On Friday, November 24th at the Hospital Club in London, Jamie West, Group Director of Advanced Advertising at Sky Media UK, opened our Future of TV event with a bright description of the current TV advertising landscape:
“There’s never been more choice, more availability and diversity in content, and more competition than there is now in TV.”
While many marketing professionals believe that TV is dying, our panelists, including Jamie West, Joanna Burton (SpotX), Matt Whelan (The Specialist Works), Jonathan Leech (MC&C) and our own Mike Shaw, argued the opposite—TV is not dying, but is, in fact, growing. Not one, but many reasons were discussed by the panel as to why TV is the future and how marketing professionals and tech companies alike should take advantage of this growing sector.
You can view the recording of the full discussion here or read on for seven key takeaways from the event.
7 key takeaways on the future of TV
1. Creative is critical
TV is a powerful medium for marketing professionals to tell their story and to expand how they execute content across multiple devices. Most marketing professionals are now able to deliver more engaging and thoughtful creative than they were before and can get in front of their audience on various devices across hands and pockets as opposed to only the traditional devices seen in living rooms.
2. TV has evolved
TV has evolved into something more than just ‘watching.’ The industry needs to reevaluate how they utilize visual media and find a measurement and planning framework that enables agencies to get the most out of their AV creative.
3. Fragmentation and choice
TV is becoming more and more fragmented which gives viewers an abundance of choice. People are consuming more content than ever before and in slightly different ways through mediums such as Netflix, Amazon, Facebook videos, etc. Measurement and the evolution of data is the key moving forward, but not to the detriment of reach.
4. Trust is paramount
There needs to be trust between agencies and their brand clients in order to maximize the effectiveness of TV. This trust enables the sharing of valuable data that will maximize the frequency of TV ad exposure and result in a cohesive view of the individual formed from their varying IDs and devices.
In the past, TV was primarily optimizable for reach and frequency, but now, marketing professionals are at a stage where they can bring the data together to drive performance, sales, and other measurable factors.
5. Single platform that does it all
Agencies and their brand clients want a single campaign execution that runs across multiple platforms—including TV, digital press, radio, cinema, and outdoor. For this to be fully realized, marketing professionals will need a common integration point. This will result in the eventuality of TV companies needing to partner with one consistent and standardized tech platform.
6. Hitting the real goals
We, as an industry, need to collectively move away from a programmatic environment that focuses on arbitrage and margin and move towards advertiser benefit and effective advertising outcomes.
7. Competition is heating up
The industry will start to see far more competition from premium content producers such as Facebook and YouTube, who will change and start to dabble in long-form content production.
Tune in next time…
On behalf of dataxu, we’d like to thank our guest panel members Jamie West, Joanna Burton, Matt Whelan, Jonathan Leech, Mike Shaw, and moderator Jeremy King for an insightful and thought-provoking discussion on the future of TV. Want to continue the discussion? Connect with us on Twitter and LinkedIn and let us know your thoughts on where the future of TV is headed.