Rapid TV News | Metadata Key to Monetizing Online Video | October 19, 2015 | By Roger Franklin
TV viewing habits changed drastically in the past few years, and content providers and advertisers have not kept up. This truth is the driver for the recent flurry of activity in the industry—broadcast giants buying live-streaming companies and cable providers launching over-the-top (OTT) channels.
The numbers explain why industry players, especially those with older business models, are worried.
- Nearly half of the world’s TV households will be watching online video globally by 2020 (Digital TV Research)
- 87% of viewers admit to simultaneously using a second screen device while watching TV (Lingospot)
- Gen Z-ers multitask across at least five screens daily and spend 41% of their time outside of school with computers or mobile devices (Business Insider)
- Mobile’s time share of viewing online video has increased by 200% in the course of a single year (Ooyala Global Video Index Q3/2014)
- Traditional TV ad revenue will drop from $59.9 billion in 2015 to $7.5 billion in 2018. OTT revenue will rise from $8.4 billion in 2015 to $31.5 billion in 2018 (The Diffusion Group)
Here’s what it boils down to: