LONDON—We are in the final days of 2019, so what does the next year hold for the media industry? According to data insight and consultancy company Kantar, 2020 will bring about a “digital paradox” in the media industry.
Based off its “2020 Media Trends & Predictions” report, Kantar the ever increasing number of digital touchpoints, marketers and media owners will find it more difficult to connect with consumers. Among the contributing factors it goes into detail on are streaming, 5G and eSports.
Just in the last month consumers were given two new streaming services, Apple TV+ and Disney+. 2020 is set to see more with the debuts of HBOMax and Peacock. Local TV players are also beginning to create their own subscription-based services. However, all of this increased competition could create subscriber fatigue.
“We predict that the future of TV in 2020 and beyond will be the continued convergence of TV, including online streaming and video, with high-quality content at its heart,” wrote Sushmita Jain of Kantar. “Consumers will continue to use advertiser-funded and subscription-based services, but the ever-increasing amount of available content and platforms will lead to a paradox of choice; more is not always better. Overwhelmed consumers will become more discerning and focus their time on services with algorithms that provide the greatest enjoyment.”
In terms of 5G, consumers and companies are excited about the possibility. There are already 10 million 5G subscribers in China, which along with other markets with 5G (as of 2019 the U.S., U.K. and South Korea) are expected to see strong growth in the coming years. The rise of 5G will offer things like improved streaming without a Wi-Fi connection and support of IoT devices.
“However, there are also challenges,” said Kantar’s Paul Cha. “More devices mean there will be even more fragmented datasets to be integrated and consolidated, in order to gain a holistic consumer view for marketers.
“While 5G brings many more opportunities for marketers, it also means significant transformation, which isn’t going to be easy.”
Other points of interest covered in Kantar’s report include the rising popularity of eSports, shopvertising, audio advertising and the upcoming 2020 elections.
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