The explosion in digital and mobile device ownership means American consumers are connected with screens throughout the day and engage with media content for more than 70 hours a week. In the old days, video was a VHS we put in our VCR. Now, video is accessed on computers, mobile screens, tablets and, of course, television.
Video has become a buzzword in every trade article and media conversation. For A+E Networks, video is premium content that carries a brand halo for marketers and fans. What is truly buzzworthy, and a benefit to marketers and users, is the proliferation of viewing apps on mobile and OTT in the last 24 months. This has enabled our fans to access content anytime, anyplace and on any device.
Click below to download the A+E Networks Insights Report,Video Everywhere – its Impact, Influence and Evolution.
Consumers own more devices than ever before. When looking at the average American household, PCs with Internet (81%), broadband Internet (78%) and smartphones (75%) are in a majority of homes, with a near majority for digital video recorders and tablets. Even internet-enabled smart TVs have seen major growth.
According to Nielsen data, Americans ages 18 and older spend over 11 hours per day watching television, listening to the radio or using smartphones and other electronic devices. TV remains at the center of consumer media consumption, but a rise in time-shifted viewing and streaming video through a PC or smartphone shows that consumers are increasingly comfortable accessing content whenever and wherever they want. We've entered the age of over-the-top technology (OTT), but the common denominator is video.
Global sales for streaming media players will reach nearly 50 million by 2017, according to data from Parks Associates, and that growth is one factor that's resulted in almost half the video content now watched by U.S. consumers on a TV set being nonlinear; it is already the majority for people aged 18-44. Marketers want access to this audience and advertisers who are quick to adapt and provide premium, long-form, ad-supported content across these devices to consumers will succeed.
The TV Everywhere trend has exploded in recent years, with monthly viewership by cable and network customers on smartphone apps, browsers and game consoles more than doubling between 2013 and 2014. Video-on-demand has also seen a recent resurgence in growth and VOD users watch slightly more television overall than non-VOD users, with the added bonus for advertisers that it can be watched on the main television in most of the country's living rooms.
That there is a shift in TV audiences is undeniable, but digital video is not undermining TV audiences. People aren't spending less time with TV and more time with digital; they are spending roughly the same amount of time with TV and more with media overall. In the end, the differentiator is premium content. The screen is simply the most convenient window through which to view it.
As we look to the future, the race to monetize video continues in a marketplace that is becoming more cluttered by the day. Buying scale versus premium without transparency continues to be a challenge for marketers. Poor formats, questionable distribution and subpar video environments lead to a poor user experience and that's bad for all involved. When it comes to video, premium content on the best available screen in a secure video environment is the trifecta needed to reach and engage consumers.
Find out what's next for marketers in the evolving video marketplace by clicking below to download the A+E Networks Insights Report,Video Everywhere – its Impact, Influence and Evolution.
The opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaVillage.com / MyersBizNet, Inc. management or associated bloggers.