The past few years have seen rapid developments in TV land. Start-ups have failed, flourished and consolidated; new technologies have led to new behaviors and novel buzzwords are thrown around quicker than we skip through commercials. With all of the new gadgetry and capability however, there remains a plethora of pain points rippling through traditional entertainment/broadcast organizations.
These issues, however, are also the largest conduits to what will be immense growth led by a new breed of start-ups. Social TV, connected TV and multiscreen platforms and services have seen some viable adoption, but nothing compared to what we will see as the massive industry continues to evolve with limited deliverable solutions to the pain points yet seen. If we look into three of these most problematic issues we can gain a better perspective as to where innovation will occur, and where investment should be explored.
No matter how interesting or engaging specific TV/video programming and content may be, viewers have a huge number of options that never before existed. Outside of increasing amounts of traditional channels exist a wealth of on-demand content, over the top content and more digital video than one could imagine. With thousands of calls to action for what to watch or for how long, broadcasters, publishers and advertisers deal with far less retention, engagement and attraction based on this fragmentation.
Discovery and personalization. Discovery of programming and content is a need for audiences that also solves the industry marketing crises. While choice is good, overabundance of content without a navigation route must change for audiences. With innovations in personalization we will see highly engaged consumers, who yield the industry with highly engaging data and are more receptive to stay engaged with specific content.
First Responder: IRIS.TV
is a novel innovator that helps make digital video more accessible and profitable to both consumers and publishers. Through dynamic recommendations based on individual personal consumption habits, IRIS.TV brings together a linear viewing experience and video personalization, which is exactly what the industry needs to help consumers navigate a veritable jungle of content, choice and attention.
While watching TV programming, viewers have a slew of elements they could be engaged with in their digital galaxies outside of whatever screen they are viewing within. Are viewers 100 percent focused on a certain program, or is 50 percent attention share going to other digital endeavors? Are they only 20 percent focused on programming while their attention is going to online shopping? Facebook? Words with Friends? In most cases without proper usage, the multiscreen landscape for all of its potential drives user focus away from television content.
Engagement innovations that focus on how to take viewers down a path that is exciting and novel. These experiences will drive audiences to engage across devices endemically. How does the industry engineer new experiences that are the modern equivalent of the transition from black and white to color? Multiscreen engagements, transmedia and digital gamification will all be utilized to capture attention and divert it back.
First Responder? iPowow
. This company originally out of Australia, has been showcasing amazing ways to create interactivity, gamification and intensive participation across TV and digital with audiences worldwide working with organizations like ESPN, Fox Sports, Red Bull, A&E and USA Network. They are showing the industry how to draw attention back to the story and recapture shifting attention spans.
This is not new, but as increased choice, enhanced skipping technologies and OTT content increases, audiences have the freedom to watch any time they would like. This isn’t necessarily a bad thing for content, but it does negatively impact the advertising aspect. Without a call to action on specific timing, advertising content is less valuable, targeted and time sensitive. Ad content that strikes less attention and is avoidable also offers less real time chatter via social sharing and far less data yielded about audiences than live TV. This factored in with less engagement, as seen in the above section, deals a crippling blow to the ad industry.
Advertising innovations- What these may look like is up for grabs on a few fronts, but it’s clear that the traditional 30-second spot is and has been in severe danger. Innovators are needed who can set forth to create novel formats for brand conversations that captivate, are highly personalized, laser targeted and multiscreen.
First Responder: Ad Tonik
. Ad Tonik is helping to facilitate an interchange between smart devices and Television. By targeting ad spots to mobile users based on the shows they watch endemically, this startup has the potential to aid brands and agencies in better optimizing ad spends and making brand messages relevant in a multiscreen world.
Where else will the chips fall? Let us know.