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Piano’s CRO Peter Richards is attending the FT Digital Media 2016 Conference today and tomorrow. Peter sent back a few observations.
Video and how publishers are embracing it is the main theme to many of today’s presentations. Peter says that it appears linear (broadcast) TV is being disrupted, with BBC Three going completely online. At the same time Vice TV is entering the UK market. So falling revenues and new competitors are forcing broadcasters to assess their strategies. While many are launching streaming, still 80% are watching TV at the time of broadcast.
Peter also learned that the industry is estimating that 70% of all content on the internet will be video by 2019, a remarkable uptick in only three years. Fitting into the mold (or perhaps breaking the traditional mold), Hearst publishing is experimenting with vertical video on Snapchat.
Digital native Refinery 29 has embraced distributed content having enormous success with Snapchat Discover. They are embracing video as well and could actually become an OTT streaming provider within two years. With a 150M unique users, the ability to create a paid premium product exists. For now they continue to monetize via native content.
You can also check out photos from the conference.
Peter will have some more insights from his time at the conference tomorrow.