COVID-19 has undoubtedly been one of the most disruptive forces we have ever had to deal with.
For the media industry, the disruption has also provided businesses with an opportunity to innovate and develop new solutions for continually evolving consumption patterns.
To recognise the industry’s agility, digital technology company PubMatic has taken an in-depth look at how various media businesses are leading through change – navigating the challenges of COVID-19 with innovation.
For PubMatic, COVID-19 innovation has included the launch of its OpenWrap OTT solution, which aims to help advertisers and broadcasters capture more of the burgeoning CTV market.
“This is a header bidding solution for broadcast video on demand,” said PubMatic regional director for ANZ Peter Barry.
“So this allows publishers to realise the true value of their ad impressions. It allows buyers to target each and every one of the publisher’s users.
“And for consumers, it gives them the true TV-like experience – moving from content to ads, and back to content seamlessly.”
COVID-19 has also provided the company with a number of valuable lessons.
None more so than the need to stay agile alongside its customers, said Barry.
“We’ve learned by navigating these changes that our customer’s businesses are ever-changing and evolving and we need to evolve with their businesses,” he said.
Riding out the tough times
Like virtually every other business, COVID-19 has provided PubMatic with certain challenges.
But these challenges have only reinforced the importance of certain best practices, explained Barry, particularly when it comes to investing back into the business.
“The best practices that we’ve developed that will help our business in the long term are continuing to invest, even during tough times. We’ve also invested in the right areas, so in CTV and OTT.”
For PubMatic, COVID-19 has also provided an opportunity for the technology company to get closer with its buyer and publisher partners.
Barry said the company has provided these businesses with insights where possible “that help them through the tough times”.
Subscription fatigue and the opportunity for BVOD
With social distancing and self isolating two of the biggest buzz phrases to come from 2020, it is little surprise that video subscription services have been one of the ‘winners’ to come from COVID-19.
Services like Netflix, Stan and Amazon Prime have enjoyed a marked increase in subscribers through the pandemic.
According to Barry, however, this won’t last forever.
“I believe subscription fatigue will set in,” he said.
“So you will have people cancelling their subscription services because they have so many of them.”
However, Barry believes this will afford a great opportunity for local BVOD providers here as consumers turn to ad funded video streaming to find the content they want to watch.
“I think this represents a great opportunity for some of the advertising funded video on demand players, especially some of the local Australian ones.”
