By Adam Groffman, JW Player
Did you know connected TV digital video viewing is nearly 2x desktop/laptop viewing and is forecasted to take over mobile viewing in 2021? Across the JW Player network of broadcasters, we’ve seen a 28.6% increase in video consumption since just the beginning of 2021!
To better understand how digital broadcasters are using video in 2021, we recently surveyed film and TV media companies ranging from independent niche broadcasters to comScore Top 100 media giants. The insights from the survey include their 2021 engagement goals, monetization strategies, KPIs, how to measure success, and how they’re using online video platforms to achieve success.
The responses provide valuable insight into market trends across all digital broadcasters. Digital native broadcasters are finding success with new and exciting video strategies that we’ve outlined in our latest industry report, Video Industry Insights for Digital Broadcasters: Reach New Audiences on New Screens.
Here are five key takeaways on the state of digital broadcasting in 2021.
5 Things to Know About the State of Video for Digital Broadcasters
1. Video consumption for digital broadcasters has increased 28.6% since the beginning of 2021
For years, audiences – younger audiences, in particular – have been migrating away from linear TV in favor of streaming services and digital destinations. With greater flexibility and choice for viewers, streaming content is becoming more and more attractive to film & TV broadcasters as a way to complement or even replace traditional content delivery.
Consumption of Broadcaster Content in JW Player Network
Across the JW Player network of broadcasters, there was a 28.6% increase in video consumption since the beginning of 2021, and nearly a 50% increase since 2020. Connected TV consumption, in particular, saw a 27.23% growth this year—indicating that audience appetite for lean-back, immersive video experiences has not waned since the pandemic. Read more…
2. Engagement is the top priority for digital-first broadcasters in 2021
In a recent report conducted by JW Player, 76% of broadcasters say increasing engagement is their top challenge this year. With traditional broadcasters all launching streaming services, and with publishing video content online now as easy as tapping a button on a phone, digital media outlets are facing new and unique competition for consumer attention. Read more…
3. 24/7 Live streaming helps broadcasters increase engagement reach new audiences
Streaming offers a lower barrier to entry than traditional cable/satellite TV distribution while allowing content owners to reach a global market. There’s less risk in setting up a live channel, but the rewards are potentially greater than with TV because you’re not limited by geographical area. Sports live streaming, in particular, has increased dramatically over the past year. Read more…
4. Digital-first broadcasters are utilizing a strategic mix of monetization models (AVOD, SVOD, and freemium)
In 2021, broadcasters can leverage offering flexible consumption models to their viewers to maximize conversion, retention, and revenue. Video consumption dramatically increased in 2020, with consumers turning to streaming services in their living rooms for entertainment, fitness, sports, and learning during the pandemic. Subscription services skyrocketed, as did the potential for ad revenue. Digital-first broadcasters are finding success with a mix of monetization models—whether through ad-supported video, subscriptions, or hybrid freemium models. Read more…
5. Branded OTT apps are the future for digital-first broadcasters
Niche broadcasters are using OTT apps to differentiate themselves from competitors with unique viewer experiences on connected TV platforms. Standalone OTT apps are experiencing exponential growth. At JW Player, we saw a 133% increase in distinct apps active in our network from 2020 to 2021, driving an overall 361% increase in OTT app-based video consumption. Read more…
For more detailed analysis of broadcaster 2021 insights, download our newest playbook in partnership with VUALTO, Video Industry Insights for Digital Broadcasters: Reach New Audiences on New Screens. Download the playbook here.