Australian Entertainment: TV Broadcasters Driving The Future of Television
As the internet slowly dominating every entertainment platform, television is one of the major sectors that need to shift to digitalisation. Movies and series viewing are now commonly watched online, so, TV broadcasting gradually making its way to the internet. Australian broadcasters, the prominent faces of television, are not imperilled by the future of TV. Instead, they feel like they will be the ones to drive it.
In the near future, all TV programs will be watched online while all advertising will be relayed through programmatic pipes. It may sound like bad news and quite a big shift in the face of the TV industry, but it is actually quite the opposite.
Ever since the media-viewing habits of audiences changed over the past years, end-users gained greater control as to what kind of entertainment they want to view and what time. Thus, TV broadcasters resort to diving into the world of digitalisation where their audiences can access their broadcast anytime, anywhere.
The economic and social standing of TV in Australia, despite the digital shift, continued to be significant to many. Commercial TV and advertising contribute as much as $2 billion GDB yearly whilst $1.5 billion is spent in enhancing and developing TV content. Thus, with the future comfortably sitting right in front of us, the reality of the future of television is working its way towards it.
The Future of Television in Australia
The Relevance of a Good Content
Digital streaming platforms such as Netflix and Hulu have significantly shaken up the landscape of TV. The impact of such drastic alteration and introduction of a totally different competitor might seem like a serious threat to TV. However, the TV industry embraced such change and considered the shift a chance to innovate, create, and go out of the box. The TV entertainment sector is giving a lot of focus on their content.
TV networks invested in making new original series, utilising homegrown content, boosting digital back catalogues, and debuted most-watched primetime TV shows on their digital channels. Additionally, the live real-time airing of TV shows and broadcasting are now the new norm in the TV industry. This drastic and demanded shift to the internet delivers content to engage audiences and fuel the adaptation of BVOD or Broadcast Video on Demand. The TV industry is paving its way online not only to promote binge-watching but also to measure new viewing behaviours. All these are substantially triggered by the lockdown where everyone is required to stay at home. Thus, content creation magnified the connection of the audience to TV viewing, while the shift in BVOD is also accelerating.
The Significance of Programmatic BVOD to Marketers
Product advertising is one of the major contributors to the monetary stability of TV. Ad expenditure may have decreased significantly due to the digitalisation shift but it is not bound to leave. BVOD in Australia is one of the advertising mediums that is growing fast by nearly 40% in a course of one year.
The migration of viewers to BVOD is being followed by brands from the TV industry. It is now more focused and measurable by the data-driven targeting schemes and programmatic trading making advertisement more efficient.
Before digitalisation, TV advertisers are required to have a relationship with TV channels which involves a one-on-one agreement to reach their targeted goals. However, programmatic BVOD purchase cuts down a lot of manual transactions and made online advertising more feasible, easier, and focused without compromising their relationship to different TV channels.
Moreover, another significance and advantage of programmatic BVOD is the gain in addressability. It also allows them to publish content directly to their target audience. Advertisers can now assess the effectiveness of their campaigns in real-time and can cancel the ad if it’s not reaching the right market. As for viewers, on the other hand, are now seeing ads that are relevant to them. They are not pushed to watch an ad they have nothing to do with, but instead, they are served with ads in accordance with their online behaviours.
BVOD Towards Effective Television Advertising
Viewer experience is now the sole focus of many who are banking on digitalisation. BVOD is extending long-term brand-safe content to viewers which TV broadcasters are upholding such high standards. Through deeply understanding the viewer’s online activities, broadcasters are bound to deliver significant contents that will develop a strong foundation amongst their audiences in the long run while promoting sustainability in advertising.
The transition of internet-enabled TV in Australia has led the country into delivering content at pace with their viewer’s choices. BVOD projects endless creative opportunities that will gradually lead to the bright future of “TV” viewing.