We’ve all read the headlines that claim TV is dead or dying. They make for compelling reads, no doubt. But the thing is, those claims don’t hold up. TV is not dead or dying – it’s changing.
Despite the rise of digital channels, linear TV is still a mainstay in our lives (the average American watches close to 4 hours a day!). Not to mention, it remains the core of the media mix for most brands, representing a $212 billion industry.
Last week at Cannes Lions, TVSquared’s CEO, Calum Smeaton, joined executives from Adobe, RTL Adconnect and Nestlé, to discuss this very topic during the “Voyage around the Future of TV” panel.
The consensus: TV is robust and still provides the best means for advertisers to generate scale and reach – without exponential marginal costs – in a way no other medium can. That being said, TV is changing:
- It’s measurable and optimizable: TV has caught up to digital when it comes to measurement, optimization and targeting. With the majority of TV viewers watching with second-screen devices nearby, it’s also evolved into a performance-marketing channel – one that drives not only long-term brand awareness, but also immediate digital response.
- The changing definition of TV: In many ways, the term “TV” is increasingly being used to describe “all things video” – broadcast, cable, SVOD, OTT, etc. As Samuel Rueff of Nestlé said, the industry needs to start thinking of TV as watching video on any device, wherever you are and whenever you want.
- It’s not TV vs. digital, it’s TV AND digital: About 87% of TV viewers watch with second-screen devices, which has led to TV’s “kicker effect.” This means that spots drive consumers to respond immediately via digital. Marketers have an opportunity to make TV and digital work together like never before, especially TV and search.
Learn more about the future of TV and watch panel highlights here: