ENTERTAINMENT: HOW TO SHINE IN THE SEA OF STREAM

ENTERTAINMENT: HOW TO SHINE IN THE SEA OF STREAM

By a combination of design and circumstance, at-home entertainment has become mainstream. But with over 200 streaming options and endless shows to choose from, “streaming fatigue” and decision overwhelm are rampant. How can advertisers reach consumers ready to stream, but unsure of what to choose? What’s the current state of the industry and how is it going to evolve?

The Pandemic Effect: Streaming is the New Normal

Streaming has long overtaken the cultural zeitgeist, but the pandemic’s at-home orders cemented its permanence and pervasiveness. About 80% of U.S. consumers subscribe to at least one paid streaming video service, and more than 70% have increased their use of paid streaming since the onset of pandemic.  Many now consider streaming costs to be a utility expense on par with gas or electric. It remains to be seen whether or not consumers will flock to movie theaters – once the mainstay for quality entertainment – post-pandemic. PWC predicts they won’t: subscription video on demand revenues are projected to double box office revenues by 2024.

But there’s streaming, then there’s actually choosing what to stream. There are reportedly over 200+ streaming services available in 2021. With so many streaming options to choose from, devices to watch on (television, desktop, laptop, smartphone), and content to sift through – not to mention money to spend on it all – how on earth do consumers decide what to watch next? Streaming fatigue” and decision overwhelm are rampant.

  • There are reportedly over 200+ streaming services available in 2021 (Flixed).
  • About 80% of U.S. consumers now subscribe to at least one paid streaming video service, up from 73% in the pre-COVID-19 survey (and versus 69% in Deloitte’s study last year) (Deloitte).
  • More than 70% of consumers have increased their use of paid streaming since onset of pandemic (TransUnion via TVTechnology)
  • The global streaming market was worth $42.6 billion in 2019. It’s expected to grow more than 20% per year and reach a total of $184.3 billion by 2027 (Grand View Research via Comparitech).
  • Subscription video on demand revenues are projected to double box office revenues by 2024 (PWC Media Outlook)
  • Increasingly, many people regard their digital E&M spending—a Netflix subscription or mobile data allowance—as a utility on a par with water or electricity and therefore a non-discretionary expense. (PWC Media Outlook)
  • The average U.S. consumer currently pays for four different services, up from three pre-COVID-19 (Deloitte).

 

With SO Many Options, How Do Consumers Decide What to Watch?

When it comes to deciding what to watch or even which streaming service to choose, studies show that consumers go to what they know (or trust). Many will turn to a show they are already familiar with (hence why Netflix paid $80 million for Friends), but most rely on recommendations: either from trusted sources of reviews and content or family/friends. Family and friends may help to a point, but don’t cater to unique or niche interests. This means that providing recommendations near topics or content consumers already know and trust will ease decision making and reduce overwhelm. 

To tap into that familiarity that consumers appreciate, advertisers should create content recommendations in a warm, friendly tone. Create informative, trustworthy content to read like reviews, listicles, or personal stories. 

  • The most important attributes for a streaming service, per Nielsen’s survey, are the variety of content available (67%), ease of use (56%) and access to movies (52%).  
  • Netflix users spend on average 18 minutes deciding what to watch (Reelgood and Learndipity Data Insights via IndieWire)
  • 67% said the biggest influence on what they decide to stream is the existence of shows they used to watch on broadcast TV now being available to stream (BGR) .
  • 66% of respondents cite recommendations from family and friends as the main factor for determining what show or video content to consume and 54% cited reviews (e.g. online, blogs, in magazines, on TV, etc.) (Nielson via The Hollywood Reporter).
  • Only 42% of respondents said they let what they see on social media sway their decision of what to stream (Nielson via The Hollywood Reporter).

 

Original Content Matters: How Can Advertisers Reach the Viewers Eager to Find It?

In a sea of streaming choices, consumers want a knowledgeable voice to be a directional guide. They are receptive to targeting and recommendations. They are eager to devour content like reviews, videos, recommendations. 

