Published August 27th, 2018
Today’s rapidly evolving streaming video ecosystem continues to change and evolve at a breakneck pace. This has intensified now that the platform and tech giants are part of the competition, investing billions in content. The most significant impact to consumers and creators alike is that we have evolved from a world of limited options to one of almost infinite choice. And with this overwhelming amount of choice, consumers now gravitate not only toward the most resonant content, but also the most engaging experiences.
At the Nordic TV Summit in Copenhagen on September 27th, Ben Keen, Advisor and Analyst, Technology, Media and Telecoms, will offer insights into some if the myths and realities of the OTT business. Insight that will guide and help companies to stay relevant in this dynamic industry and build a competitive advantage. To succeed in the future that’s taking shape, companies must revisit every aspect of what they do and how they do it. They must look identify realities vs myths to go ‘above and beyond’ in how they envision their business, generate revenues, create and organise their capabilities and build and retain trust from the consumer. And given the pace and scale of change under way, speed is vital. Standing still is not an option.
Nordic TV Summit we’ll take a look at the trends, technologies, consumer habits and innovations shaping the internet TV industry in the Nordics and beyond. With a phenomenal speaker line-up, featuring a stellar line-up of C-level speakers from the likes of iflix, TV2 Denmark, Altibox, Viaplay, AMC Networks, Endemol Shine Group, Filmstruck, and many more. Nordic TV Summit is recognized by industry professionals as one of the most important events in the OTT Calendar.
Nordic TV Summit 2018 will inspire, excite, entertain and provide you with the knowledge, inspiration and network to take your business to the next level. You’ll meet industry disruptors, be inspired by the leading minds and thinkers in the industry and gain unique industry insight.
Don’t miss out- Secure your ticket today at www.nordictvsummit.com
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Ad-funded VOD (AVOD) is outpacing other paid media with spend set to double to $47 billion (€41.2bn) by 2023 worldwide, according to WARC’s latest Global Ad Trends report.
More broadly, both consumer and advertiser investment in OTT platforms is rising: globally, spend is projected to reach $129.3 billion in the next five years.
As a medium, AVOD is still young, though notable examples of Hulu, HBO Now, and Sony’s Crackle, as well as reported interest from Amazon, hint at its future power.
Compared to other paid media in WARC’s International Ad Forecast, AVoD is growing faster. The expected $23.8 billion in brand investment that AVoD will receive this year equates to a 5.2 per cent share of global adspend, but spend has increased year-on-year. As a percentage of total OTT spend (estimated by Digital TV Research at $68.7 billion this year – up 29 per cent from 2017), AVoD will account for 34.7 per cent.
“Consumers’ voracious appetite for video content anywhere, on any device, has been propelled by SVoD services such as Netflix. But it is AVoD platforms which present the opportunity for advertisers to marry rich consumer data with pinpoint targeting during engaging content,” says James McDonald, Data Editor, WARC. “This is why AT&T and Amazon are exploring moves into the AVOD sector next year, with the ultimate aim of taking the lion’s share of a market expected to be worth $47 billion by 2023.”
At the strategic level, consumers’ appetite for cross-device streaming is creating an impact. A full 81 per cent of consumers now say it is important that they can watch TV programmes whenever they want.
The wide array of publisher specs, insufficient lead time required to track down all creative assets and a lack of standardised measurement when buying cross-channel audience-based inventory are cited as major concerns by practitioners.
As a result, OTT is not currently front of mind when building media strategies; just a quarter (26 per cent) of US CMOs regard OTT as either very or extremely important to their plans. This despite evidence showing integrated campaigns are 31 per cent more effective at brand building.
Source: Report: AVOD spend to double in next 5 years