Unintended Consequences or New Opportunities 

The ramifications of the recently resolved WGA strike and the ongoing SAG-AFTRA strike in Hollywood are still unknown, but if past performance is an indicator of future outcomes we can anticipate some shifts across the media landscape. The last writer’s strike is credited with the rise in unscripted “reality” TV. It is a certainty that any disruption, whether that is a global pandemic or changing consumer habits, will reshape the business of video distribution and what, where and how consumers will get their entertainment fix. The speed of change is only getting faster. 

Currently, broadcasters and streamers are still distributing new ‘originals’, series and films – all of which had completed production before each strike commenced. The real impact of the strikes is estimated to hit in the coming months. With that in mind, we had a chat with our Content Data Editor, Simon Whitlock, about what might emerge or change as a result of these strikes and other market disruptions. The bottom line is that there are multiple opportunities for broadcasters, Pay TV providers and streaming services to continue meeting audience demand and react quickly to change.

• FAST will grow faster. Discussions about the value of FAST channels have dominated industry webinars and analyst predictions. Given that most FAST channels leverage existing archives to create genre-based channels, FAST will only become more dominant. A recent LG Ads Solutions report shows that 75% of consumers use a free streaming service. Additionally, 80% of viewers have a ‘comfort’ TV show that they watch frequently. FAST channels are a perfect fit for consumers seeking familiar content delivered in a cost-effective manner. We are only wondering when soap operas will join the fray as they represent decades of content with a built-in fan base attracted to favorite actors and plot lines.

• Gaming will occupy more shelf space – particularly at Pay TV providers and streaming services. Multiple industry analysts have highlighted the preference of those under the age of 30 to spend more time gaming than watching TV. With this in mind, Netflix has recently announced its commitment to making its games available via smart TVs or on PC/Mac via netflix.com. A Gameopedia survey reflects the importance of genre, critic reviews and user ratings when it comes to discovery and engagement. While it is still early days for Netflix and gaming, a related avenue to consider is that of eSports and the appeal of watching others play competitive video games. Could this represent a new genre of programming? With the ongoing investment in eSports, the popularity of a series focused on the most popular competitive online games could attract a new segment of viewers. 

• Short-form video takes market share away from professional content. While social content and UGC may not garner the respect of professionally produced content, the numbers speak for themselves. Short-form video content has exploded in popularity in recent years, with platforms such as TikTok and Instagram Reels leading the way. Users are increasingly creating and consuming bite-sized video content, with viewers watching 1,346Bn minutes of content on Twitch in 2022 (according to Statista). With decreasing attention spans and the potential delay of new professional content being produced , sites such as YouTube and others will have to “up their game” when it comes to descriptive metadata enabling better search and discovery.
  
• Documentaries widen audience appeal with their ability to tell compelling stories based on real-life events and experiences. The increase in popularity of documentaries has resulted in a 5.47% CAGR from 2022-2030. Media conglomerates such as WBD, BBC and Walt Disney are investing cautiously with an eye towards managing costs, but recognizing that “true crime” and reality-centric genres are attracting both investment and viewership. Thanks to streaming providers such as Amazon, Netflix and Hulu documentaries are more accessible. This has influenced other streaming providers (e.g.,  Roku, Tubi, Peacock) to increase their acquisition of documentary content. 
  
  Documentary writers and actors are not bound by the same contracts that have been the subject of the WGA and SAG-AFTRA strikes. These films and shows will therefore have had something of a head-start on other productions that were halted by the strikes, and may experience growth similar to that seen during the pandemic. The definition of genres and subgenres is particularly critical for facilitating consumer discovery, due to less consumer familiarity with titles or producers.

The common denominator for each of these content categories is availability. Content aggregators will be seeking alternatives even if most streaming providers have more content than the average consumer could view in their lifetime. The winning strategy will continue to be one of providing content that aligns with consumer interests. Metadata is the key to content discovery. When it comes to the categories noted above, each has its nuance as to the metadata most important to consumers. Service providers will have to understand which metadata fields are critical and adapt their metadata strategies accordingly. 

Active metadata management gives video service providers the agility to modify data sources, data schemas and automated processes –  all of which combine to improve data management, streamline operations and drive ongoing monetisation. MetaBroadcast has been helping its customers organise, unify and cleanse descriptive metadata for over 10 years.

Let’s talk about how our technology can help you and your viewers enjoy the content most relevant to them. Contact us at hello@metabroadcast.com