Reach consumers deciding what to watch next by distributing through digital channels and maximizing contextual targeting and context-driven optimization to serve ads relevant to the page they are already reading. (BTW ditch social media – this was the second-least influential factor according to Nielsen’s survey.)

According to Deloitte, it’s also imperative that entertainment companies continue to build their capabilities to harness customer data to deliver highly relevant or personalized content recommendations and targeted advertising. When a consumer gets a relevant recommendation, and they get value from the interaction, they are more likely to stick around.  To provide a high level of value, a strong integration and a seamless user experience among all the content and services is key.

  • 71% of millennials stated that original content was a primary driving factor in choosing a streaming service (Deloitte).
  • Media and entertainment ad spend grew by 14.5% in 2021 so far (January 2021, Dentsu Aegis Network)
  • 60% of US advertisers planned to shift ad dollars from linear TV to either CTV or OTT in 2021 (IAB via eMarketer, November 2020 poll)

 

Ads Mid-Stream: A Nuisance or a Way to Decrease Streaming Costs?

Two contrasting predictions emerged in research: one is that ad-free streaming will increase as consumers’ expectations for on-demand ad-free content (that Netflix popularized) increases; two is that the number of distinct streaming services is becoming excessive and expensive and consumers would prefer ads if it meant free streaming. 

In the entertainment vertical – as in across all verticals – the abundance of choice has swung the pendulum from an advertiser-led mass distribution model to a consumer-driven, choice and targeted model. 

“[I]t is likely that the mass personalisation of content experiences at relatively low cost and the resulting explosive growth in choice have altered the balance, perhaps permanently, between consumer spending and advertising. Companies find they can deliver immense choice at a price point that makes sense for both supplier and customer, while building powerful direct relationships—all without relying excessively on fickle or intrusive ads. E&M companies are increasingly in the business of delivering experiences and content directly to consumers, not delivering audiences and eyeballs to advertisers.” (PWC Media Outlook)

  • 44% of consumers cite an ad-free experience as being a top reason for using streaming services (Deloitte via Comparitech).
  • The leading cause of frustration with TV advertising among streaming subscribers is having to watch the same commercial repeatedly (cited by 46 percent of respondents) (The Trade Desk via MarTechSeries)
  • Ads make up a whopping 20 minutes out of every hour of TV. 75% of viewers think this is massive overkill and 82% express frustration with having to see the same ads time and again (Deloitte via Comparitech).
  • 40% of respondents are only willing to spend up to $20 per month on video streaming services (PCMag 2019 Survey via Deloitte)
  • 65% of respondents say they’re comfortable watching ads to eliminate or reduce subscription costs (Deloitte).
  • 47% of American consumers are watching at least one free ad-supported streaming video service, such as Pluto TV, Tubi, and the Roku Channel (18% growth since the pandemic began) (Deloitte).
  • Free ad-supported video appeals to thrifty baby boomers and matures, who prefer free streaming options by 58% and 65%, respectively, over subscription-based options.(Deloitte)
  • 84% of users rank cost as either extremely or very important when selecting a streaming service. (Nielsen Total Audience Report)

 

Strategy Takeaways:

  1. Recommendations are valuable to consumers
  2. Reach consumers at their moment of intent to research and find a new viewing experience through contextual targeting and context-driven optimization capabilities 
  3. Utilize customer data to offer personalized recommendations

 

The Bidtellect Advantage:

  • Utilize contextual targeting and context-drive optimization to meet consumers at the moment of research and intent to watch
  • Reach users currently streaming at 9 of the top streaming platforms, as well as 165+ TV audiences categorized by program, network, film genre, viewer type, and more thanks to Bidtellect’s partnership with Lotame.
  • Each content advertisement is rendered in real-time to match the format and feel of the unique ad placement on the page, ensuring trust is built with the consumer.
  • Advanced bidding platform will optimize to best-performing creative assets thanks to optimization capabilities or our detail-oriented platform specialists will adjust creative assets manually based on performance and expertise.
  • Unique [b]+studio creative services offers expert copywriting and creative asset creation and/or expert strategic counsel dependent on needs to meet evolving standards of quality content assets.
Texas Weather Crisis, Holiday 2020 Review, trust.txt, and more. This Week’s Newsletter: February 18th, 2021

Texas Weather Crisis, Holiday 2020 Review, trust.txt, and more. This Week’s Newsletter: February 18th, 2021

Hello Bidtellectuals!

