As we approach MIPTV once again, I was reminded that content markets such as MIPCOM, ATF, BCM, NATPE and others serve a critical function, allowing exhibitors and buyers to network and explore new opportunities that may lead to business transactions. For many years, it was a relatively predictable business. Shows were developed and licenced to a network, then marketed internationally or packaged in output deals. Now, new digital platforms, on-demand viewing and thousands of viewer choices anywhere, anytime, have changed the narrative. The separation between traditional and new digital media no longer exists. But this is still a hit-driven business – even technology cannot change that.
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Interested in: Top trends that will shape the Asia-Pacific pay-TV landscape in 2017
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Historically, TV has adapted and thrived in the wake of new technology. The remote control, the VCR, DVDs and the explosion of cable channels were all tech-driven advancements that actually opened vast new opportunities.
Technology impact is non-negotiable, and broadcasters must reach viewers even as they migrate away from traditional viewing platforms. The challenges are steep and traditional business models steeped in legacy have no place in today’s digital ecosystem. We must be nimble, stay informed and reinvent old assumptions, because technology will keep disrupting even as it creates amazing new possibilities.
This digital tsunami has demolished barriers to enter for video producers and distributors, and last year the walls between linear and digital programmes finally collapsed. Viewers are changing the way they watch, and in this golden age of quality drama and comedy, on-demand binge viewing has actually saved marginal shows that networks otherwise would have cancelled. This previously unmeasured viewing that is now being counted provides massive incremental bumps in ratings.
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You must know: Asian production set to enter new cycle of growth
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Online video companies seek new ways to package original productions as quality programming real estate for advertisers. Advertisers and creators are just beginning to realise the potential of social networks and second screen engagement, which will provide important new source of revenue.
Online channels are attracting top writers and producers who create award-winning dramas and comedies. Though not advertiser supported, Netflix has proven that beautifully produced, award-worthy programming is no longer limited to broadcast and cable networks.
Soon, new original productions from Amazon, Apple, Hulu, Xbox, Google and YouTube will join Netflix’s original shows – all available online and on-demand.
How broadcasters quantify and monetise cross-platform content viewership and engagement?New rating systems are on the way and I’ve encounter some new measuring devices online strictly tailored for cross-platform. Eventually, new rating system will measure this traffic and micromeasure how consumers respond and purchase, encouraging marketers to re-examine how they reach consumer across every viewing device. What also needs to be monitored is how showrunners shape their content to exploit second-screen interaction. While these negotiations play out, new television delivery systems are becoming viable over-the-top viewing options for consumers.