Publishers are beginning to think and act as video producers, according to a new report from Ooyala entitled, “State of the Media Industry 2016,” states that. This is not only traditional media publishers but also new players in digital media. The study confirms that data-driven video content is becoming the cornerstone of many digital marketing campaigns, and for the consumer, the content that provides the most ROI will be that which personalizes the story. Let’s look at some highlights of the report: 12 Week Mastery Review
The State of Video and Traditional Media: 2016
#1 Millennials Consume News through Social Media: Millennials take their news through a mix of digital publications and social media feeds, while Baby Boomers still comprise 2/3 of newspaper audiences. They are news junkies who prefer both visual content and up-to-the-minute, shareable video that one-dimensional print publications can not offer. Media giant Meredith has recognized this, for digital magazine of video targeting Millennial women, currently partnering with Unconventional Studios to produce lifestyle videos. And to a digital-only future The Independent recently became the first national newspaper of U.K. to move.
#2 Mobile Comes First: Recent comScore data illustrates that last year desktop internet use may have peaked, and is in a steady decline in favor of mobile in particularly, on video savvy social platforms. That is the reason for many media companies are launching mobile-first content to stay abreast of consumer wants and ahead of the competition, such as for the Go90 video service Hearst’s joint content deal with Verizon.
#3 Generation Next: A whole new ballgame is for serving the under-21 Gen Z. And content consumption habits of a whole new ballgame are different from Millennials in notable ways. They would like to be a part of the content creation experience, moreover, just absorbing it, and they are even more socially and tech-savvy than their predecessors. Besides, because they already spend more time on tablets and smartphones than Millennials, for their mobile devices, finding publishers to prioritize personalization of not only short-form but also long-form video.
4# Partnerships Reach More Consumers: 79 percent of the digital leaders polled are planning to invest more in online video than they did in 2015, according to a 2016 Reuters Institute Digital Leaders survey revealed. Publishers are turning to partnerships and acquisitions to fill voids in distribution, content, financing, and audience growth. For instance, in the last year, NBCUniversal has invested in not only BuzzFeed but also Vox.
#5 Data is Driving Change: Today, a fundamental component of any digital business is data. In a world of constant disruption, without it and systems to analyze it, media companies are flying blind. To fully understand, how audiences engage with their ads and content are being looked by publishers.
#6 Virtual is the New Reality1: Given that key virtual reality (VR) categories include gaming, travel and news, it is no surprise that publishers like National Geographic are embracing the format for their audiences. USA Today’s newly-announced VRtually There channel is billed as the first branded VR news channel.
#7 Personalization is the Present: The media industry has been moving away from the traditional approach of helping viewers look for content via recommendations through a manually-fixed playlist. Smart discovery engines today make one-to-one recommendations, offering up videos that a viewer is likely to enjoy based on what other viewers with similar consumption patterns watched.
#8 Short-Form Leads: Snackable, mobile-friendly content is growing in popularity among media companies looking to increase engagement and revenue. Ooyala recently took a look at the most popular digital videos of 2015 across its publisher network and found that the videos tracked for the research were under 5 minutes in length reaches 95 percent, with the sweet spot being about 2.5 minutes.
#9 Long-Form Grows: Also long-form is rising; today audiences are becoming more used to viewing it on mobile devices as screen sizes have increased, and as connected TV (CTV) usage has boosted in the home, long-form content can be a prime point of brand differentiation for publishers, as well as an efficient use of production resource as companies can design short-form clips from one piece of longer content for a variety of purposes and platforms. For instance, Time, Inc. just announced the People / Entertainment Weekly Network, an ad-supported over-the-top (OTT) video channel serving up long-form content consistent with the two publishing brands.
#10 Live Takes Off: It has no secret that Live streaming is booming globally as on audiences preferred devices, they demand more real-time connections to their favorite content. That is particularly true in media categories like news and sports where content has far more value delivered live than through on-demand replays. BuzzFeed counted 800,000 concurrent Facebook viewers tuning in to watch a 45 minutes live feed on how many rubber bands it takes to explode a watermelon.
#11 Ad Avoidance on the Increase: The digital ad market is growing and will soon surpass TV, while a growing problem looms: In force, digital audiences have turned to ad blocking. Millennials and the industry itself in some ways have increased into a huge global challenge driven, which has permitted irrelevant ad experiences, cluttered, privacy issues and poor-quality ad environments to grow at the expense of the viewer. More than 60 percent of online video viewers would be more agreeable to advertising when they could control the ads they see, and to personalized ads, more than 40 percent responded favorably, according to a current Millward Brown study noted. Approximately 50 percent of mobile users dislike ads in video content in the same study illustrated.
#12 Programmatic Matures: As they most resemble traditional direct video ad sales, help drive favorable ad yields, and satisfy buyer demands; popular programmatic tactics for premium inventory have been become by private programmatic marketplaces (PMPs) and automated guaranteed trading ways. They also offer more control over trading partners, inventory, and rates. Although for publishers globally, fraud and viewability are till big problems, increases in premium video inventory and better metrics are slowly lending a hand to allay these concerns.
In 2016, we can see video firmly at the forefront of consumer consumption, whatever the device, whatever the platform. New players in digital media and traditional media publishers need to deliver video content to the audience on the terms of audience.