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An article on streaming innovation by Jay CEO Peter Effenberg

Audience research and insights have been at the heart of our approach to building Jay. At the core of our mission is the goal to help our streaming partners evolve their platforms, by introducing new features driving viewer centric experiences, audience engagement, loyalty, retention, and revenue development.

This week, we’re pleased to share the key insights we’ve uncovered in our research, in the form of our latest whitepaper, The Evolution of Video Streaming Audience Needs. The full whitepaper is available to download for free now – just click here.

What became evident in our research to date, including a major survey of the German market undertaken by Kantar, is a rising demand for streaming services to better utilise the full range of interactivity offered by smartphones, tablets and smart TVs, enabling audiences to engage with what they watch on a whole new level.

We’ve recently seen large US players such as Amazon and Apple add retail, trivia and bonus content features to their streaming propositions. Our research highlights just how much German audiences expect to see these features across the streaming platforms they use to watch film and TV content.

This evolution in audience expectations has been driven by advancements in technology, the proliferation of connected devices, and behavioural trends led by the integration of traditional lean-back viewing experiences with the lean-forward approach of contemporary times.

We’re also at a moment when the streaming industry is dealing with major challenges, not least the need to improve profitability while stemming user churn. This has led to a period of commercial experimentation, evidenced by the rise of hybrid commercial models combining paid subscriptions with limited advertising, as well as the fully ad-funded FAST model (Free Ad-Supported Streaming TV).

The rise of bundled offers, such as the forthcoming collaboration between Disney and WBD – which will see Disney+ and Max offered in a single package to US customers later this year – signifies heightened competition for eyeballs now there are so many streaming players in the market, all battling for a share of consumers’ limited disposable income. An issue compounded by the economic challenges still faced by many nations.

It’s clear, therefore, that we’re at a critical point in the evolution of streaming, as the next generation of services are being developed. Our latest whitepaper aims to shine a light on potential routes forward, through the lens of product innovation and its role in winning with both subscribers and advertisers.

I hope it offers some value to you and helps inform some of the challenges we’re all facing as the magic of streaming continues to evolve.

Three key trends identified in the whitepaper include:

Audiences demand more interactivity

The rapid adoption of smart devices has significantly altered user behaviour, setting a new expectation for heightened interactivity in video-on-demand services. Today’s viewers no longer passively consume content; they seek immersive experiences allowing them to interact with their favourite shows.

In-stream shopping, bonus content, access to trivia and information, and reliable and accurate recommendations have become baseline demands. As our whitepaper reveals, Kantar research highlights that over 70% of 18 to 29-year-olds in Germany express a desire to access such features.

Shoppable content is a viable commercial opportunity

The convergence of e-commerce and streaming presents a significant commercial opportunity. Kantar research reveals that a considerable segment of the German audience – almost 70% of 18-29 year-olds – is highly interested in features enabling them to purchase products they see on screen, while watching their favourite shows.

New technologies are enabling a seamless viewing and shopping experience, eliminating the need to switch between different applications or devices. E-commerce integration not only enables streaming services to participate in retail revenues derived from their service, but also enables more compelling, contextually relevant advertising experiences too. Data relating to user purchases provides valuable insights to inform broader creative, commercial and marketing strategies.

Putting the viewer first, drives loyalty

In an increasingly competitive market, a viewer-centric approach is essential for fostering long-term loyalty. User-first strategies in content, design and functionality are crucial for enhancing viewer satisfaction, and strengthening emotional bonds between viewers and their favoured streaming services.

Offering greater levels of personalisation is at the heart of such a viewer-centric strategy. By leveraging first-party data and analytics from enhanced feature sets, including shoppable content and bonus information layers, streaming services can offer more tailored, personalised recommendations. In turn, this helps boost loyalty, subscriber retention, targeted advertising capabilities and, ultimately, revenues.

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2024 © transfermedia production services GmbH

2024 © transfermedia production services GmbH

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