Consumers, More places all at once (prt 1)

Posted on 23. Oct, 2005 by in Prior Posts

From Oct 2005- Published in a popular media industry publication
Thousands of articles have been written about the shifting media landscape. We all know it’s coming. The truth is, it is already here. TiVo has been allowing consumers to time-shift and ad skip for several years. The Internet has become a fast growth multi-billion dollar advertising vehicle, expected to generate more than $14 billion in ad revenue in 2005. High-speed Internet access, or broadband, has attained critical mass, reaching 42 million U.S. households this year. People are consuming media on the go and on new portable devices like mobile phones and PSP Players. It is estimated that by 2009, there will be 168 million video enabled cell phones and 30 million subscribers to at least one video service in the U.S., generating over $3 billion in revenue domestically (worldwide market will grow to $27 billion by 2010).

The fragmentation of media and the explosion of choices has driven changes in the way consumers (particularly younger viewers) are influencing programming today.

o The Next New Thing: Driven by cable networks, consumers are used to continuous new programming introductions. More premieres, shorter seasons, and fewer episodes per series. Contemporary viewers are drawn to programming that constantly refreshes.
o I’m In Control: Driven by video games, DVDs and DVRs, contemporary viewers are used to controlling their viewing and “slotting” consumption on their own terms.
o Short Form: Americans are consuming 95 hours more “media” on average than they did just last year, and 310 hours more than five years ago. They are also consuming media in smaller and smaller “bites” and multitasking thanks to shorter attention spans, and proliferation of digital devices such as video games, mobile devices and broadband.
o Quest For Different: Young viewers today are information impressionist because of the way they go to different sources for news and entertainment, combining Yahoo, NBC, The Daily Show and word-of-mouth to be entertained and informed. They are willing and it is easy to choose from new and unique sources to find an interesting variety of content.
o Blurring Boundaries: The boundaries between television and the actual world are increasingly blurred. Media content has become more hands-on via interactive digital technology and more easily transferable and shared. Viewers now multi-task, consuming various forms of media at the same time. Picture a today’s typical teenager, with their iPod on, flipping TV channels, Instant Messaging friends about a TV show, and surfing the Internet. Furthermore, you can now engage the viewer and create a lasting valued relationship because these new platforms are interactive. For the first time you and your advertisers are one click away for creating a valued relationship, lead or sale.

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