IBC2024 was a whirlwind of game-changing tech and fresh ideas in the world of media and streaming. With over 325 industry leaders on stage and endless innovations on display, we cut through the noise focussing on OTT/VOD to bring you the standout moments and key takeaways. Buckle up and discover the best of IBC2024!
Service and Tool Fragmentation is the Real Challenge (Not Just VOD)
While the industry speculated on the consolidation of video-on-demand (VOD) services, IBC2024 revealed a different reality: the fragmentation of the tools and services powering the media ecosystem.
As new platforms and solutions for analytics, efficiency optimization, stream quality, and viewer engagement flood the market, companies are finding it harder than ever to navigate this overwhelming landscape. The explosion of specialized tools, each addressing a narrow aspect of the value chain, has made it increasingly difficult for larger platforms to figure out the best services to use.
Whether it's choosing the right CDN for optimal stream quality, leveraging analytics tools for real-time insights, or implementing efficiency boosters to cut costs, the decision-making process has become more complex. Major players are now turning to partners like intive for guidance in navigating this maze of services and integrating the right solutions to stay competitive.
Leveraging Advanced Analytics for Streaming Success
Discussions and product demos at IBC also revealed how video analytics are becoming insanely detailed, allowing VOD providers to react in almost real-time. Going further than just listing stats, analytics platforms are providing usable insights that VOD teams can implement immediately to boost audience engagement.
With access to granular, real-time data on service quality, streaming companies can resolve technical issues before users report them. And by leveraging insights on content performance, such as how long the viewer spends watching a trailer, or the types of content they watch at certain times, the platform can tweak offerings and provide a more tailored experience – ultimately boosting engagement and reducing churn.
AI-Driven Ad Breaks Create Tailored Experiences
As discussed in a recent intive Insights article, AI-driven advertisements are changing the game for streaming platforms, helping them personalize ads to viewer preferences, adapt them to the content being viewed, and reduce user ad frustration. Advanced algorithms help deliver ads that almost feel like they’re part of the show, making for a smoother, less intrusive experience.
Seminars and presentations at IBC dove into the power of AI-driven ads and strategies to help VOD platforms use them to reach and target audiences. With 42% of consumers in a Deloitte survey stating that they’d be willing to watch ads while streaming if they were more tailored to their interests, VOD services can’t afford to miss out on this opportunity to boost revenue and engage viewers.
Rising Subscription Prices Put the Ball in FAST and AVOD’s Court
US households are spending more than ever before on streaming – yet almost half say they’d cancel their favorite service if the price went up by $5. Conversations at IBC signaled toward FAST (free ad-supported streaming) and AVOD (ad-based video on demand) becoming more popular, as they provide a cost-effective alternative to many paid subscriptions. Even Netflix recently introduced a cheaper, ad-supported version in some countries to keep users who don’t want to pay the price hike sticking around.
However, as we’ve discussed, ensuring that the ads shown are personalized and adaptive to the content they’re interrupting is crucial if streaming platforms want to prevent viewers from dropping off.
intive: Your Partner at the Forefront of the Media Revolution
We left IBC2024 feeling excited for the future of the media and entertainment landscape, and more committed than ever to helping our media customers adopt cutting-edge technologies and create exceptional viewer experiences.
Interested in speaking to one of our experts? Get in touch today.
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