This week’s Bidtellectual of the Week goes to all our Bidtellectuals (and partners!) weathering the crisis in Texas right now. We are thinking of you.

Weathering the Texas Storm

Government officials are calling the Texas weather disaster “a Katrina-scale crisis” and an “absolutely awful nightmare.” Many lost electricity, running water and cooking gas, and at least 31 deaths have been reported since the crisis began. Thankfully, power is now being restored across the state. In Austin, the local power company said nearly 97% of its customers had power this morning. Not to mention, the storm’s damage to the rest of the area – houses, cars and farms seem of such little convenience compared to the loss of life that has been suffered. Still, there is help all around. From getting in contact with contractors like those found at this site – https://texasdamageconsultants.com to fix any damage houses may have suffered, and of course crisis teams are helping with supplying necessities like food and health supplies as well. To our partners and clients, we are here for you. Don’t hesitate to reach out to us.

Global Debt Reaches All Time High

Yikes. The wold’s global debt rose to an all-time high of $281 trillion by the end of 2020, or more than 355% of global GDP, according to the Institute of International Finance. Governments, companies and households raised trillions to offset the pandemic’s economic toll last year, and the hole is expected to deepen in 2021.

Holiday 2020 Review & ASOS Enters Programmatic

  • eMarketer released the Holiday 2020 review and the numbers are GOOD!! Total retail spending was up 6.5% to $1.064 trillion. Cyber Monday was the heaviest online spending day in history, rising 15.6% to $10.78 billion. Overall, the holiday season performed better than expectations.
  • ASOS’s new programmatic ad business may indicate a trend for retailers: build your own – especially as online ordering has boomed in 2020. “There will be a big trend of retail websites monetizing their users and media space more directly, as third-party cookies will prevent a lot of existing measurement from working, meaning planning will be more about the context of where you place an ad rather than following individual users across the web,” said John Barham, managing director of digital agency Roast.

trust.txt – The New Safety Guard?

Everyone – especially ad folks – is trying to restore trust in the news business as fears of misinformation and negative content are rampant. The latest answer is trust.txt: a machine-readable text file that news publishers add to their websites. The purpose of trust.txt is to distinguish legitimate news organizations from non-legitimate ones, in a way that’s optimized for a for automated processes like programmatic advertising and web crawling. Of course, like anything, it needs to scale and be adopted by a wide community for it to be worthwhile. Its success – or concept – remains uncertain.

Just Global Dick Reed Awards

Congratulations to the winners of Just Global’s second annual Dick Reed Awards!

Bidtellect was proud to be named a finalist for the Most Collaborative Partnership, and Sales Directors Jonno Burden and Lane Johnson were each nominated as finalists for Salesperson of the Year!

ICYMI: On 2020: A Reflection

2020 is over, right? At least it says so on the calendar. Read CEO Lon Otremba’s thoughtful reflection on 2020: its challenges, triumphs, and lessons – and what it could mean for 2021.

Read it here: Bidtellect’s 2020: What We Did & What We Learned

Case Study of the Week: Tax Solution Provider Beats CPA Goal By 76%

A leading tax preparation solution provider wanted to reach consumers and measure the direct action of those that started the tax filing process, but struggled with name recognition and tight budget. Read how Bidtellect overcame the challenges.

Stay safe,
Charlotte

Valentine’s Day, 2020 Reflection, Contextual Targeting. This Week’s Newsletter: February 12th, 2021

Valentine’s Day, 2020 Reflection, Contextual Targeting. This Week’s Newsletter: February 12th, 2021

Hello Bidtellectuals!

Congratulations to Bidtellectual of the Week Heba Abdelaleem!

Happy Valentine’s Day! 

