TV is Dead. It used to be a box that evolved from radio to deliver breaking news, hilarious sitcoms, late night TV shows, and a better wave of movies in your living room. Then it morphed into a device that started showing pre-recorded entertainment which included sports from popular teams. Thanks to companies like TiVo, fans got more control over what they watched on TV with their personal digital video recorders (DVRs). The rise of DVR meant fans of popular culture didn’t have to be physically in front of live TV to watch live events–you could watch it on your own time. Cable companies gave away a lot of DVRs to keep their customers happy. Now the Internet has changed it all. Streaming is giving more freedom to fans who crave entertainment–unlimited access, anytime on a variety of devices. From phones, tablets to smart displays–streaming is making entertainment personal again. And you can watch it from anywhere.
How advertising kept people consuming on TV
From the very beginning of human civilization, we have used stories as a vehicle for communicating, entertaining, and learning. This art-form was fundamental to the development of culture. The creation of TV-commercial exploded the ability for a company to talk to an enthralled audience. Advertising’s explosive influence has come about because of television and film to tell stories to millions of people over a short period of time. Thereby building rapid brand awareness and sales that are fundamental to a company’s success. The question for today’s digital brands is, where do I place my stories and how do I do this to have many people view it and share it on? Again, technology has liberated the process as never before.
Internet shifted the gear from YouTube to Netflix to everything streaming
The experimentation with streaming media has been going on for more than a decade. Netflix moved to streaming in 2007 and in 2013 to originally produced shows. The company’s success spawned dozens of competing services such as AppleTV, Amazon Prime, and YouTube.
American viewers can now choose among streaming services from most of the major players including Disney+, WarnerMedia’s HBO Max, NBCUniversal’s Peacock, Viacom CBS’s Paramount+, Discovery+, AMC+, Hulu, Netflix, and AppleTV at prices ranging from free to $15 per month. One startling statistic is that YouTube viewership is now 1 billion hours a day, which is more than the entirety of broadcast TV.
Computer vs. Telly
The rise of the smartphone was the end of TV and a new beginning for streaming. As the smartphone and computer merged to become part of human life, including for the young alpha generation that only know how to watch entertainment on mobile devices, TV became a distant memory. The computer in your pocket has the screen that captures the human imagination.
Like many technical innovations that now power the ever-evolving web, the digital age has been marked by the merger between the computer and the phone. This swift transition resulted in connected individuals searching for content and the rise of streaming.
Digital is taking over your attention span
The web has had little option than to evolve socially. There is now simply too much content being produced to be organized or effectively searched. People have been distracted by modern technology interruptions. The text messages, emails, and smartphones are all competing for our attention at work and home. Cutting down on the number of technology distractions can make a difference.
Why social media is less effective than segmentation
Although many brands had established a presence on Facebook in the form of fan pages, groups or customized apps by 2009, brand managers are frustrated with limitations of Facebook’s reach and cost. More recently, the web has itself started living up to its potential for becoming the most exciting playground in digital advertising. The emphasis has shifted from making TV ads, to social posts, and now to segmented marketing. The rise of market segmentation to include affluent customers such as the affluent South Asian Americans is becoming the most effective way to increase awareness at a lower price with potential customers due to shared characteristics.
A significant reason for the rise of segmentation is that it gives brands a specific access into the mindset of prospects and customers who are serious about buying decisions. FrontAd, for example, can give you a compelling exposure to an affluent South Asian community in a way that Facebook can’t. Plus, FrontAd gives you a new way to stand within a community and allows participation in a compelling way to increase awareness as well as sales.
TV is no longer an effective choice for entertainment
Although price and delivery technology are differentiation factors for consumers today, the most important reason for consumers is the choice for original content. Consistent with this belief is that Netflix, Amazon, and Apple are investing heavily on making their own shows. For example, Netflix is home to some of the most acclaimed original scripted series on streaming, cable, or broadcast TV. Shows like: The Crown on Netflix have gained a huge following and the company won 20 Emmy awards, second only to HBO’s 29.
Hollywood is welcoming the news streaming companies such as Netflix, Amazon, and HBO. In fact, all digital streaming giants are upping the ante. Netflix has announced it will spend between $7 billion and $8 billion on original content in 2021. Netflix outspends its rivals, including HBO, which spends $2.5 billion, Amazon Prime which spends $4.5 billion, and Apple at $1 billion.
Why you should not invest in TV ads
If you continue to invest in TV ads, it’s a missed opportunity to go where the consumers are. As streaming consumers are presented with an abundance of original content choices, it’s the start of the golden age for media. Low prices for new streaming platforms and the vast amount of digital content are giving entertainment consumers more options than ever before.
Online advertising is growing in 2021
The increasing technological advancements coupled with higher digital spending by companies is expected to drive the online advertising market in 2021. South Asians in the USA adore storytelling, popular culture, and cinema. The dramatic rise of streaming is bringing a smile to people who like movies or shows. As streaming companies shape their offerings to the specific demands of each demographic, they can harness FrontAd to reach the affluent, South Asian Americans. FrontAd is an effective way to use the digital platform to inform, persuade, and to remind about the attributes of new or established products. As streaming continues to evolve away from the notion of traditional TV, entertainment is going to continue to lift people in a positive way to escape into a better time.