It was only six years ago that the notion of "cutting the cord" to cable boxes started making headlines. Today, we are seeing the phenomenon of "TV everywhere" begin to take shape. According to comScore, 180 million Americans watched more than 33 billion videos in June 2012 alone. As video continues to gain ground in the digital marketing mix, there's one big question on everyone's mind: What is the future of TV and video? According to Innovid, the future is now.
At Innovid's Spotlight presentation at the iMedia Video Summit in Rancho Palos Verdes, Calif., Tal Chalozin, co-founder and CTO of Innovid, and Eric Berger, EVP of digital networks at Sony Pictures Television, outlined the recent changes in the TV and video landscape. They highlighted three major shifts that marketers should be thinking about and the actions that can be taken in response.
New living room
Today, video is everywhere. Chalozin said that recent reports indicate that 56 million apps were downloaded this year, and 50 percent of video viewing now takes place outside the home. Viewers have more choices than ever, and not just when it comes to devices. One-fourth of smart TV users say it is now the only way they watch TV and movies. With the threat of this shift, traditional cable companies started adapting to meet the market demand and offering technology bundles that give customers viewing flexibility. Even though it wasn't long ago that the industry began talking about cutting the cable cord, Chalozin affirms that the landscape is fragmented and more like the fifty shades of television.
TV networks are already facing new competition in the form of the "digital network." These are digital video providers of original programming, rather than aggregators. They include Hulu, Netflix, YouTube, Crackle, and more. The proliferation of connected TV is already posing new challenges to advertisers.
From the marketer's point of view, these shifts represent both challenges and opportunities. Metrics might be the biggest obstacle, as the same piece of content can now be viewed on many digital channels. Responsive design is posing unique challenges as well, even on TV screens. Chalozin emphasized the importance of thinking about what mode your audience is in while watching content. A tablet viewer and a mobile viewer have very different levels of attention and engage in different types of behavior.
Chalozin highlighted the possibilities of interactive video ads across all platforms. Calls-to-action can be applied to content on any device, he noted, thereby leading viewers through an immersive experience.
Chalozin gave the example of the campaign for Disney's "Oz the Great and Powerful." With Innovid's iRoll, the campaign's message was built only once, but it could be disseminated across all platforms (and then tracked by both device and total). For example, the "Oz" ad features video content followed by a call-to-action that could be "rollover to enter Oz," "click to enter Oz," or "tap to enter Oz," depending on the device. Then viewers can scroll through additional content, such as character bios, or click to buy tickets.
Chalozin concluded the presentation by reminding marketers that having the very best creative is essential. "People don't hate ads; they hate bad ads," he said.
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