Himanshu M Sharma , Executive Producer & Director , Joker Films Pvt. Ltd.
The need for accuracy is no longer as important as the willingness to do whatever is necessary to attract the eyeballs.
Media has changed intensely from the business it has in the year 2000 and that change is accelerating rapidly. It is going to impact everyone, because we all are consumers of media, altering what we consume and how we consume it.It will change the role, placement and form of advertising as the platforms shift dramatically. It is been over a decade since the Internet transformed media. Very quickly, web has taken over print in disseminating the news and so the ability of its advertisers to reach to its consumers, making Internet ads far cheaper and appealing to advertisers.
The year 2016 witnessed some major shifts in the broadcast and media industry. Apparently, the mobile operators are providing seamless unlimited data access to its consumers, entertainment shifts from television to video on demand and web series gaining popularity over traditional content. The younger generation has been observed, leading to movement of TV audience to digital platform with the increase in the popularity of streaming services like Amazon Prime and Netflix. Here are a few few trends that are going to help to help in this lateral shift.
Adoption of over-the-top (OTT) content. Today if we look around, the reports estimates that video will account 70 percent of the mobile traffic and 50 percent adults under the age of 32 will not pay for TV. The streaming services are gaining access to new originals as well as libraries of TV shows and movies as more and more entertainment companies are selling their content to these services. And with viewers consuming content across devices anytime and anywhere, OTT seems the next big trend in the coming years with their advertising free environment.
Huge data analysis. In today's era, it is important to understand the nature of content consumption and deliver accordingly. The data analytics will not only help the broadcasters analyze viewer preference but it will also change the advertising principles in the industry, By measuring watching content more accurately, companies can help advertisers package the right kind of experience to cater to different type of viewers.
HD production. The streaming data broadcasters are streaming in 4K format and will continue to do so, so that the TV watchers would jump to the higher resolution standard.
Viewer centric content. With the viewers enabled to choose the content, the creators need to find more innovative ways to monetize that not only attract viewers but also create repeat viewers.
Virtual reality as mainstream. The gaining popularity of applications like PokemonGo, virtual reality is going to reshape the face of the broadcast industry. By promoting shared moments and creating a shared spacewhere people can share experiences, virtual reality will gain momentum.
There is also a drawback that cannot be ignored, i.e. the rising trend of bad-fake broadcast. These days anybody without credentials can create their own content on their website and begin publishing anything they want. The need for accuracy is no longer as important as the willingness to do whatever is necessary to attract the eyeballs. Learning how to go viral with a click-bait keywords and phrases became more critical than facts checking.Because programs buy ads, the advertiser is no longer linked to the content or the publisher, leaving the world awash in an ocean of statements – some accurate and some not.
A major chunk of Internet users in India have access to unlicensed content, which is available for free. The content, when charged, is being avoided by the users. This leads to the problem of monetization of the industry. Users are unwilling to pay for what they use. A change towards the pay-and-use system, therefore, requires a drastic behavioral change within the people who like everything free. Once these two problems are tackled, we shall probably be in an even better and sustainable position in the development and growth of this industry.