Subject: SVY
VAB Unveils New Research and Guidance on the Growth Drivers of Streaming Video
?Report Outlines New Data On Consumers' Streaming Behaviors and Preferences?
NEW YORK, April 9, 2024 /PRNewswire/ -- The Video Advertising Bureau (VAB) today released Recipe for Success: Six Key Ingredients For Stirring Growth in Streaming. Featuring supporting data and analysis compiled from year-long custom research, the report provides timely guidance to platforms and marketers, outlining how to achieve growth, scaling and success in the streaming video landscape.
"Streaming is like a recipe that's constantly being refined by a chef. With new and expanded tiers, offerings and services, consumers are ordering choice, flexibility and engagement - all of which have become table stakes today," said Danielle DeLauro, Executive Vice President, VAB. "The platforms achieving the greatest success in this landscape are those leaning into live events, interactive ads and more diverse programming, which are the elements paving the way for growth and attracting marketers looking to drive business at scale".
The six ingredients for stirring growth in streaming are High-Quality Content, Engagement, Diversified Content Offerings, Loyalty & Retention, Cross-Platform Content Discovery and Innovative Ad Experiences. Insights and supporting data include:
- Consumers are looking for value through an abundance of content: 58% of viewers say exclusive content majorly or moderately impacts their likelihood of subscribing to a streaming service.
- Choice and flexibility are a priority: Choice is important to viewers who appreciate the ability to either access all episodes on their own time or follow a weekly release ritual.
- Live sports and women's sports are key growth drivers: 55% of viewers have streamed live sports. Further, 42% of females have streamed sports in the last 12 months.
- Interactive ads capitalize on viewers' inherent curiosity: Nontraditional ad units drive engagement, as 51% of viewers have taken some sort of action after seeing a pause ad.
The data in the report is VAB custom research fielded by Hub Entertainment.
ABOUT VAB
The Video Advertising Bureau (VAB)?whose members include the national TV networks alongside a broader community of influential media companies?plays a dual role in the video advertising industry. VAB is fiercely advocating for the changes that bring about a more innovative and transparent marketplace. VAB also provides the insights and thought leadership that enables marketers to develop business-driving marketing strategies. Visit VAB online and access its continuously growing content library at thevab.com.
Contact:
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SOURCE VAB
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