Net Insight, the leading provider in media transport and resource scheduling, today reveals its views on how content owners, broadcasters and telcos can discover additional income streams to boost revenues, retain customers and cash in on a new era of true engaging television. With the global uptake of OTT content rising rapidly there are new monetization opportunities that the company’s revolutionary synchronized live OTT solution, Sye, can offer.
In the television world, live content is the major money maker, but existing OTT platforms are not optimized for live, and therefore unable to fully capitalize on the revenue that live content heralds. Current lack of synchronization between screens causes major time delays between content delivered to the first screen compared to the second screen. By harmonizing live content delivery to all screens, great opportunities lie ahead to create a better quality of experience (QoE) and a more engaging live TV experience, opening up the large revenue potential in live OTT.
Research reveals that on average OTT/broadcast viewer spends more than 20 hours per week in front of their screens. Through using Net Insight’s Sye this revenue generational time could increase considerably. Delivering a live feed synchronized across both broadcast TV and OTT streaming means rights holders can provide a harmonized multi-screen experience, showing complementary and more personalized content on the second screen, in sync with the main broadcast feed. This also provides content owners an option to reach out directly to consumers without “cannibalizing” their revenue from existing rights holders. On the contrary, this greatly enhances the overall viewing experience, driving viewers to first screen events while unleashing a new second screen revenue path.
Viewer engagement can also be improved through allowing audiences to choose their own content to watch. Favorite players or drivers can be followed on the second screen, in synch with live linear broadcasts, while opening up the possibility to add live statistics, live real-time recommendations and alternative commentary, as well as real time betting, voting and polling. Also, if a viewer wants to see a second screen point of view camera angle on the first screen, Sye enables them to seamlessly flip between content with a simple swipe. This keeps audiences engaged and provides them with a new type of live viewing experience that is more immersive and one that they are more likely to pay for.
Moreover, the Millennial or the mobile-first generation is driving the churn of linear TV – more than half of this cohort watch OTT services on mobile devices. A more engaging and social TV experience is key to increase their willingness to pay. A synchronized delivery to all screens creates the opportunity for a more integrated social interaction around live events, which also becomes a compelling reason to use an OTT service. This enables viewer communities to be created via social media applications, which can increase customer loyalty, reduce churn and attract new subscribers.
Furthermore, by 2020 annual revenues from online and linear advertising are expected to exceed $266 billion. Creating a stronger second screen experience and thereby a stronger uptake is essential to ‘own’ the second screen and the large potential of a more laser-targeted advertising approach. In addition, a synchronized first and second screen opens up a new advertising model using the second screen for a more targeted offering and directly opens up for viewers to buy products related to first screen commercial content.
“Sye is the only solution on the market providing synchronized live feeds across all media devices enabling an enhanced TV experience, which opens up the market for new service introductions and new ways to monetize content,” said Per Lindgren, SVP of Live OTT at Net Insight. “With the innovative use of second screens and apps that enable social interaction a premium, value add content experience can be created, which takes services to the next level. By keeping audiences engaged throughout an entire live event the opportunities to monetize content are endless.”
A demonstration of Net Insight’s Sye solution will be on display at IBC 2016, with TV content provided by AerNow and Tata Communications. To find out more about how true live OTT can be monetized effectively using Sye, please visit the company’s IBC stand #1.D30.