As you may have read recently in the Broadband Technology Report, I strongly believe that it doesn’t all need to be doom and gloom for pay TV operators faced with the rising competition from OTT. Traditional business is under threat, but that doesn’t mean that providers can’t choose to adapt in order to meet the rising demand for multiscreen on demand content. Consumers are still looking for the same content, simply in a different format. Traditional broadcast may be declining, but content isn’t.
The way that traditional broadcasters react to the shift in the market is vital to maintaining a strong consumer relationship and brand loyalty. It could be argued that the consumer demand has simply matured, they are no longer willing to come to you, but are demanding that you go to them. Not only that, but consumers are expecting a tailored experience, they want to feel catered to as opposed to being a mass audience. This doesn’t have to have a negative impact on pay TV, but could instead boost consumption of content. Broadcasters can now reach a much wider audience at any time of the day.
Broadcast has entered the new age of the digital consumer, and the shifting winds simply cannot be withstood by companies refusing to change with the times. Not only do operators need to adapt to the new consumer environment, but they need to do so seamlessly. It is vital that consumers are being satisfied. The potential for OTT to not only reach millions but gains millions more viewers is untapped by most broadcasters. Consumers are content hungry, with the binge society resulting in content being priceless if it can be delivered at any time, and with a flawless user experience. In this new digital age, people no longer have the patience to sit through buffering, or organise their schedule around the television timetables. As in any industry, when the new winds blow, you have to bend and adapt. By doing so, traditional broadcasters can enter the world of content consumption at an unprecedented rate. The customers still want your content, simply on their own schedule, and at their own standard.
If you can’t beat them, join them
The truth is that on traditional linear TV alone, broadcasters are losing the battle to OTT. So why not, instead of battling against OTT, harness its potential for growth and attraction of new consumers? By offering an OTT service alongside linear programming, broadcasters can make the user experience dynamic, integrated and engaging. Native client-based applications are paramount to achieving this successfully because they enable an operator to provide a consistent TV experience, that is both tailed and specific, no matter what screen it is on. In order for broadcasters to successfully maintain and leading position, it is vital that they invest in a platform that can offer personalisation, interactivity and socialisation to their service across all viewing devices. This can help broadcasters stand out from the rest, as a capability and demonstration of flexibility is fundamental to being able to keep viewers engaged, and increase revenue.
Adapt or Die
The subject of how connected devices can be implemented, and the advantages of such a business model is one that is generating innovative thinking. Simon Leadlay, the Director of Pay TV Business Development for Accedo is going to be discussing the revolution of the connected TV business at NexTV CEO Summit in Miami. This is a subject that people in the industry need to be considering. For the traditional broadcasters, we have reached a point of adapt or die. They say that “change is constant”, and for operators to thrive in an ever-adapting and considerable competitive industry, it is time to adapt.
If you would like to book a meeting with Simon at the NexTV CEO Summit, please click here.