VOD has changed consumer behaviour considerably over the last few years – people now expect relevant and high quality content that can be accessed anywhere, at any time and in their preferable format, as a flawless viewing experience.
2022 saw the VOD market become only more complex and even more dynamic. Yet in terms of what audiences really want, the overarching theme of expectation was the desire to do more for less, something true for the entire supply chain.
The overarching theme of expectation was the desire to do more for less.
As we kick off 2023, Deloitte, CSI and Kantar have published their predictions for the years ahead. As households continue to be squeezed by the cost of living crisis, Deloitte predicts that a fifth of households may have accumulated at least five paid-for VOD services by the end of this year, but these services will be hybrid and include advertisements, therefore at a lower price point than a fully SVOD service. In contrast, their research shows that at the start of the 2010s, the range of VOD services on offer was much more limited, therefore most households had no more than 2. They also predict that VOD will have an increased role to play in sports viewing.
Across the board, it’s thought that FAST will continue to rise in popularity and the calls for greener streaming and overall sustainability of the environment industry will also continue – even though there is a general consensus that we cannot currently measure the energy consumption in this area. Indeed Kantar reports that several technology and broadcasting giants have set ambitious targets to go carbon neutral including Amazon and Sky, likely rethinking their planning and buying strategies to achieve them.
Streamlining operations will be vital.
We predict that as consumers continue to focus on their financial outgoings, it’s important for services to offer consumers options that are affordable and continue to bring them great content. To do this, streamlining their operations will be vital, as having a clean and focused workflow will allow them to do this, especially when the bottom line is such an important focus.
More than ever, broadcasters are looking at ways to provide increased value to their consumers. With BeBanjo joining forces with MEDIAGENIX, we can now offer the best-in-class WHATS’ON linear scheduling & programming solution with the best-in-class cloud-native BeBanjo VOD scheduling & planning solution in one portfolio. This joined-up product offering to our customers opens further opportunities to optimize content supply chain orchestration.
Meet us at NAB Show 2023 (Las Vegas, 16-19 April) and learn more about how we can help you face the challenges of 2023 and optimize your opportunities. Mail to nab@mediagenix.tv.
