Technology isn’t the only thing impacting the Television Industry, consumer voices are having a greater impact now with the help of social media and content developers creating an emotional bond to the storyline or characters. From campaigning for a show to be saved to petitioning to have a season rewritten entirely, consumers are finding a way to have their voices heard.
The days of only being able to access a limited number of channels are far behind us so how do companies gain new viewers and retain them in a market of almost endless options?
Here are some areas to focus on:
1. Analyze your audience
Is your audience watching newer original content or shows/movies they have seen before? Do they want to watch shows with optional storylines or maybe they are looking for more OTT options? All of these things are important to know about your audience when deciding how to retain them or when trying to expand your customer base.
2. Consumers + TV Innovations
Even though advances in technology aren’t the only thing persuading viewers on which platforms to watch their favorite shows, they definitely have a significant impact and it’s better to stay ahead of the race then be caught off guard. According to the 2019 Consumer OTT report, OTT usage is 65% for viewers ages 18–34. As Gen Z viewers begin to enter the market, these numbers are only expected to rise.
The report also states the average OTT customer owns three devices they can use to watch OTT content and subscribe to three different OTT services. So the idea of too many OTT platforms does not seem to be an issue yet but is definitely an area of concern, especially with Disney+ launching later this year.
For the 3rd point to evaluate and more information about our World Television Summit, click here.
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