? Having direct access to the metrics is a massive game-changer, and 5G will be a critical component to managing the proliferation of data, access to consumers and the resulting metrics and analytics that you can use to measure minute details of consumer behavior, anywhere in the world. Apps, supported by 5G, will bring OTT to the consumers’ fingertips.
The Struggle around advertising. Television remains a compelling advertising medium because advertisers can easily reach masses of people in very little time, and engage directly with consumers with the integration of social media. Television continues to grow despite the death knell it was given a decade ago, but the advertising dollars are being diluted. Still, advertisers are always looking for the sweet spot, and opportunities to integrate their brands within a program, series, or even service. Don’t be surprised if an ad-supported service on Netflix is launched in the near-future; right now, Roku, YouTube and Sling TV, for example, all have ad-supported or subscription service options. And with app-enhanced ability for broadcasters to have a more direct relationship with a consumer, via more direct technologies, apps, MPVD’s, figuring out how to best monetize those consumer touchpoints will be sure to be the a topic of conversation: Increasing short ads, decreasing ad load by smaller banner ads in lower thirds or paid integrations, what works best? That, along with the tremendous pressure by consumers to unbundle and allow them to purchase stand-alone channels, something that can now easily be achieved with apps and 5G technology, will provide an interesting dilemma for cable and satellite companies: The question becomes is there a way to provide skinny bundles profitably? The answer may lie simply in the consumers desire to reduce the number of bills they must pay every month – the reality of paying for 20+ stand-alone broadcast apps every month may prove to be too much of a hassle for consumers.
So, what about the big hype last year around the convergence of content? Atkin proclaims, “It’s still a major driver in the broadcast space, and BroadView is a major player. As a content management platform, BroadView Software can accelerate a broadcaster’s expansion into OTT, the richer the content, the better off we are; the richer the metadata that people can put into an application at BroadView, the better ability we have to share that with technology that makes the consumer experience better. BroadView plays a key role for being a central depositor for managing that data and being able to let the broadcaster leverage that data however they need to, in whatever platform that is supporting them.” Continuing he says, “If we look at our OnDemand product, the biggest value goes beyond the scheduler, to managing the massive amounts of content, information and metadata that supports transactions through to devices, technologies and into content streams.”
If you want to share your thoughts on any of these topics, of if you want to explore how BroadView’s On Demand Software can improve your broadcast operations, feel free to book an appointment here.
For more information and to read more on CEO Michael Atkin’s thoughts on these topics, please visit: www.broadviewsoftware.com/Blog
You are invited to visit Michael Atkin and the BroadView team at the show, booth N5218