 | Issue: | Global-ICT 2014 |
| Article no.: | 4 | |
| Topic: | “Living Media” – Content & Context: Research shows content consumption is moving towards mobile – companies need to react | |
| Author: | Robert Bakish | |
| Title: | President & CEO | |
| Organisation: | Viacom International Media Networks | |
| PDF size: | 374KB |
About author
Robert M. Bakish has been President and CEO, Viacom International Media Networks since January 2011.
In this role Bakish is responsible for all Viacom media networks and associated businesses outside the United States, including those operating under the multimedia entertainment brands of MTV, Nickelodeon, Comedy Central, BET, Paramount Channel and VIVA. He is also responsible for Viacom’s U.S. Hispanic service Tr3s: MTV, Música y Más and has oversight of all of Viacom’s international TV-related joint ventures, including Viacom18 in India and ViacomSBS in Korea, as well as channel ventures with BSkyB in the U.K. and Foxtel in Australia.
Bakish is based in New York and reports to Philippe Dauman, President and CEO of Viacom Inc. (NASDAQ: VIA, VIAB). Viacom brands are seen globally in nearly 700 million households in approximately 170 territories and 37 languages via more than 200 locally programmed TV channels and more than 550 digital media and mobile TV properties.
Previously, from January 2007, Bakish was President of MTV Networks International , where he oversaw double-digit, year-on-year throughout his tenure. Prior to that, he held a series of corporate, sales and development roles at both Viacom Inc. and Viacom’s MTV Networks division.
Before joining Viacom Inc. in 1997, Bakish was a partner with Booz Allen & Hamilton in its Media and Entertainment practice and also worked AT&T in its network systems area.
Bakish has an M.B.A. from Columbia University’s Graduate School of Business and a B.S. in Operations Research from Columbia’s School of Engineering and Applied Science.
Article abstract
Consumer habits are changing, which means content and distribution models need to change in order to account for increased mobile use and the phenomenon of “living media”. The context that data provides – across multiple platforms – can inform more targeted advertising and improve engagement.
Full Article
The extraordinarily rapid take-up of new connected devices, particularly tablets and smartphones, by consumers means content consumption habits are changing at breakneck speed. In order to stay relevant, media owners must remain fully apprised of consumers changing media habits, to understand what their audiences view, where and in what format.
For content providers, understanding audiences and the way they interact with media is crucial in effective engagement and content creation – our research informs everything we do – while simultaneously unlocking new sources of revenue and offering increased value to advertising partners.
Gaining insights into viewer behaviors, passions and interests is one of the most important factors in engaging audiences in ways that access these new revenue streams, but there’s little to be gained from chasing every passing fad. Likewise, there are real risks attached to dogmatically adhering to a certain way of doing things, simply because that’s what’s always been done. Instead, businesses should be prepared to go where the research leads them. Ideological inclination or aversion to a specific approach isn’t useful – a commitment to adapting to meet consumers’ needs – and making our content available where consumers want it, is essential.
This platform agnostic approach is particularly important given that our research shows that millennials are indeed consuming media via both linear and multiplatform channels, sometimes simultaneously.
Television remains critically important and is still the dominant form of consumption for content, with some 90% of millennials in Europe accessing live broadcast TV monthly, versus around 50% watching TV online.
Equally significant, however, is research showing that an explosion of connected devices is powering online viewing and ‘second screening’. The average household now owns between seven and eight viewing screens, with 44% of viewers accessing video content via devices other than linear TV and two in three tablet owners using their devices to view video content.
Second screening is also hugely popular among young people – our research shows that 40% of millennials engage in TV-related activity via social media, which climbs to 70%in China.
This ‘every screening’ isn’t confined to millennials – almost 40% of young people aged 9-14 use a device other than TV to view video content, according to research conducted in 32 markets.
This is ushering in what could be dubbed the era of ‘living media’, in which there is a seamless fusion of social media engagement, second- and third-screen content and interactivity. This means data provides real-time feedback, which informs content creation and enhances brand development. Put another way, today’s connected era offers an unprecedented level of audience insight, offering content providers huge opportunities to engage viewers in more effective ways.
Media owners should recognize that increased focus on ‘every screen’ offers the opportunity to engage consumers via mobile and the web, to develop apps to engage audiences, and create innovative multi-platform products offering consumers flexible yet integrated experiences. Equally important, consumers’ use of these apps provides media owners with the context in which content is digested, allowing for more targeted advertising and content distribution. If you think of each of the platforms as a point of consumer engagement you can make live events accessible through them too.
The dramatic increase in mobile usage has meant a surge in mobile consumption of content. For example, in 2013, 23% of web traffic for MTV came via MTV mobile, vs. just 10% in 2012.
Mobile internet is also driving engagement around TV content – for instance our flagship live music awards show, the 2013 MTV EMA enjoyed a global TV audience of 55 million, while 323 million votes were cast via digital and social media 16% of online engagement was via mobile in 2013, compared to just 4% in 2012. And in the final round of voting for 2013’s “Best Worldwide Act,” 50% of the votes came in via mobile.
Likewise, mobile engagement is strong on many of MTV’s international series, such as MTV’s hit show, Geordie Shore, which gained more than 16 million fans and followers on Facebook, Twitter and Instagram, with 47% of the show’s Facebook likes in the last six months being gained via mobile.
The huge opportunity for content providers to tap into this increased focus on mobile through apps includes free or paid-for games tied to TV content, which additionally can allow users the chance to make in-app purchases, providing an additional revenue stream.
Likewise, stickers and emoticons themed around TV content have been successfully rolled out on mobile messaging apps, with a SpongeBob Square Pants sticker pack becoming a number one seller in the first week of its sale on the LINE app, which has more than 300 million users.
TV operators are also partnering with mobile providers to offer customers a branded experience. In the case of MTV, this includes an app called ‘Under the Thumb’, which turns phones into a fully functional MTV remote control for a computer or internet-enabled TV, while enabling co-viewing social connections with friends. In case of Nickelodeon, this includes “My Nick Junior” which enables parents to control the type of content consumed by their children across different platforms such as Smart TVs, tablets and smartphones.
For media owners wishing to demonstrate value to advertising partners, the use of these apps is also important – it provides direct feedback on the content consumers love and how they choose to engage with it.
Consumer habits are changing, which means content and distribution models need to change in order to account for increased mobile use and the phenomenon of “living media”. The context that data provides – across multiple platforms – can inform more targeted advertising and improve engagement.
As a result, there are new opportunities available to media owners who respond to viewers’ needs.
