Internet Of Things Will Dominate The Media Industry: Ernst & Young Report

Internet Of Things Will Dominate The Media Industry: Ernst & Young Report
SHARE
THIS



Thought your mattress knowing if your partner is cheating was going far enough in this Internet of Things malarkey? Turns out we’re not even close yet.

A report from Ernst & Young says the Internet of Things (IoT) – the connection of devices – becoming ubiquitous is inevitable in the near future. The reasons being the data and highly targeted capabilities are too attractive for advertisers to ignore.

“Armed with meaningful insights about consumer behaviours and preferences, M&E [media & entertainment] companies will be able to use data to deliver highly personalised, contextually relevant entertainment experiences to help people re-imagine their experiences on devices they already own,” said Chris Gianutsos, executive director at the media and entertainment advisory services.

“To fully exploit the potential of IoT, there’s also an opportunity to expand to platforms that may not be considered part of the entertainment ecosystem or even exist today…think about having news and information delivered on household appliances or video streaming in self-driving cars. We expect this will dramatically redefine consumer expectations in the near future.”

The use of sensors within IoT devices – think wearables, touches from phones, speech and command recognition – will be the biggest data unlocking potential, says the report, and is what the marketers are frothing over.

Extra data will allow advertisers to target their ads even more to the right people. The report notes extra data will allow advertisers to figure out when and where someone saw an ad, in what context was it successful, and how many times that ad was seen.

“In an IoT world, media companies will be able to understand what a person is watching, as well as measure how, where, why and with whom consumers are viewing content,” said Howard Bass, partner and global media and entertainment advisory leader at E&Y.

“This new level of insight and context provided by smart devices will allow M&E companies to deliver targeted advertising that is relevant to a person’s mood, physical activity or location in real-time. IoT will not only improve the content experience for consumers, but it will also encourage the advertising industry to completely redefine its measure of success.”

However, E&Y recognises marketers can’t just dive in headfirst without sound knowledge of the legal risks, cybersecurity issues and privacy implications.

Gianutsos added, “IoT is both disruptive and inevitable. For M&E companies to be successful, they will have to address risk and quickly innovate to respond to evolving customer needs and deliver rich content experiences. Only then will the M&E industry find real value in its IoT investments.”

 

Latest News

Sugar Agency Wins Fairfax’s ‘Ads Are Better Rich’ Competition For 2018
  • Advertising
  • Media

Sugar Agency Wins Fairfax’s ‘Ads Are Better Rich’ Competition For 2018

Digital player Sugar Agency has been crowned the winner of this year’s ‘Ads Are Better Rich’ competition by Fairfax Media. Launched by Fairfax’s chief revenue officer, Matt Rowley, at the company’s 2018 Agency Symposium, the challenge aims to encourage agencies to push creative boundaries by using rich media formats to develop a campaign that promotes their agency. […]

Former APN Outdoor Sales Boss Launches OOH Consultancy
  • Advertising
  • Media

Former APN Outdoor Sales Boss Launches OOH Consultancy

An ex-sales director from APN Outdoor is trying his hand at consulting to advertisers looking to spend some coin in the out-of-home market. After 13 years at APN leading its national direct sales and then its NSW agency sales teams, Tim Rose resigned from the business in shortly before it had agreed to be sold […]

Melbourne Agency Taska Media Wins Exhibition Events Australia Media Account
  • Media

Melbourne Agency Taska Media Wins Exhibition Events Australia Media Account

Independent media agency Taska Media has secured the entire national media business of Australia’s largest consumer events company Exhibition & Events Australia (EEA). The deal that will see the agency deliver a full suite of television, radio, out of home, digital, partnerships and publisher-focused media buying. The boutique agency said it won the account for EEA […]

US Culture Consultancy Opens Australian Office
  • Marketing

US Culture Consultancy Opens Australian Office

Consulting firm Ministry of Culture (MoC) has announced the expansion of its US-based business to Australia with a new office in Sydney. It is the first international office for the US group, which will focus on providing cultural transformation, consumer insights and culture creation to Australian and Asia-Pacific clients. MoC’s Australian founder, David Art Wales […]