The Economist* has prepared a special report called “Changing the channel” investigating the changes in media distribution and consumption and how it affects our most popular content and broadcast medium.
Following on from last week’s post we can see further evidence that video or moving media is arguably the binder that keeps the growing mediums and users glued together. The losers are not really a surprise but television is actually growing alongside computer and video games with music also continuing to build.
However, we can also see from the report that overall media consumption is growing as multi-tasking see’s 8-18 year old Americans spending an extra hour plus a day consuming content. This is not to suggest that the overall time spent is growing as thanks to multi-tasking, we are seeing an increase in concurrent consumption with video game playing accompanied by music in the background with the occasional glance at a streaming video on the mobile phone.
It would seem that advertising is clearly following the media with the internet forecast to consolidate and even build on its pre-eminent position in advertising spend. However, Enform also believes that it supports the importance of moving media of all kinds as a medium for delivering product and brand messages to the usomer .
The internet delivers the lowest production and distribution cost per broadcast minute to a specific audience or customer segment. At the same time TV viewers, through the use of PVR’s (personal video recorders) or other time shifting strategies are increasingly skipping traditional advertising on all but the most popular or socially topical shows.
So, though our marketing budgets may preclude some from TV advertising, we can see that online video should be a significant focus for advertising and promotional campaigns. But, these campaigns need to integrate the product and message into the story to be effective.
*Source The Economist special report -“Changing the channel” May 1st, 2010