By Gary Mittman, KERV Interactive
The rise of Subscription Fatigue has dealt a blow to the once-stratospheric growth of streaming services. The overwhelming number of subscription options, multiple tiers, and increasing costs have left consumers disenchanted and investors skeptical. Layoffs have become a short-term solution, but the industry needs a more sustainable approach to regain public and Wall Street confidence.
Traditional ads or raising monthly subscription fees are not viable options in this climate. Instead, the market must explore innovative solutions to attract advertising revenue without disrupting the viewing experience. In-show monetization, a nascent but promising concept, presents a solution that benefits both streamers and viewers.
Using artificial intelligence and machine learning, in-show monetization analyzes visual content in real-time, identifying products, locations, and other variables within shows. This technology allows viewers to engage with products they see on-screen, making purchases or obtaining more information instantly. For example, fans can click to buy the cooking tools used by their favorite chef or the jacket donned by John Dutton in Yellowstone.
By opting into this non-intrusive shopping experience, viewers actively participate in a personalized, user-curated journey that blurs the lines between entertainment and commerce. It enhances their engagement levels and enables them to discover new products and locations while emulating the lifestyles of their favorite personalities.
In-show monetization not only benefits consumers but also streamers and brands. It provides additional monetization opportunities for streamers and helps brands generate more sales. Some programmers, like NBCUniversal, have already made strides in developing shoppable content, and social video platforms such as YouTube and TikTok have introduced live shopping features.
While the industry is still in the early stages of testing these shopping features, the potential to invigorate the streaming video industry, particularly among younger viewers, is evident. Privacy concerns are addressed, as the technology relies solely on content-related relevance without capturing personal data. However, revenue arrangements with content creators and talent and the ongoing reliance on monthly subscriber fees poses challenges that must be addressed.
As Subscription Fatigue continues to challenge the streaming industry, solutions like in-show monetization can enhance the viewer experience and generate new revenue streams. By leveraging cutting-edge technology, this approach brings value to streamers, brands, and viewers, fostering a more personalized and mutually beneficial streaming experience.
Although still in its early stages, in-show monetization holds the potential to reshape the future of streaming and redefine how we consume and interact with video content. As programmers and brands embrace this technology, its evolution promises to revolutionize the industry.
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