资源描述
Q2 2019 PARTNERING FOR SUCCESS IN PREMIUM VIDEOCONTENTS Summary 3 Core Observations: U.S. 5 Core Observations: Europe 16 Author Bios 31 Glossary and Sources 32 PARTNERING FOR SUCCESS IN PREMIUM VIDEO Q2 2019 Video Marketplace Report The FreeWheel Video Marketplace Report highlights the changing dynamics of how enterprise-class content owners and distributors are monetizing premium digital video content. The data set used for this report is one of the largest available on the usage and monetization of professional, rights-managed video content worldwide, and is based off of census-level advertising data collected through the FreeWheel platform. CONTENTS 2 SUMMARY PARTNERSHIPS DRIVE DATA-ENABLED BUYING AT SCALE “Advertisers want to use television as a full-funnel solution that marries the best of traditional television with increased data-driven capabilities for targeting and measurement” said David Kline, Executive Vice President, Charter Communications, in a quote issued during Cannes Lions 2019 as part of Comcast Advertisings On Addressability kick off. This articulates the value proposition of premium video as its full-range of capabilities become available to advertisers. However, for premium video to realize its full-funnel potential, industry players must work to deliver against three main promises: 1. Scale: Content that reaches a broad set of viewers wherever and whenever they watch 2. Sophistication: Technology to match viewers with data, dynamically insert advertising, and measure delivery 3. Simplicity: Easy to access and execute transaction channels that reduce friction for media buyers and sellers Scale - Building Interoperability In the first half of 2019, players across the premium video ecosystem partnered to help advance televisions data-enabled future. These industry initiatives seek to promote interoperability and limit walled gardens and silos. As an example, the U.S.-based smart TV company VIZIO spearheaded “Project OAR” (Open Addressable Ready), a consortium dedicated to the development of new standards for addressable advertising on connected TVs (CTVs) 1 . At launch, participants included Disney Media Networks, Turner, Xandr, FreeWheel, NBCUniversal (NBCU), CBS, Discovery, Hearst Television, AMC Networks and Inscape. The consortium is designed to benefit audiences and marketers alike. “Through Project OAR,. we will combine relevance with reach to deliver a better experience to our viewers and better ROI for our advertisers,” said Mike Dean, Senior Vice President, Advanced Advertising and Automation at CBS. Sophistication - Laying the Technical Foundation At this years Cannes Lions festival, Comcast Advertising, with the support of Charter and Cox, announced On Addressability, an industry-wide initiative to bring greater addressability to the TV industry 2 , delivering a sound, scalable and effective solution for marketers. While achieving full addressability will involve a variety of players, the first step for On Addressability is to help content distributors with the technical “how to” of enabling addressability. Simplicity - Unifying Audiences NCC Media and OpenAP entered into an agreement to allow National TV advertisers to tap into the advanced audience segment definitions of OpenAP across the 85 million households available through NCC Media. In a joint statement, NCC Media and OpenAP noted 3 , “This initiative is the first of several new data and measurement programs the two companies are developing to support a more open ecosystem for comprehensive TV buying.” SUMMARY 3 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR THE POWER OF PREMIUM VIDEO Interoperability in the premium video ecosystem is accelerating and delivering scale, sophistication and simplicity for both buyers and sellers. SOPHISTICATION SCALE SIMPLICITY- Total premium video ad view growth of 27 %YOY- Distributor platforms delivered 61 %of all impressions with 77 %of these on IP-enabled platforms- STB DAI inventory represents 14 %of premium video inventory Industry partnerships are working to unify disparate inventory sources across platforms and sales channels so advertisers can access unprecedented scale. Much of the growth has been driven by increased capabilities enabled on distributor IP platforms. As reach becomes unified, enhanced use of data is driving advancements in targeting, measurement and attribution. Audience targeted campaigns that deliver to unique users, households or devices are becoming increasingly prevalent. The technology and infrastructure to use automation to facilitate TV ad-buying is in place and programmatic transaction now account for 19% of all ad views, reflecting 45% growth year-over-year.