I was working at a television network when the Internet became a “thing.”
In those early years streaming video wasn’t really a consideration since the technology hadn’t been invented and there was no such thing as broadband in the home. Nevertheless, the seeds of where we are today had been planted and there was a huge threat perceived by my compatriots at the network from the emerging technology.
Fast forward 15 years. Today video streaming is a common part of the media experience and that technology has broadened the potential reach of content services (which is how one needs to think of “broadcasters”) well beyond the living room. Forward-thinking companies embraced this new access to eyeballs while some continue to resist, entrenched in their old business models which are pretty much on their last legs. The way forward is seen in a study released the other day by the Viacom folks. They studied the impact of TV Everywhere which defined as watching full-length TV programs on sites and apps by “authenticating,” or using pay TV log-in information.
The majority of users agree: TV Everywhere is additive to the TV viewing experience. Since they began using TV Everywhere apps and sites, 64% report watching more TV overall. This finding is even stronger among Millennials, with 72% watching more TV. TV Everywhere also increases the value of pay TV subscriptions while strengthening loyalty to pay TV providers and relationships with networks.
A full 98% of users say TVE adds value to their pay TV subscription, with 67% saying it adds “a lot” of value.
The vast majority (93%) is more likely to stay with their provider due to TV Everywhere and 68% have a more favorable impression of networks that offer TVE experiences.
This points out how when we give consumers what they want instead of forcing them to choose an inferior option that may coincide with our business needs but not their appetites, companies do better. Yes, I’m writing that in a way that extends it beyond just TV Everywhere but that’s the point I take away from the data. Do you agree?