In this edition of Mobile Monday, we’re taking a look at some of the latest media and consumer trends data to understand what the growth of video & games coupled with long-form & short-form video preferences mean for news outlets seeking to monetize consumers on mobile.
Games & Video Continue to Grow
According to the latest finding from PwC’s Global Entertainment and Media Outlook, global entertainment & media will have mixed growth over the next few years. In particular, while growth will be lead by digital video, digital advertising, and video games, more traditional channels — print formats, television, and radio — are all expected to decline through 2021.
News Outlets Struggle
Admittedly, the decline in traditional newspapers cited by PwC in the above chart isn’t the most surprising. After all, consumers are increasingly turning to digital channels. However, even video-savvy news outlets are struggling to find the balance between short-form video, long-form video, and text.
While monetizing long-form videos with preroll video ads is relatively well accepted and provides a monetization method that’s showing strong growth, the Reuters Institute Digital News Report indicates that consumers would much rather watch short-form news videos than long-form versions. As such, the ideal monetization methods for short-form news — as well as how these videos are cut & told in the first place — merits serious review.
Seeking Long-Form Entertainment
For instance, while users shy away from long-form news videos, they’re flocking to longer form video entertainment on their mobile & other connected devices.
Indeed, users spend more time watching long-form content than short-form, yet they are disinclined to watch the news in the same way. Indeed, many users expressed that they’d rather read a quick article than watch a longer video on the same topic, as the article offers a more time-efficient means of information consumption.
This suggests that if news outlets are to capitalize on the impressive CAGR expected in video advertising, they must find ways to make longer form videos faster paced & more entertaining while also better connecting series of related short-form news clips into one cohesive experience.
In this way, the easily monetized long-form stories will become more palatable to modern consumption preferences while the short-form stories will become better packaged for ads, a necessity for the 84% of consumers who won’t pay for the news.
About AdColony Mobile Mondays
Mobile Monday examines the latest news, trends, and developments in mobile apps, tech, and advertising. Do you have a story to share for the next Mobile Monday? Tweet it to @AdColony. For the latest AdColony mobile news and updates, follow @AdColony on Twitter, like us on Facebook, or connect on Linkedin.