Hey little love bugs! Any big plans this weekend? Check out this great list of streaming recommendations. My favs are My Big Fat Greek Wedding and Cruel Intentions (duh), but I’m dying to check out Always Be My Maybe. These recs for virtual Valentine’s Day dates are also amazing. A virtual tour of Romeo & Juliet’s hometown? Yes please (it’s your very own Love Story). I bet you’re wondering how Hallmark is adjusting their cards this year. The answer is toilet paper (really).

For last minute campaign adjustments, consider contextual targeting to reach last minute shoppers looking for inspiration and commit to a multichannel approach. Download our onesheet or watch our video for more data and insights.

Download here: 6 Steps to Success for Valentine’s Day 2021

On 2020: A Reflection

Bidtellect CEO Lon Otremba penned a thoughtful reflection on 2020: its challenges, triumphs, and lessons – and what it could mean for 2021. Bidtellect had its share of hardships, and there’s no way we can predict what 2021 can bring, but the year ahead is already tasting sweeter.

 

Read it here: Bidtellect’s 2020: What We Did & What We Learned

The Latest: Contextual Targeting, Online Gaming, In-House vs. New Agencies

  • Contextual targeting dates back more than a decade, but it’s having its renaissance (star moment?) as the cookie-free world comes closer to reality. Read The Crawl, Walk, Run Guide To Contextual Targeting on Adexchanger.
  • Publicis is launching a new cross-agency Le Truc office in New York and bringing in top executive talent from Droga5 and Ogily to lead creative operations. 
  • We’ve seen an uptick in shifting to an in-house model. For success, customization and collaboration are key (there’s no “one size fits all”). Here are the The Six Pillars Of A Successful In-House Model
  • The next bright shiny object for agencies and marketers? Online gaming.  It’s about time. Brands are finally eager to break into platforms like Twitch and into virtual, in-game universes in games like Fortnite.
  • ICYMI: Bid shading Bid shading is a campaign capability that can save advertisers money. Here’s what it means and how it works.

Case Study of the Week: Major Regional Grocer Exceeds Video Goals Thanks to Contextual Targeting

Even with a tight regional footprint and targeting limitations, Bidtellect surpassed Native Display CTR and Video VCR goals thanks to Pause Out of View Video and 3rd Party Contextual Targeting capabilities. Read more about it here.

Gamestop, Bid Shading, and Raising Money for Bartenders. This Week in Digital Advertising: February 5th, 2021

Gamestop, Bid Shading, and Raising Money for Bartenders. This Week in Digital Advertising: February 5th, 2021

Hello Bidtellectuals!

Congratulations to Bidtellectual of the Week Mitchell Bonkowski!

 

If Gamestop Taught Us Anything, It’s that Sharing is Caring

The Gamestop stock-buying craze has made one thing clear: people love sharing informational content and acting on what they’ve learned. Now’s the time for the finance vertical to up its meaningful content efforts. Create content to (re)educate consumers and build trust, then maximize contextual tools to reach consumers at their moment of research or purchase intent. Director of Sales Jonno Burden weighs in on next steps for the industry.

Read more here: GAMESTOP WHAT? Time to Educate and Win Customers

Superbowl Ad Breakdown: The COVID Effect

You may have heard the term floating around lately, or even read this WTF piece on Digiday. Simply put, Bid Shading allows advertisers to save money on an ad placement that’s valuable to them and their goals. Bidtellect’s VP of Product breaks down the process in the first video of our new Behind the Platform series. You can also read more about it here

The Latest

  • Jeff Bezos is stepping down as CEO of Amazon—the trillion-dollar ecommerce and cloud computing behemoth he started 27 years ago that made him one of the world’s richest humans. Bezos will transition to executive chair while Andy Jassy will take over as CEO. Jassy grew Amazon’s cloud segment Amazon Web Services from its inception into a $45 billion business and the company’s biggest moneymaker
  • Magnite has acquired video supply-side platform SpotX from European entertainment network RTL Group for $1.17 billion. According to Magnite CEO Michael Barrett, the company’s vision is to build a highly scaled independent programmatic CTV and video ad platform.
  • The Superbowl is the Sunday. 186.6 million people are expected to tune in this year. What to expect: advertisers are more cautious, somber ads are out, and many new brands who thrived during the pandemic are making their debut.
  • Read a rundown of Superbowl advertisers here and COVID’s effect. 

