As Netflix commits to double production spend in the UK to £500,000 in 2020 and Amazon follows suit too, the giant streamers go even bigger, but what does that mean for traditional broadcasters who were already struggling to compete and can brands take advantage?
Traditional Broadcasters are already feeling the heat from the likes of Hulu and co, but with Studios like Disney, and Social Platforms like Facebook jumping on the bandwagon, and a mass exodus of viewers, the future looks extremely bleak for Traditional TV.
The Giant Streamers not only have the depth of budgets and are picking up large numbers of new subscribers by undercutting Cable and Satellite operators, but they are sweeping up at the industry awards with Oscars and Emmy’s galore.
The Traditional Broadcasters are left wondering what on earth happened in the last 10 years?! But it’s not just the Traditional Broadcasters that are being hit. Brands are losing their prime marketing platform that served them for years. It’s in everyone’s interest (Brands and Broadcasters) that Traditional Channels not only survive but thrive, and to do that Brands and Broadcasters need to join forces.
Pioneering Media Agencies are already on the case and starting to work with Broadcasters differently. They are negotiating prime media margins while underwriting original productions, providing the Broadcaster budget for content and the Media Agency more favourable rates. It’s a win-win. But how can we maximise this and take it further?
As with all industry declines, it’s a perfect time for disrupters and changing how we do things. It’s time to be brave. And brands need to really push themselves beyond their comfort zones if they want to survive. With the help of very specialist agencies – which is absolutely key - Brands can use their media agencies to partner Broadcasters in very unique ways to create incredible marketing campaigns using film and TV as their platform. They can part-own the productions that share and bring to life their values. What’s more, the brands have ownership of all the marketing assets including talent, clips and photography. Ultimately, they help fund the Broadcasters new content but crucially they help to market it too.
Brands can not only save themselves but can save Traditional Broadcasters as well as the medium of TV advertising – but they need to be bold and open to take risks. This is not the time to play safe or mull things over. Time is critical where boldness wins.
By Aimee Anderson, Director at AAA