The market for online video services has turned a corner. The conversation is no longer about how to get online, it is about how to build a profitable, thriving business. Online video service executives agree that finding customers and keeping is the only way to that.
To understand how the market for online video is evolving nScreenMedia spoke at length with senior executives from companies such as Verizon Digital Media Services, Fox Latin America, BritBox, CuriosityStream, Elation, and Turner Classic Movies. Their collective thoughts and insights, along with analysis of the market challenges they highlighted, are provided in the new free white paper Finders-Keepers: Scenarios in the open market for TV entertainment. The paper is sponsored by You.i TV, the cross-platform video app experts.
Online video market undergoing rapid change
The emerging market for TV entertainment online is unlike anything we have seen before. Gone are the constraints imposed by the days of restricted bandwidth and entrenched content gatekeepers. Anyone with a video catalog and a target market can launch a service.
However, launching a video service is just the beginning. The rules by which online providers must play are radically different than in traditional media. Whereas the technical and business rules in pay television have been established for decades, online everything is in flux.
That said, the online economy for TV entertainment has existed long enough for some rules and trends to become clear.
Online video service scenarios
The TV/video industry executives nScreenMedia spoke to are dealing with, and in some cases shaping, how the open market for TV entertainment is evolving. However, much of their focus revolves around a single theme: how to find subscribers, and how to keep them.
Five key scenarios, each related to this finders-keepers theme, came up repeatedly during our executive interviews. The five topics covered in the white paper are:
- Being found
- Simplifying authentication
- Turning binge-and-bolt into anchor tenancy
- Increasing the funnel
- Coping with multiple distribution partners
The paper includes descriptions of how launched services are addressing the issues involved in each scenario. For example, Soumya Sriraman, President of BritBox, discusses how the three pillars of her service – first, fresh, and finest – are helping stop the binge-and-bolt phenomenon in its tracks.
Experience key to each scenario
What became clear from these conversations is that the experience of the service is vital to its success. From the first-time viewer to the long-term subscriber, the process by which users find and watch great content is pivotal to their decision to stay or to go.
Each industry executive we spoke to articulated the need to keep the experience at the forefront of every decision. Moreover, nowhere is the impact of experience more keenly felt than in the user interface. An obsession with creating a great user interface is a common thread the reader will find throughout this paper.
To learn much more about how the five scenarios will impact your TV entertainment business download the free white paper Finders-Keepers: Scenarios in the open market for TV entertainment.