The shift in media consumption from live programming to on-demand/streaming platforms has given consumers more options and control than ever before. While the majority of viewers choose to watch regularly scheduled programs at their convenience, “marketers have made live media events such as the Super Bowl and Oscars nearly unrivaled opportunities to strike advertising gold”.
Within the past few years, GE has shifted its media strategy to focus on “live sporting events and award shows, as well as zeitgeist moments such as season premiers and finales”. With 92% of their advertising budget spent on live programming, GE has seen nothing but positive results. “Industrywide, live programming over-delivered primetime’s regularly scheduled programs by as much as 416% among 18-49-year-olds in 2015”.
Although some broadcasters haven’t modified their strategies to reflect new audience dynamics, networks like Fox have announced they will only recognize live viewership ratings for live events such as sports. “Overnight ratings aren’t the only metrics that matter and changing the conversation starts with abandoning legacy models of measuring”.
The previous methods of live audience measurement are outdated as the industry works toward the combination of digital and television platforms. Just as media buyers need to rethink their planning, networks also need to reconsider their programming and events that court live viewership. For Direct Response advertisers, this could mean more inventory in other programming at discounted rates.
To learn more, read the Ad Age article here.