Local broadcasters gain ability to traverse the evolving media domain, thanks to streaming platforms.
The notion that streaming is detrimental to the broadcasting industry is a misconception that can be overcome if broadcasters choose to embrace it. Streaming offers a powerful tool for enhancing audience engagement, expanding reach, increasing revenue, and driving the future of media.
One of the key advantages of streaming is hyper-targeted advertising. Unlike traditional broad demographic approaches, streaming allows for more precise and timely advertising, delivering incremental value to major organizations as they reach buyers, increase brand awareness, and build loyalty.
Streaming platforms offer various monetization models, such as AVOD, SVOD, TVOD, FAST, and more, with higher advertising costs per thousand (CPMs) compared to traditional broadcasting. This shift could potentially reverse the trend of shrinking revenue streams.
Local broadcasters are not being overwhelmed by the surge in streaming consumption. Instead, they are finding opportunities to reach and engage new, younger audiences and maximize ad revenue around local content. Regional media companies, with their intrinsic understanding of their markets backed by robust data, are well-positioned to outperform global giants in their respective regions.
Many local broadcasters have already adapted their offerings to meet the digital demand, streaming their content online, including full live streams and high-value segments like local news stories, sports updates, and weather reports. Leading regional media companies can thrive in their regions if they take the right steps to meet modern audiences with modern streaming services.
Local broadcasters tend to own significant portions of their content, especially local elements like sports, news, weather, and more, presenting a unique advantage for them to establish a meaningful online presence. To accelerate their digital presence and utilise the full power of streaming, broadcasters can partner with experienced and specialized providers like Brightcove to manage their digital and streaming infrastructure.
With the right technological partner, broadcasters can quickly and cost-effectively adapt to streaming, enabling them to focus on creating the right content rather than technological developments or worrying about how to get their content to their viewers.
The integration of AI and advancements in targeted advertising, user data integration, and content reformatting will further revolutionise content creation and distribution in the media industry. Digital platforms enable broadcasters to shift content strategies quickly, segment their audience more effectively, and test new programming, yielding higher CPMs and less wasted coverage and inventory.
Traditional broadcast and cable viewing have been significantly impacted by the rise of streaming services like Netflix, YouTube/Google, Amazon, Roku, and Samsung TV Plus. Nielsen's The Gauge analyzes U.S. TV-viewing trends and highlights the shift towards streaming. Connected TV is one of the hottest platforms for ads in the market right now, and local broadcasters are equipped to efficiently execute on these platforms with their content.
Regional media companies like Joyn, RTL+, and MagentaTV in Europe and ESPN+ in the USA are successfully reaching younger audiences and optimizing local advertising via streaming platforms. These companies offer sports streaming like Bundesliga games and target younger viewers through digital access and localized content.
In conclusion, the future of the media industry lies in the integration of streaming and the adoption of modern technologies. By embracing these changes, broadcasters can not only survive but thrive in the digital age.
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