Good News: Bartenders Get Some Celebrity Love

Say cheers! The alcohol brands of Ryan Reynolds, Sean “Diddy” Combs, and David Beckham have joined together to donate $1 million towards organizations that benefit bartenders in lockdown. You can watch the hilarious video here.

Stay safe,
Charlotte

 

GAMESTOP WHAT? Time to Educate and Win Customers

GAMESTOP WHAT? Time to Educate and Win Customers

At a time when finance is on everyone’s mind, the industry would do well to step up its efforts to reach consumers with thoughtful educational content and contextual targeting to rebuild trust.

The markets this past week have captured the public imagination. GameStop was not on my personal radar, but after speaking to a couple of pals who were very willing to make a bet thanks to forums, I find myself once again kicking myself for not being as plugged into the open discussions boards that created this unique situation. How long this will go on remains to be seen.

One thing hasn’t changed, however: the finance space is a complicated one for newcomers. From a customer standpoint, deciphering products mentioned by colleagues and friends over Zoom hangouts or across Twitter feeds can be daunting. Education and simplification of knowledge is key, particularly when introducing new customers to the space. There are plenty of educational resources available on the Internet for investment geeks in almost all sectors of finance. It does however take a bit of research, and finding good sources of information like this Qtrade review can give them a fair understanding of market trends, and thus a more complete idea about future areas of investments. That said, this information also needs to be simplified, so that the vast majority of people who are newly stepping into the space of finance can begin their investments with a clearer understanding.

As we move towards a “cookieless” 2021, advertisers are increasingly realizing the importance of content and contextual relevance to capture users’ attention at important moments of intent. This moment of intent could be: considering reading an article about how to prepare a great meal at home for dinner that night, researching razors that cost a dollar, or choosing a new makeup thanks to an influencer’s guidance. Delivering relevant, informative content to win new customers works.

Financial institutions are still catching up to this concept. This has been proven again this past week: readers made quick decisions based on information with intent. Instead of being shared by financial institutions, informative content was shared by fellow users amongst each other, offering the advice that they should purchase GME, AMC stock, or Dogecoin (as in Woof, Woof) to make some fast bucks. Dogecoin has gained a lot of momentum of late and has thus, become one of the most noted digital currencies along with Bitcoin and Ethereum in recent times. This hullabaloo over cryptocurrency and its rage has many wondering about how to invest in cryptocurrency through various websites. Crypto has in fact, spread its fanbase to various aspects of the trading and investing sector. Virtual currencies such as Dogecoin can now not only prove to be useful on trading platforms, but on casino websites as well. It must also be noted that, dogecoin is making it’s way to casinos because of its ease of use and transactional capabilities.

We find ourselves at a turning point: the intersection between accessible financial products and increased mass-market retail consumers is at an all-time high. The line between the everyday curious trader and boutique hedge fund advisors is blurring.

Now that we have everyone’s attention, it’s a unique moment of awareness in the wider public consciousness. Financial institutions are in a position to play some of their best hands. Some can act immediately to inform users of their focus around sustainable investment (like Bank of the West), share unique tidbits on how to safely withdraw funds from retirement products, and offer advice for managing 401Ks and budgets during times of uncertainty.

Storytelling can simplify complicated concepts like ETFs, market trading, company valuations, and even cryptocurrency. With proper explanation, consumers can find the most attractive option that suits personal or family financial goals. Sure, this kind of information is not for everyone, but capturing users when they are already in that mindset makes sense.

It’s time for finance brands to go hell for leather to capture the attention of the most captive audience in recent history to begin building long standing relationships and rebuilding trust. Deliver stories as a trusted advisor providing knowledge. Distribute articles that are relevant to market conditions. These guarantee a higher likelihood of trust and ultimately conversion of new clients.

Informative content coupled with context is the solution.