- CTV represents 55 %of premium video dynamic ad insertion (DAI) inventory and grew 48 %YOY- Audience targeted ad views grew 82 %YOY and 62 %of these impressions were behaviorally targeted audiences (e.g., auto intenders or sports enthusiasts)- Programmatic transactions accounted for 19 %of impressions- Premium video completion rates remain high, ranging from 85 %to 100 % Note: All data presented here is from the FreeWheel Video Marketplace Report U.S. data set and relates to Q2 2019 data 4 Q2 2019 CORE OBSERVATIONS: U.S. The Most Definitive Data Available on Premium VideoCHART 1 VIDEO AD VIEW AND AD VIEW GROWTH, U.S. Q2 2018 vs. Q2 2019 .full-episode content remains the most widely-consumed segment, constituting 55% of total ad views. In Q2 2019, video views grew by 13% and ad views grew by 27%, compared to Q2 2018. All formats experienced growth, but full-episode content remains the most widely-consumed segment, constituting 55% of total ad views. As evidenced by a series of recent announcements, the space will only continue to grow. For example, Disney+ and HBO Max (from AT&T) plan to launch in Q4 2019 and Q2 2020 respectively, both with large catalogs of content. Apple TV+ is expected to launch this fall with a greater emphasis on original content 4 . NBCU is also set to offer a direct- to-consumer streaming service in 2020 and, unlike the offerings from Disney and AT&T, NBCUs service is set to be ad-supported and free for existing cable subscribers. CONTENT FULL-EPISODE ENTERTAINMENT OFFERS CONSUMERS MORE CHOICE THAN EVER BEFORE +13 % VIDEO VIEWS +27 % AD VIEWS CORE OBSERVATIONS: U.S. |CONTENT CLICK TO TWEET 6 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR CHART 2 CONTENT COMPOSITION BY FORMAT, U.S. Q2 2018 vs. Q2 2019 CORE OBSERVATIONS: U.S. |CONTENT CONTENT LIVE PREMIUM VIDEO GROWS, BUT SLOWER THAN LAST YEAR Dynamic Ad Insertion (DAI) into live content was a defining trend in 2018, with tentpole sporting events like the PyeongChang 2018 Olympic Winter Games and Mens FIFA World Cup serving as a showcase for live insertion technology at scale. This year, live continues to grow, albeit at a more moderate pace, at 44% in Q2 2019, compared to a growth rate of 90% in Q2 2018. Clips constituted 7% of ad views in Q2, a 9% growth year-over-year. Although total content ad views increased by 27%, clip ad view growth was minimal. This is, in part, because content owners and distributors choose to limit clip ad exposure to help drive user engagement for their long-form content. Q2 2019 CLIPS (0-5MIN.) FULL-EPISODES (5+ MIN.) LIVE 38 % 55 % 7 % +44% YOY +19% YOY +9% YOY Q2 2018 33 % 56 % 11 % CLICK TO TWEET 7 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR CHART 3 SHARE AND GROWTH OF AUDIENCE TARGETED* AD VIEWS, U.S. Q2 2019 Content Targeted +23% YOY 93 % 7 % Audience Targeted +82% YOY With the right technology, data management processes, and business agreements in place, demand for data-backed audience targeting has rapidly increased. FreeWheel data shows that campaigns using audience attributes to target users, devices or households grew 82% in Q2 2019, compared to the year prior - more than three times faster than content targeted campaigns. A wide spectrum of advertisers utilize this approach, with both the Entertainment & Media and Auto industries indexing higher for audience-targeted campaigns than for content- targeted campaigns. Industry groups also contribute to the increased demand for audience buys. For example, consortiums like OpenAP are creating standardized segments to make audience buying easier. Still, there is a continuing need for the supply side to support a “bring-your-own-data” approach so advertisers and agencies can activate bespoke lists. As addressability scales, the safe and efficient access to data between advertisers, programmers and distributors will remain a key consideration. Blockgraph, a technology currently incubated under FreeWheel can facilitate secure audience matching over a peer-to-peer platform 5 , and is again an industry-focused initiative, with participation from multi-video programming distributors (MVPDs), TV networks, agencies and advertisers. TARGETING AUDIENCE TARGETING COMES TO PREMIUM VIDEO CORE OBSERVATIONS: U.S. |TARGETING *Audience targeted campaigns are those that use unique identifiers to deliver ads to specific devices, households, or users. CLICK TO TWEET 8 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR CHART 4 AUDIENCE SEGMENT TYPE SHARE OF TARGETED CAMPAIGNS, U.S. Q2 2019 Audience Segment Type* All Campaigns vs. Audience Targeted 14 % 20 % AUDIENCE TARGETED CAMPAIGNS ALL CAMPAIGNS Entertainment & Media Auto CORE OBSERVATIONS: U.S. |DEVICES Behavioral Demo 38 % 62 % Entertainment and Media companies index higher on audience targeted campaigns as publishers use their own inventory to trial data-enabled campaigns. The Auto industry values targeting vehicle intender groups. Given the high purchase value of the product there is significant upside to pushing consumers through the bottom of the purchase funnel. 