If 2015 is anything to go by TV remains the powerhouse of media channels in terms of ad-spend. Looking into 2016, will we see a change? In brief, probably not. In fact, January has seen strong revenue increases for TV, up 12% year on year.
BARB data shows the average UK viewer watches 3 hours and 37 minutes of TV a day. As ever, TV is showing no signs of becoming irrelevant. With this said, in the age of internet delivered TV, gaining a deeper understanding of how TV is consumed across the now vast array of products is vital in planning and executing a truly holistic campaign.
In recent times, the technological framework that we use to understand TV is changing. These advancements have the power to improve not only our ability to analyse what people are watching but what they are watching it on. Our work in Business Science quantifies some of these inter-relationships. In a project we undertook with Thinkbox 'TV Response: New Rules, New Roles', we identified not just the siloed effects of TV as a media channel at directly driving response, but also the systematic impact at driving consumers to other online and offline media channels, in both the immediate term, short term and long term.
As the technology we use to capture data from TV panels, set top boxes and online TV players becomes more sophisticated, capturing intelligent insights about cross platform consumption could enrich our understanding of how consumers engage with media. A computer chip company is already making practical use of these data platforms engaging in 'Moment Marketing' whereby they are syncing their search and TV campaigns.
This coming year could deliver even more technological progress in the realms of real time measurement of TV. In certain Latin American markets this has become a reality whereby instant feedback is used to generate real-time changes.
Within Business Science it is clear, TV as a traditional media vehicle remains strong and efficient but we know the key to fully understanding TV is beyond the realms of simply its individual impact. Within our econometric projects, we are already picking up the vast interactions of the media landscape for our clients. As the data made available grows, we have to ensure we are getting the most useful metrics to ensure our insights remain relevant. What is certain however, is that TV is and always will be a dominant media channel.
Point of view of Tashan Nicholas, Business Science