A recent report from video advertising platform Videology summarized what we at Media Experts have been following for years: younger demographics are consuming more and more of their media across multiple screens, particularly mobile. Digital is the nemesis of traditional broadcast programming as advertisers continue to face challenges from DVRs, VOD, and the darling of them all, Netflix.
Videology CEO Scott Ferber is correct in his comment that watching TV is no longer, “crashing on your couch across from a glowing box”. As more subscription based models develop mobile apps, constant access to digital content becomes the cultural norm. Why should I pay to watch this game on TV, or go to a sports bar, when I can see all the highlights, in real time, on Twitter, the homepage, or even an app, all from the comfort of my parents’ basement?
Streaming for millennials is the same as tuning in is for our parents. We’re talking about a demo that grew up with broadband, have Wi Fi on campus and text faster than they can speak. So if a third of this growing cohort is consuming more digital than broadcast content, is the future of TV in jeopardy?
Not by a long shot.
A recent study by the Huffington Post reported that “Fifty-six percent of adults ages 18 to 24 are living at home, compared to 16 percent of 25- to 31-year-olds” and those numbers are expected to grow in the foreseeable future. Two reasons underpinning these statistics are the decline in millennial employment and their marriage rates. Compared to their boomer parents, millennials are waiting to get married, earning a masters degree, and getting in some serious travel or work experience before entering adult-adulthood.
But what does this all mean for advertisers? Garrett Sloane, writing in AdWeek recently, believes in “reverse engineering development”. By leveraging the digital viewing habits of the youngest of this cohort, advertisers can influence and reinforce traditional broadcast buys. Monitoring mobile habits amongst the youngest of the demo can reveal valuable behaviours and information about a wider audience. Videology claims that “marketers can boost their reach to young people by 15% when including digital in their plans and…success should be measured across all screens.”
By adopting a holistic approach to multi-screen content, advertisers can narrow in on the niche, while continuing to cater to parents with purchasing power.
We term this thinking, and acting, Tradigitally™. Approaching a TV campaign as a unified video strategy, orchestrating the online and offline video sources from which consumers source their content, as well as the video component’s role within the global campaign, empowers us to bring greater effectiveness and efficiencies to our customers’ advertising.
TV is going to have to learn to share because we’re already beginning to see to see the consistent flow of dollars between screens.
And now you’ll have to excuse me, I hear Mom calling me to dinner.