Consumers are rapidly moving towards online platforms for video consumption because they prefer to consume content whenever and wherever they want to.
Traditional TV broadcasters are beginning to see a decline in viewership and advertising revenues. Plus, they have developed their online presence to go after the eyeballs but they are struggling to draw back viewership in the face of increasing competition and innovation.
If these trends are not addressed successfully the very existence of traditional TV broadcasters will be threatened. How can these traditional TV broadcasters regain viewers whist leveraging on their existing strengths?
We believe traditional TV broadcasters need to focus on differentiating their content and become distribution platform neutral.
There isn’t single silver bullet, and they will need to pursue several actions:
Focus on developing an online video platforms with a best-in-class recommendation engine and UI
Differentiate by invest in top-quality content – this may be in local languages and/or in English – but should appeal to local and regional viewers
Increase reach by using multiple digital platforms, and then bring viewers back to their own online platforms to improve monetisation
Deploy the right business models – advertising and/or subscription led – and embrace product sponsorship in content especially where monetising through subscription services is a challenge
For in-depth analysis on this topic, or to discuss specific opportunities, please contact us at www.pioneerconsultingasia.com