Broadcasters are missing out on untapped content revenue, according to consumer research carried out by consultancy firm Ovum and commissioned by digital content technology specialist Avid.
The study, which looked at consumer television viewing trends and preferences in today’s multi-screen environment, revealed that quality content remains the strongest driver of viewer engagement and that there are growing opportunities for profit in archived content.
Sixty-five per cent of consumers surveyed identified image and audio quality as the key driver of enjoyment, and 37 per cent said they would pay for archived episodes of their favourite shows. However, their willingness to pay is highly dependent not just on their personal preferences, but also on the situational context in which a content offer is being made.
“Producers and content service providers will protect and maximise the value of their media assets when they can dynamically match content with context,” said Adrian Drury, lead analyst, Media and Broadcast, Ovum. “At the heart of this challenge is an effective metadata strategy.”
Broadcasters say they recognise these untapped monetisation opportunities, but are challenged to maximise asset value with their current systems. An earlier Avid and Ovum survey of media executives found that 33 per cent of existing content could be monetised to take advantage of those opportunities, but most of that archived material is currently inaccessible.
“Broadcasters and advertisers are under tremendous pressure to simultaneously grow profits and audience share,” said W. Sean Ford, vice president of Worldwide Marketing and CMO, Avid. “Our latest research with Ovum convincingly argues that media organisations best poised to win will be those capable of implementing an effective strategy that drives monetisation, while incorporating a collaborative, end-to-end production workflow that speeds the development of high-quality content.”
Additional conclusions from the study include:
A multi-platform strategy can drive appointment-based viewing:
Second screens create opportunity in mass media events: