The amount of content being consumed globally is staggering and continues to rise exponentially. For example, the global average spent watching or streaming video content in 2016 was 4 hours a day and millennials are viewing more than 51% of content on mobile devices. Where mobile has traditionally been used as a second screen, it’s rapidly becoming the primary screen, especially with younger generations (Click to Tweet). In this month’s “Insights On” blog post, I asked our portfolio companies Beamr and Civis Analytics to share their thoughts on how mobile is redefining the ways people consume content and interact with one another.
Wireless Connectivity Paving the Way
"Without a doubt, we’re seeing a significant change in how people are getting and consuming content. Ten years ago the content distribution model started to change - networks were willing to put up hours on VOD, participate in services like Hulu, or host long-form content on their websites. Today, content consumption is accelerating at a rate faster than anyone predicted. Users aren't necessarily cutting the cord in droves, but there has been a slow decline in user access points.
Wireless connectivity and mobile devices, which provide the consumer more power and more content hours than ever before, have contributed to the increase in content consumption. To think that no one has to watch re-runs anymore is such a drastic shift not only for consumers but also for those who make content and use content to advertise. It's even more important that those advertisers use data to understand where people consume content and ultimately reach the right people."
- Peter Bouchard, VP of Media Sciences at Civis Analytics
Better Quality = Satisfied Consumers
“As mobile devices surpass traditional computing platforms in both processing and rendering power, the consumer expectation for video on phones and tablets has grown significantly (Click to Tweet). As a result, the mobile phone is no longer solely for short-form video. Consumers are increasingly watching TV episodes and full-length movies on their phones. This trend is shaping the personalized viewing experience that fits perfectly with OTT distribution, where each stream has the ability to be unique.”
- Mark Donnigan, VP of Marketing at Beamr
Mobile devices enable content to be delivered at any place at any time, which increases the need for network bandwidth management and optimization. These devices are also synonymous with social and interactivity, so as these devices become first screen, we are going to see more interactions and connections between viewers, content owners and brands. As a result, we’ll see the emergence of new types of content (like VR), new ways to conduct ecommerce and marketing (such as clickable items that lead to purchasing), and new ways to communicate (including chatbots and AI). We’re looking forward to watching these innovations unfold in the coming year and we look forward to partnering with leaders in the space.