In media, it’s the age of optimization and personalization.
How Hollywood harnesses technology to meet consumer demand for ever-increasing forms of content served across an ever-expanding range of platforms is at the heart of DiversityThe Winter Entertainment Summit, which runs virtually from January 26-27. Industry insiders span a wide range of fields – from streaming content to live entertainment, technology and engineering to advertising and marketing – weighed in on the trends and barriers that will shape business in 2022.
Here are seven important things from DiversityWinter Recreation Summit of:
Navigating Big Pivot
George CheeksPresident and CEO of CBS and chief content officer of Paramount Plus, focused on the growth of the Eye network and how CBS’ muscle can help strengthen ViacomCBS’s Paramount Plus streaming priorities and Pluto TV.
“We had to grow the CBS brand from a linear-only network to a cross-platform content brand,” Cheeks said in his keynote with Diversity co-editor Cynthia Littleton. The good news is that CBS is also reaping the rewards of exposure to its younger streaming brethren.
“There is one very clear point in terms of the show doing very well with a CBS linear audience, but finding a younger, non-duplicate audience when it comes to streaming. We saw that even years ago with ‘Criminal Minds’ and ‘NCIS’ on Netflix, and we see it now with ‘FBI’ and all the shows that we’ve come out with now.” “So in terms of programming strategy for CBS, we look at it as a whole. We don’t look at CBS in a vacuum anymore. We look at performance over linear, performance when,” Cheeks said. streaming and performance globally, this is also a key component for us, especially as we grow Paramount Plus globally.”
Don’t forget to grab some flyers
The CBS machine is prepared in advance by the procedure and the franchise fare. But that doesn’t mean there isn’t room for the programming team to watch the one-camera comedy about a couple who run a country bed-and-breakfast, inhabited by ghosts from other eras. together. On paper, it’s not a CBS program, Cheeks admits. But viewers beg to differ.
“We really wanted to hit a big shot, and the big shot was ‘Ghost.’ And the great thing is that the whole company – the programming, the marketing – everyone really embraced it, because we all believed in it creatively. I just got the data on the most recent episode and with replay and streaming the show now reaches 10 million viewers, 20% higher than the pilot episode, which proves that it’s really working. develop with momentum and enthusiasm. So we couldn’t be happier about it, because again, it’s a nice balance. It’s another show we’ve discovered, we’ve brought, and that’s doing incredibly well on CBS and incredibly well on Paramount Plus. ”
Multi-hyphen actor and producer Wayne Bradybest known for his long stints on “Anyway” and “Let’s Deal”, used his keynote speech with Diversity New York Digital Editor Todd Spangler to announce his partnership with San Francisco’s Supreme Academy of Free and Speechless Love about launching a virtual platform to deliver improv-based training tools to businesses and organizations. His opinion is that the principles of improvisation – being a good listener, being generous to partners in context – are important tools for management and leadership.
“Being able to work with Freestyle Love Supreme and with Speechless gives me the opportunity to use all the gifts that I have been given a part of, but it really took me 30 years of effort and to be able to take them away. give them say to the people in the stands watching ‘Whose Seeds’, ‘Oh, I wish I could do that.’ Give them. Give it to the person in the business who says, ‘Hey, here’s how you can listen. Bosses, this is how you listen to the people working below you and everyone else. This is how you work together as a team. ‘”
Rising consumer demand for real events and experiences
Panelists noted that one of the challenges of working in a (hopefully) late-stage COVID environment is measuring the rapid change in people’s desire to attend face-to-face meetings. consumption.
“You’re just seeing the most pent-up demand we’ve ever seen in the history of music right now. Kevin Chernett, Live Nation Entertainment’s executive vice president of global content, distribution and innovation, said we’ve been selling tours and festivals in just the past few weeks. “Pent-up demand is there. The other positive we’ve seen is that we only do vaccination programs. We’ve seen 90% of the audience get vaccinated. Overall, we’ve seen 15% of audiences say it’s a big motivator to get them vaccinated to show up. “
But after two years of social distancing, consumers have new expectations that need to be managed.
