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The media and entertainment industry has experienced many changes over the past few years. The streaming wars began during the coronavirus pandemic in 2020, a year after Disney+ launched in Asia.
The 2023 SAG-AFTRA strike forced major studios (theatrical and streaming alike) into long-term shutdowns afterward, as the world watched Netflix lose subscribers after tightening password sharing last year. It was.
As we head into 2024, the streaming industry will continue to evolve, creating new challenges and opportunities for marketers and advertisers. In fact, according to Deloitte, the streaming model is likely to shift from subscriber growth to profitability.
Media and entertainment companies offering streaming video services are considering charging extra for premium content, reintroducing contracts and delivering more advertising to viewers, Deloitte continued. Whether a consumer wants to see an ad or not, it only means one thing to marketers and advertisers: He is. That is to improve advertising value.
MARKETING-INTERACTIVE spoke to five industry leaders to find out what marketers can expect from the streaming industry in 2024 and get their advice on OTT advertising.
Don Anderson, CEO of Kadadol
The streaming industry is currently adopting new business models, primarily around ad-supported services, Anderson said.
He added that the fundamental change in the industry is the economics of platforms and the shift in consumer behavior towards digital content consumption.
Citing Netflix’s introduction of Netflix Games, Anderson said 2024 will see experimentation with content formats within the streaming service’s user interface. For the uninitiated, Netflix Games is currently a free extension of the popular streaming service that allows users to download and play games on their mobile devices using their Netflix account.
Anderson also expects to see the emergence of free, ad-supported streaming TV, known as FAST, which he said has become “the most talked about category” of streaming TV services.
Kaddadle’s CEO said marketers can expect to see more FAST channels launched in local APAC markets through 2024 as US and European services expand their international reach.
This is the “new TV” and will be as much, if not more, part of your marketing plan than traditional cable TV.
To stay ahead of the curve, marketers can start educating themselves and learning the language now, as well as filtering data to determine whether brands should consider leveraging these spaces for consumer campaigns and You need to decide when to consider it.
Basil Chua, Managing Partner, Multiverse Partners
Chua said that in 2024, a combination of different business models, such as subscription-funded models, advertising-funded models and even hybrid models, will be explored to remain competitive in the industry. I did.
Over the past few months, many subscription-only players have been experimenting and moving to hybrid models, Chua added. This comes at a time when major companies in the sector are grappling with rising costs in content production and marketing.
Two new trends that marketers can look forward to are transparency in advertising and the use of social media. As advertising budgets for video streaming platforms increase, so too does the demand for greater transparency, Chua said.
This may take the form of disclosures regarding our subscriber base, program viewership, viewer profiles, and measurable insights into campaign effectiveness.
“This demand is driving streaming services to provide more disclosure about data and insights, which will allow advertisers to more accurately measure return on investment (ROI).” Chua says Mr.
“Unlike linear TV, there is no independent body that measures and verifies these disclosures.”
In addition, social media has long been recognized as an important complement to content marketing and community engagement, Chua added.
Sophisticated advertisers want to see what fans of a particular show or their favorite celebrities are saying on social media and find ways to increase engagement and further build their brand.
Mr. Chua is focused on negotiating platforms that provide marketers and advertisers with data and insights about their subscriber base and audience demographics, and using social platforms to drive conversation and engagement beyond simply advertising on streaming services. My advice is to go beyond that.
Carefully evaluate the programs and content genres in which your ads will appear.
Mr Chua added that unlike linear TV advertising, which is regulated in most countries, advertisers need to consider a variety of innovative ad formats to increase the effectiveness of their campaigns.
Laura Quigley, Senior Vice President, Integral Ad Science APAC
In 2024, Quigley expects a feast of diverse local content tailored to regional tastes, with short-form experiences and interactive features to keep viewers engaged.
Quigley added that consolidation among players and direct-to-consumer models by studios will increase competition and increase demand for top talent.
On the technology side, Integral Ad Science’s senior vice president of APAC said marketers can expect AI-powered personalization to become the norm. In parallel, the industry can look forward to the potential impact of his 5G, cloud gaming, and virtual reality.
“The region itself will see a surge in mobile viewership, driven by local players such as Viu and Hotstar,” Quigley said.
“Overcoming censorship will be a significant challenge, but overall, APAC is poised to be a major driver of innovation and growth in the streaming industry.”
Quigley added that in 2024, the story will be shaped into an interactive show, with the ability to purchase directly within the cooking demonstrations and the ability to attend concerts virtually.
Cloud gaming could level the playing field for casual gamers, while VR could bring viewers to documentaries and a front-row seat.
One thing is for sure: the streaming industry is pushing the boundaries and blurring the lines between viewing and participating.
Quigley’s advice is that advertisers need to move beyond disruptive advertising and embrace engagement. This can be in the form of creating experiences, sponsoring live events, or seamlessly integrating with your content.
She said brands should “think locally and act globally,” “embrace data and personalization,” “prioritize brand safety and user privacy,” and “measure attention, not just impressions.” He added that it was necessary.
Mr. Nizwani Chahar, CEO of Havas Malaysia
Nizwani echoed Quigley’s sentiments, saying the streaming industry is moving toward hyper-personalization and interactive content.
According to Nizwani, this evolution moves beyond traditional narrative to include immersive experiences that foster deep engagement.
Shahar expects AI-driven recommendations and real-time content integration to increase significantly in 2024.
This is especially true as streaming platforms are likely to increasingly leverage artificial intelligence to understand viewer preferences. This allows us to provide customized recommendations and enhance the user’s entire journey.
This means marketers venturing into streaming on the platform must prioritize authentic storytelling.
Align your messaging with your platform’s ethos to ensure your campaigns reflect authenticity.
Nizwani added that marketers must leverage data analytics to decipher evolving audience preferences and optimize campaigns to maximize response.
“The success of streaming advertising depends not only on the content, but on delivering a memorable experience that captivates people and converts,” Nizwani said.
Emily Yri, Vice President of International Marketing, PubMatic
Ely said more and more streaming services are incorporating advertising. He added that platforms such as Netflix and Disney+ are introducing supported tiers, and traditional terrestrial broadcasters are adding ad-supported digital services.
Pure Play OTTT streaming is also gaining traction, Yri said. However, this does not come at the expense of your subscription.
“It’s about expanding the market to provide options for every consumer,” she continued.
Like Anderson, Yri has also noticed a proliferation of FAST channels across APAC, expanding from the model’s success in the US.
This is especially true as major companies such as Paramount have become available in the region, bringing with them a wealth of new inventory.
Marketers who want to tap into this growing market should embrace programmatic marketing.
Programmatic marketing offers a level of agility and addressability not possible with other methods, potentially offering real-time responsiveness that allows advertisers to experiment and pivot quickly with less budget. continued Yri.
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