Like so many other conversations happening right now, the one about streaming TV viewership comes with plenty of “what ifs” and “when’s”. At the point we all went home and shut the door, we also clicked into a universal activity: streaming content. According to Nielsen, streaming’s share of TV time leaped to 23% at the end of March. Now we’re eager to see updated numbers which surely point even harder at the success of streaming TV.
So we have questions… for you. Hopefully, we’ll jump-start some conversations and maybe ignite some innovation.
Q1: Has there ever been a time in our history when people were more or less forced to stay home and entertain themselves? For a long stretch?
This question matters because we need to recognize that there is no game plan to follow right now. This is the equivalent of a boisterous and bold fantasy come true. Imagine a media seller after a late night at the office muttering to her colleague, “If only we could force everyone to stay home and watch this platform for hours on end. Imagine if nobody went to work and they just watched this all day long.” It’s the most ridiculous fantasy and it has come true.
Q2: What will media sellers do with this opportunity?
There’s a lot to consider. First, there’s a lot more competition in the streaming ecosystem today than there was just six months ago. How will this increase in competition affect your pitch to clients? Second, are you keeping up with the changes on all the platforms, and what they mean for advertisers? Is there even a place for advertising on that sexy new platform? What does advertising look like there? Are we still talking about “buys” and “minutes?”
Q3: Who’s going to innovate for advertising on streaming platforms?
Not only are we desperate to see innovation in this area, advertisers and agencies are, too. A study we completed in February shows that 63% of agencies and 28% of advertisers/marketers think innovative ad opportunities should be prioritized to improve streaming TV for advertisers.
Q4: How long will this streaming nirvana continue?
By which we mean, how long is this innovation window going to be open? With the power of millions of viewers, are platforms willing to entertain more risk when it comes to ad execution? Can we use this time to experiment a little, given the security of a captive audience?
We’d like to hear your answers, if you have some to share. Like you right now, we’re spending a lot of time observing the media world and its inhabitants. There’s so much happening and so much to think through. Let’s share thoughts.