Response Media
September 2, 2020 4 years ago
(1)We are living in what will be known as the Golden Era of Streaming. The digital age has delivered an abundance of entertainment options at our fingertips, but nothing has captured attention like the various options for streaming media.
It’s more than just the quarantined masses watching gamers and influencers, listening to a podcast or music, or viewing video content; what sets streaming apart from other digital options is the opportunity for interaction and shared experiences.
A few quick statistics to frame the Golden Era of Streaming:
- In 2019, people watched 1.1. billion hours of live video.
- Video traffic will quadruple by 2022 and will account for 82% of all IP traffic (up from 75% today).
- The industry is estimated to reach $184 billion by 2027. (From 2020 to 2027, the market will expand at a CAGR of 20.4%.)
Streaming has exploded for consumers and CPG brands. By combining the entertainment value of television with the data opportunities of digital, it’s an authentic way to connect with and personalize content for an audience.
Recognizing the power of streaming, many CPG brands are jumping on the bandwagon in significant and notable ways:
- After pausing most marketing due to the coronavirus pandemic, Coca-Cola announced a restart to brand marketing efforts with a new focus on real-time content production and streaming.
- Kroger will integrate data from its newly launched Precision Marketing shopper data division to better target and measure results across the 40 million households in the US that use the Roku streaming service.
- Research conducted by Nielsen Catalina Solutions highlighted that advertising on Spotify was 25% more effective at driving incremental sales per 1,000 impressions than NCS benchmarks.
Consumers view video entertainment as essential—sure, not as essential as toilet paper and bottled water—especially given how much time they’re spending at home due to COVID. Media companies also realize their futures will include streaming; Disney+, HBOMax, and Peacock highlight a movement away from the traditional delivery of programming.
CPG brands must pivot to streaming as a source of reach and engagement and dig into the power and relevancy of various platforms (be it video, gaming, or music). The good news? Streaming is not a choice between branding or direct response. When done correctly, and with the right partners, live streaming offers high impact ad placements at scale combined with targeting based on purchase history, geolocation, online and offline behavior, app interactions, demographics, and in-market signals.
Let’s get streaming!