Each year at New Video Frontiers, leading members of the video advertising industry meet in London to discuss the latest trends and predictions that are shaping the future of TV. It was clear from this year’s conference that video remains an exciting topic for both media owners and advertisers, as legislation, innovation, and changing consumer behaviour continue to move the dial of success.
SpotX’s head of demand, Graeme Lynch, joined the panel, “Is the European TV Industry Moving Quickly Enough?”, moderated by Nick Thomas, associate director at MTM Research. As native OTT players enter the fold alongside key streaming players, such as Netflix and Amazon, panelists agreed that traditional broadcasters need to innovate in order to sustain their influence.
“The good thing that has changed is that we are no longer discussing the future of TV—we are living it,” said Lynch in his opening remarks. While regulation and complex legacy structures at times hinder fast-paced change, Lynch noted that broadcasters are committed to maintaining the standards which for decades have made them the first choice for mass-reach and brand safe advertising.
Liz Duff, head of media and investment at Total Media, agreed with Lynch’s assessment, adding that advertisers today have more choices than ever before as a result of the innovative strategies undertaken by broadcasters. “We’re not just talking about collaboration across the industry,” Duff commented. “It is happening today with both content initiatives like Britbox and also in data with Channel4 being added to the AdSmart platform.”
With the consumer in mind, panelists agreed that audiences would begin to limit their number of paid subscriptions. This sentiment was echoed in the analyst session led by Vincent Flood, editor-in-chief at Video Ad News, who fielded predictions from participants. Roddy Davidson, media analyst at Shore Capital, suggested that the winner of the streaming wars would be the business that successfully aggregates the numerous SVOD services into one, easy-to-use package.
Panel discussions also explored the evolution of data technology, which has ushered in a new era of audience-driven buying for advertisers. Dave Castell, GM of inventory and partnerships for EMEA at The Trade Desk, noted that with so much data available, advertisers are able to measure and optimise video campaigns in real-time like never before. The key challenge ahead for the industry is to formulate a common currency to measure TV across devices.
In the meantime, broadcasters face the challenge of protecting their brand equity amid a fragmented media landscape. David Fisher, VP of advanced advertising at Discovery, told the audience that broadcasters needed to ensure their content and distribution remain brand safe and well-regulated, affirming the fundamental value of their programming as the work to transform the traditional model kicks into full gear. “There is a lot of paddling under water,” Fisher concluded. “It just hasn’t reached the surface yet.”
You can see SpotX in London and hear more about the evolution of TV advertising at the Future of TV Advertising (December 10-11).
This article was written by Lauren Saving, marketing manager, EMEA at SpotX.