Is Online TV Killing Traditional TV?
We've said it before and will say it again - brand marketers need to pay MEGA attention to SVOD (streaming video on demand) content. Sites like Netflix and Amazon are literally taking over viewership, and are no longer considered to be sub par to traditional cable and network broadcast TV. In fact - brands like Hyundai are signing massive branding deals with Netflix's Marvel.
In this blog post Hollywood Branded shares Drew Burstein's infographic, "The Rise of SVOD, Is Online TV Killing Traditional TV?". And by the way - his company creates something pretty cool for your home TV - we suggest checking it out as well!
The Power Of Streaming On Demand Video TV
Over 50% of consumers state they watch streamed on-demand video. And one reason? They can ad skip. So those commercials brand advertisers are buying are going by the wayside as brands look for better ways to embed within content - and engage consumers - such as Product Placement.
Online TV and video services are forecast to generate $42 billion by the year 2020. Which means the silent creep of streaming video on demand programming is now more like the roar of Niagra Falls. And if award shows set the stage for content that is considered 'great' - then the nod has clearly been given to show after show on both Netflix and Amazon in the past three years as awards have been handed to House of Cards, Orange is the New Black, Transparent, Bosch, Grace & Frankie, Unbreakable Kimmy Schmidt and other critically lauded programming.
“Emmy voters very comfortably eliminated the line between Internet and television and said television is about what’s on the screen -- not what size the screen is or how the content got there,” Netflix chief content officer Ted Sarandos told The Hollywood Reporter. “The shows are drawing TV-sized audiences,” added Sarandos. “It’s great that they are critically and artistically compared to TV at the highest level.”
And with that larger audience playing field - brands are taking notice - like Hyundai who just signed a multi year deal with Marvel and Netflix.
The myriad of cable networks which further fragment audiences, the cord cutters who are trying to save on cable and moving away from cable plans, and the declining viewership to network advertiser-laden television is allowing SVOD to truly be a strong competitor in the television landscape. Traditional TV viewing is going the wayside with millennials - and SVOD appears to be their growing preference.
To provide a little more information on the power of SVOD, take a look at the following infographic:
The Perfect Advertising Partner For SVOD Series: Product Placement
You can't buy ad space in the majority of SVOD content, making Product Placement the only option for brands to harness the power and viewership. Take a look at our blog on why SVOD content should be at the top of brand marketers planning.
Is Product Placement right for your brand? Watch this video to learn more about how this marketing practice works, what brand categories it works for, and the results brand marketers see!