11 % 17 % *Demo audience segment types are those that target based on age and gender Behavioral audience segment types are those that target more advanced segments such as auto intenders, sports enthusiasts etc. CLICK TO TWEET 9 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR Connected TV (CTV) drove the bulk of premium video ad view growth in the second quarter of 2019, growing 48% compared to last year and now representing 55% of the total market. When combined with ad views from DAI-enabled set-top boxes (STBs), more than two-thirds of all ad views are on “the big screen.” In contrast, mobile-app was the most versatile video consumption device in Q2 2019, with viewers using the “TV in their pocket” to consume live (32%), full-episode (55%) and short-form (13%) content on mobile apps. Mobile web-based ad views, while a small proportion of total mobile ad views, skew heavily towards short-form viewing (clips), which also constituted 11% of total ad views on desktop devices. Desktop has a higher proportion of ad views during the working hours, which are more conducive to live and short-form content consumption for most people. This aligns with the daypart viewing data presented in the Q4 2018 Video Marketplace Report. CHART 5 AD VIEW COMPOSITION AND GROWTH, BY DEVICE, U.S. Q2 2019 -2 % YOY Desktop +48 % YOY CTV +3 % YOY Mobile +3 % YOY STB VOD DEVICES CTV DRIVES THE GROWTH OF PREMIUM VIDEO .growing 48% compared to last year and now representing 55% of the total market. 14 % 55 % 17 % 14 % CLICK TO TWEET 10 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR CORE OBSERVATIONS: U.S. |DEVICES CLIPS (0-5MIN.) FULL-EPISODES (5+ MIN.) LIVE CHART 6 FORMAT COMPOSITION BY DEVICE, AD VIEWS, U.S. Q2 2019 STB VOD 100 % Desktop 11 % 45 % 44 % Mobile Web 60 % 21 % 19 % Mobile App 13 % 55 % 32 % Connected TV 3 % 50 % 47 % CLICK TO TWEET 11 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR 11 DISTRIBUTION IP-ENABLED DISTRIBUTOR PLATFORMS CONTINUE TO SCALE In the first half of the year, premium video ad views grew faster on distributor platforms than publisher-owned and operated properties, at 46% and 2%, respectively. Two-thirds of these distributed ad views were on digital/IP-based platforms, while one-third took place on MVPD STB inventory that is DAI enabled. In Q2 2019, STB ad views remained flat, growing just 3% year-over-year. Set-top box video on-demand (STB VOD) inventory increased rapidly from 2015 to 2017, as MVPDs introduced new DAI capabilities. During that period, ad view share on STB VOD increased from 0% to 20%. As consumers have begun to view video content in additional ways, the growth of STB VOD inventory has moderated, with an increase of 3% in 2019, compared to the prior year. CHART 7 SHARE AND GROWTH OF AD VIEWS BY SYNDICATION PLATFORM, U.S. Q2 2019 Publisher Platforms +2% YOY Distributor Platforms +46% YOY 39 % 61 % Total Volume of Ad Views, U.S. Distributor Platform 23 % 77 % +3% YOY +64% YOY STB DIGITAL / IP CORE OBSERVATIONS: U.S. |DISTRIBUTION CLICK TO TWEET 1 2 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR TRANSACTION TYPE ALTHOUGH THE MARKET ACKNOWLEDGES A MORE PROGRAMMATIC FUTURE, DIRECT DEALS DOMINATE Advertisers and agencies continue to use traditional channels to book direct deals for premium video, which accounted for 81% of total ad views in Q2 2019. However, programmatic channels are growing faster, at a rate of 45% compared to direct deals growth of 23% year-over-year. In todays market, the majority of programmatic deals are still negotiated privately, suggesting that many buyers and sellers are not yet ready to give up on the direct relationship even if its executed through automated channels. Both the buy and sell sides foresee premium video buying becoming more automated, but scaling programmatic transactions will require greater alignment on the benefits of automation between buyers, sellers and technology platforms. CHART 8 SHARE AND GROWTH OF DIRECT AND INDIRECT DEALS, AD VIEWS U.S. Q2 2019 Indirect +45% YOY Direct +23% YOY 19 % 81 % Total Volume of Ad Views, U.S. 87% Programmatic Direct 13% Exchange Ad View Share by Programmatic Transaction Model* *Based on a smaller sample set of data CORE OBSERVATIONS: U.S. |TRANSACTION TYPE CLICK TO TWEET 13 Q2 2019 / FREEWHEEL VMR / #FreeWheelVMR AD EXPERIENCE PREMIUM VIDEO DISTINGUISHES ITSELF WITH HIGH COMPLETION RATES Premium video continues to deliver a positive viewing experience. In Q2 2019, the average mid-roll break contained 3.9 ads, with each break averaging a duration of 109 seconds. This experience is relatively consistent across devices. STB VOD and mobile index slightly lower than CTV and desktop, which may be due to specific ad strategies from certain publishers and distributors, particularly for mobile platforms. The distribution of ad loads is relatively narrow around the average of 3.9 ads per midroll, with 67% of mid-rolls containing three or four ads.
展开阅读全文