To understand better how digital broadcasters are using video in 2021, video player software specialist JW Player surveyed film and TV media companies ranging from independent niche broadcasters to comScore Top 100 media giants. The insights from the survey include their 2021 engagement goals, monetisation strategies, KPIs, how to measure success, and how they’re using online video platforms to achieve success.
According to JW Player, the responses provide valuable insight into market trends across all digital broadcasters. Digital native broadcasters are finding success with new and exciting video strategies that are outlined in a report, Video Industry Insights for Digital Broadcasters: Reach New Audiences on New Screens.
Five key takeaways:
For years, audiences – younger audiences, in particular – have been migrating away from linear TV in favour of streaming services and digital destinations. With greater flexibility and choice for viewers, streaming content is becoming more and more attractive to film & TV broadcasters as a way to complement or even replace traditional content delivery.
Across the JW Player network of broadcasters, there was a 28.6 per cent increase in video consumption since the beginning of 2021, and nearly a 50 per cent increase since 2020. Connected TV consumption, in particular, saw a 27.23 per cent growth this year—indicating that audience appetite for lean-back, immersive video experiences has not waned since the pandemic.
In a recent report conducted by JW Player, 76 per cent of broadcasters say increasing engagement is their top challenge this year. With traditional broadcasters all launching streaming services, and with publishing video content online now as easy as tapping a button on a phone, digital media outlets are facing new and unique competition for consumer attention.
Streaming offers a lower barrier to entry than traditional cable/satellite TV distribution while allowing content owners to reach a global market. There’s less risk in setting up a live channel, but the rewards are potentially greater than with TV because you’re not limited by geographical area. Sports live streaming, in particular, has increased dramatically over the past year.
In 2021, broadcasters can leverage offering flexible consumption models to their viewers to maximise conversion, retention, and revenue. Video consumption dramatically increased in 2020, with consumers turning to streaming services in their living rooms for entertainment, fitness, sports, and learning during the pandemic. Subscription services skyrocketed, as did the potential for ad revenue. Digital-first broadcasters are finding success with a mix of monetisation models—whether through ad-supported video, subscriptions, or hybrid freemium models.
Niche broadcasters are using OTT apps to differentiate themselves from competitors with unique viewer experiences on connected TV platforms. Standalone OTT apps are experiencing exponential growth. JW Player saw a 133 per cent increase in distinct apps active in its network from 2020 to 2021, driving an overall 361 per cent increase in OTT app-based video consumption