It’s Official; Subscription Fatigue is Here!
The secret sauce for content monetization in 2021.
What’s new in 2021?
With more streaming video services than ever before, people are finding it increasingly difficult to manage subscriptions, find the entertainment they’re looking for, and balance costs against their tolerance for advertising.
As users look for niche content and trending entertainment, people are showing strong interest in ad-supported options that lower or even remove subscription costs. This is why ad-funded streaming TV platforms are becoming more attractive for consumers in 2021.
80 percent of customers say they won’t pay more than $30 per month, and 51 percent say they won’t pay more than $20 per month. More than half of TV viewers say they wouldn’t mind lowering their subscription cost on a paid streaming platform by seeing ads every other episode while watching a show, and 40 percent said they would prefer ads that are tailored to their specific interests.
This shows that content creators and broadcasters have to be smart with ad-based video-on-demand (AVOD), as there is a huge opportunity here.
How are brands embracing advertising on Connected TVs?
60 percent of CTV buyers said they are shifting budgets to programmatic in an effort to improve agility and efficiency. The good news is that data-driven solutions also support better measurement capabilities.
Advertisers are recognizing that CTV changes the way audiences are being targeted. With linear TV, broadcasters put emphasis on content in the hope that their target audience would tune in. But with CTV, like all digital advertising channels, audiences can be targeted with much more certainty that they are watching. Such an audience-first strategy delivers more precise measurable outcomes. TV media buyers ranked the ability to target consumers 1:1 (27 percent), advanced measurement and analytics (25 percent), and delivering to hard-to-reach audiences such as young consumers and cord-cutters (25 percent) among the top benefits of connected TV advertising.
“You have already made the biggest investment, which is content creation. Now you need to be on every screen! CTV is where consumers are migrating to,” commented Gio Punzo, CEO of Streann Media.
Streann Media is the world’s most innovative and interactive OTT streaming platform. With Streann, content providers can create the next Netflix or Spotify, with more than 150 proprietary features for market-first delivery, engagement and monetization technologies. Established in 2014 in Miami, Florida, the company has won multiple industry awards for its easy-to-use, all-in-one solution and has been deployed in 141 countries. For more information, visit www.streann.com.
