Published October 12th, 2018
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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
Sep 08, 2020
In the first of our IBC On Location series, Martijn van Horssen, joint-CEO and Co-founder of 24i welcomes us to the RAI and our home city of Amsterdam. While all may be quiet on the ground without this year's show, the high demand for entertainment services, puts the streaming media industry in an enviable position of creating, delivering and supporting the flood of exciting new video services that have come to market since last year's show.
Martijn talks about how the bar has been raised to a new level for service providers to deliver truly competitive, premium video experiences and why this shines new importance on the growth of technical collaboration and innovation across the ecosystem. Martijn shares an update on 24i since joining the Amino family a year ago, and reminds us of the importance of staying positive and having fun, even if we cannot do so together in person this year.
Sep 09, 2020
Choosing a name is never easy, whether it is for a child, product or company. In episode 3 of IBC On Location, Kjeld Beijer, Partnerships Manager at 24i, visits our Amsterdam-based subscription technology partner, Cleeng to find out the origins of the company name and what that has to do with the popular Dutch vending snack bar the FEBO!
Talking outside his office on the Herengracht in the majestic heart of Amsterdam's Golden Corner, Luc Bleylevens, Senior Product Director at Cleeng, draws parallels between the district's role in the Dutch golden age of commerce and today's golden age of television.
With people in the US signing up to an average of four streaming video services during the COVID-19 pandemic, service providers are having to rapidly scale, offer new business models, and adopt smarter marketing tactics in order to keep pace with increased demand and competition. They also have to address the thorny issue churn. On this topic, Luc explains how, by using a mix of data and creativity, providers are able to recognize pre-churn indicators and then address them with their subscribers before it's too late.
Building a video app for multiple platforms requires a lot of synergies. In Episode 4 of IBC On Location, Florian Laroye, VP Design at 24i, explains the role of the Design System powering 24i's Smart Apps product.
By synchronizing all the small elements which go into making a next-generation video app, Smart Apps makes it easy for OTT service providers, broadcasters, and operators to deliver one consistent and compelling user experience on any device.
With both white label and customized design options, Florian illustrates the flexibility of the Smart Apps design system and highlights how for customers such as Youfone in the Netherlands, it amongst other benefits, reduces time to market of new streaming video services and functionality.
Finally, Florian reminds us that design is all about emotions and that he looks forward to meeting in person soon!