Snapchat Publishes New Report on the Evolution of Video Consumption
With video consumption behaviors evolving, online platforms are working to find the best way to re-direct TV viewers into their apps and offerings, in order to take a bigger chunk of the $70 billion TV ad market. None of them have been able to crack the code as yet. The idea most seem to be aligning with is that by combining the interactive benefits of social platforms with the entertainment capacity of TV-like content, they can cater to both changing viewer behaviors and the subsequent rise in 'second-screening' - viewers engaging around TV content on social apps.
Twitter has been working on various tools on this front (e.g. choosing a player for the camera to follow in the second half of NBA games), Facebook has been pushing its Watch Party option to enhance immediate interaction (though there are some potential problems with that process), while YouTube has just recently announced that it's experimenting with 'Choose Your Own Adventure' type content.
But what if users are less enamored with the combined capability to view and interact on one platform, and more interested in shorter, shareable episodes which they can consume on-the-go, and still feel as though they're getting the same viewing experience as traditional TV?
That, at least in part, is Snapchat's contention - in a new report from The National Research Group, commissioned by Snap Inc., Snap highlights evolving video consumption trends, and how they relate to Snap's video offerings.
First off, the report notes that live TV viewership is in decline, and has dropped significantly in the past few years.
This is because people are no longer confined to a specific date and time to watch - in the age of Netflix, catch-up viewing, etc., viewers can watch what they want, when they want, meaning that tuning in live is no longer necessary.
The report uses the audience numbers of major TV show episodes as an example of this, with peak audience sizes declining over time.
Original source: https://www.socialmediatoday.com/