“You guys are all going through this enormous transformation,” said Jennifer Cooper, director of media industry strategy and marketing for Adobe. Cooper spoke at the Adobe Summit marketing conference concluding today in Salt Lake City, Utah, and she was talking to a roomful of television executives. The name of her session was ” Show Me the Money! Growing Revenues and Audiences Through the Digital Transformation Overtaking the Media and Entertainment Industry.” Money was on everyone’s mind.
For traditional broadcasters and cable companies, making money in the online video age is a challenge. In one slide, Cooper showed those networks as swimmers with hungry sharks in the water underneath them. Those sharks were labeled Netflix, Hulu, and Amazon Prime.
There are friction points in the marketplace, Cooper said. There’s a fragmentation of devices, and a shortening of attention spans. Business models are changing. Data and measurement will help broadcasters succeed, she said. That and remembering the 4 Ps of future media:
- Push/Pull: Broadcasters need to push their content to every screen, so that viewers can pull what they want easily.
- Personalization: Serving targeted content is the future, Cooper noted.
- Portability: Over-the-top streaming to every device must be a priority now.
Today’s new audience of young adults watches much—and often all—of their content on devices. Major advertisers are pulling ads from TV, while subscription services (those sharks) are eroding market share, Cooper noted.
To help broadcasters fight those trends, Adobe and Nielsen are working together to create comprehensive Digital Content Ratings, which Online Video.net covered yesterday. The industry needs a comprehensive solution, Cooper noted.
While TV viewing is changing, Cooper assured the audience that having solid data—and the insights to use that data—will show the opportunities.