“People have developed this intolerance now for any kind of discomfort. When you can experience everything from the comfort of the couch in your own home, now people are more sensitive to traffic, long waiting lines, overcrowding, taking longer to get food. eat or line up for the restroom,” said Adam Harter, Pepsico’s senior vice president of marketing for media, sports and entertainment. I think all of us who are trying to deliver great experiences for our fans and consumers – are being held to a higher standard now.”
Where is the fish The fish finds your object
Marketers and programmers have more tools than ever to engage with consumers. But data-driven decision making is only as good as input data is collected.
“It’s really becoming the golden age of optimization algorithms. And algorithms are getting better and better in terms of being able to do a lot in finding audiences,” said Regine Sommese, VP of global subscription and paid media for Discovery. know. “But you have to have the infrastructure in place. So much media buying is moving away from how you define the perfect audience and instead how do you ensure that you have the right signals? And you’re building an optimization process that can take advantage of all of that because in the end that’s going to do a much better job of finding people who will convert, especially knowing consumers are so diverse in their preferences. what really makes up their composition and preferences. So that’s the best of times, it’s also the worst of times, but it’s certainly a rapidly changing moment.
Josh Rider, Vice President of Brand Partnerships at Instacart, said the shift to focus on specific interest groups rather than age- and gender-based demographic targets is profound.
“Today we don’t say like, ‘Hey, I want to target Gen Z customers on Instacart,’” Rider said. “I want to target people who have seen the soup catalog but have not yet purchased. Like, how do I talk to them? Because, I want to tell them about this amazing innovation I have around the soup. ”
Premium streaming and why programmatic has its place
Programmatic advertising helps make the world go round on the internet, but it is often judged to be less effective than other advanced forms of advertising. And that is not worth it in the eyes of some people.
Emily King, Executive Director of Marketing Strategy for Media and Digital at Fox Entertainment. “So while social media is great and has a lot of targeting possibilities in social media, they are often walled gardens. And the programmatic space and the trading desk have really opened the door for us to not only target the ways we want, but actually measure those goals on the back end in real-time performance. for our campaigns, and not just in their own third-party reporting. “
Krishan Bhatia, Chief Business Officer at NBCUniversal, stressed the importance of using data to drive higher ad rates during streaming and a better viewer experience overall.
“If you think about targeting, waste reduction, increased measureability, and how data and identifiers help drive the appeal of DTV and streaming platforms, we can create a significant premium from an advertising perspective in the streaming environment compared to Bhatia said. “In terms of streaming overall, you often exceed the value of television from an ad monetization perspective. And it goes back to the targeting of data, measurements and experiences you can create behind that. “
Tubi or not be free?
Farhad Massoudi, founder and CEO of Tubi, explained the pioneering ad-supported streaming service’s origin story and why he wanted to bet on a free platform instead of a subscription model.
“I started a company that eventually became Tubi in January 2011,” says Massoudi. “In fact, I wrote the first AVOD apps myself on Roku and Google TV. But I clearly believe in the future of online media, and connected TV plays a big part in it. And from the very beginning, we believed that TV apps would eventually replace TV channels. And we see that trend now accelerating during COVID. ”
But from the start, convincing content owners to do business with Tubi (acquired by Fox in March 2020) was a battle.
“First of all, a lot of people believe that the package[will]be protected and the real content won’t make it to streaming. And secondly, everyone believes that subscriptions are the only solution that will come when it comes to streaming,” Massoudi said. “Obviously the subscription was successful, but it’s clearly not the only way to monetize premium content.”
ViacomCBS’ Plus TV got off to a similar start. Acquired in early 2019 by Viacom, the company offers dozens of thematic free-streaming channels that are now the cornerstone of the group’s strategy to transform the group’s television profit center from linear to streaming.
“The benefit to Pluto is that when you put a piece of content in Pluto, you get two things: data and money. “And that machine has been running for years and is now generating enough data for us to make extremely informed decisions about the value of a piece of Pluto asset versus the value of a piece of content.” in Paramount Plus, instead of being able to use some parts of the same franchise on both. “
(Image: CBS’s George Cheeks, actor Wayne Brady)
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