Video Eats The World!
Predicting the future is never easy and no more so than in the world of media where technology has and continues to drive seismic shifts in how media is consumed. Mindshare Futures, our emerging media and technology research programme based in London, specialises in future trends and has very recently released a report looking at the future of TV and Video content over the next five years to 2022.
It’s an insightful and well thought out piece framed by input from industry experts, and both primary and secondary research. It foresees a future best characterised as one of “more” and instead of the “death of TV” that many digital soothsayers have predicted, that we can expect growth from newer and emerging forms of video to be built on the foundations of traditional TV. Three key themes emerge in the report:
1.More Consumption. Total Video consumption will grow by around 10% by 2022 driven by increases to time-shifted TV, VOD and Online Video. Linear TV will continue to decline albeit at a slower pace than we’ve seen to date and will fall by 15% for all adults by 2022.
2.More Fragmentation. The decline of mass audiences to linear TV coupled with the continued growth in video formats will continue to drive fragmentation in how video is consumed.
3.More Personalisation. With data, TV and video will become more tailored to the viewer, both in terms of content and addressable advertising.
The report also offers very useful pointers to advertisers on how they can best prepare for these developments through the following actions;
- Continue to embrace video as a medium and take full advantage of these new opportunities
- Don’t neglect linear TV
- Prepare your data architecture for greater targeting
- Produce more flexible creative for personalisation at scale
- Balance addressability with broadcast.
A copy of the full report can be downloaded here:. Also worth a read is a blogpost from our own Jessica King on why TV still has a big role to play on media plans.