We recently partnered with Broadcasting & Cable and TV Technology to sponsor a new research paper called “Survive and Thrive: The Changing Environment for Content and Video Providers.” For this paper, the survey targeted technology managers who are responsible for the implementation of video distribution services. Participants were asked to rank the importance of ten of their most pressing business challenges. Discoverability topped the survey as the number one challenge, with 71 percent of participants rating it higher than maximizing lifetime value or controlling operational costs. With over 200 premium video services in the market, it’s becoming increasingly difficult for brands to get noticed; but consumers have to find the front door before any other performance metric matters.
The attached infographic illuminates some more findings from the research:
So, where are content and video providers placing their focus?
Personalized Experiences
The subscriber-based service model clearly works, but what’s the secret ingredient that keeps members paying – and actively using – a service? The answer is probably unique to each provider’s audience, but the end result is the same: a media experience that learns how to remain relevant to paying customers by showcasing the right content, using member insights to guide decisions, and delivering trusted, high-quality viewing.
Cost-Effective Technology
Multi-platform video delivery is complicated and expensive. It behooves companies to quickly capitalize on partnerships and efficiencies that can free up resources for content creation and curation. The results of this survey might indicate that the promise of the cloud is still viewed with caution, but with rising content costs and more direct-to-customer offerings on the horizon, time to market is a critical success factor that cloud solutions can greatly improve.
“Hybridized” Monetization
It’s increasingly common to see an ad when watching something that’s part of a subscription that you’ve already paid for. Providers are getting smarter about how to organize and monetize their experiences, not just to maximize the value of each asset, but also to make purchase decisions easier. Tiered memberships, targeted incentives, and promotions that incentivize new viewers are all part of a mature monetization strategy.
Want to know more? Download the research paper, “Survive and Thrive: The Changing Environment for Content and Video Providers,” here.
