What's Happening?
The TV-video landscape in the UK, including linear broadcast TV, Connected TV (CTV), and digital video platforms, is experiencing significant disruption. A notable shift in audience behavior has been observed, with a decline in traditional broadcast TV viewership among 16- to 24-year-olds from 95% in 2018 to 48% in 2024. Despite this, the TV screen remains relevant, as this demographic continues to consume an average of 93 minutes of video content daily across various connected platforms. The industry's planning and buying strategies have not adapted to these changes, relying on outdated tools that lack the agility and precision needed in today's fragmented environment. This issue is particularly pronounced in the UK due to a lack of collaboration among broadcasters, leading to disparate systems and methodologies.
Why It's Important?
The shift in audience behavior highlights the need for the TV industry to adapt its strategies to remain competitive. As digital platforms like Meta and Google offer seamless, data-rich environments, traditional broadcasters risk losing market share if they do not innovate. This disruption could lead to significant changes in advertising strategies, with a potential increase in investment in digital platforms. Advertisers and broadcasters who fail to adapt may face decreased effectiveness and reach, impacting revenue and market positioning. The industry's ability to integrate cross-platform planning and measurement will be crucial in maintaining relevance and competitiveness.
What's Next?
Broadcasters may need to develop collaborative frameworks to streamline cross-platform planning and measurement. This could involve adopting new technologies and methodologies to enhance transparency and accountability. Advertisers might shift their focus to digital platforms, requiring broadcasters to innovate and offer competitive solutions. The industry could see increased partnerships and mergers to consolidate resources and expertise, aiming to provide a unified approach to video planning and buying.
