Magid

Consulting firm Magid today offered predictions for the entertainment industry, and streaming in particular, in 2024. It predicted increased churn among the major streamers as FAST channels proliferate and the monthly price for a subscription to a premium streaming network goes up.

Executives from CBS, NBCU, CBC, Magid and Graham Media discussed the pros and cons of gathering and using data to attract and retain viewers during TVNewsCheck’s TV2025 last week at NAB New York. Above, l-r: Graham Media’s Dustin Block, Voice Interaction’s Joao Neto, Magid’s Bill Hague, MNCU’ Shawn Makhijhani, CBC’s Roma Kojima and CBS’s Radha Subramanyam.

If just one journalist from a local news source is not trusted, audiences are overwhelmingly less likely to use the source overall. That is one of several takeaways from a groundbreaking fact-finding research project the Radio Television Digital News Association conducted with Magid. According to the study, 60% of local news viewers are in “strong agreement” that one journalist can compel people to tune out. But that was one of several factors that have a big impact on trust in local news.

The NextGen TV ad campaign during the 2021 holiday season increased consumer awareness and intent to purchase NextGen TV sets according to Magid.

Broadcaster spots from the Pearl TV consortium promoting the ATSC 3.0 advanced broadcast TV transmission standard have drawn consumer interest, according to a Magid survey, including over better sound, which has become a major differentiator. The study found that a majority of respondents (60%) said they were “likely“ to purchase a TV set with NextGen TV technology within the next year after seeing the Pearl TV spots promoting NextGen TV.

Latest research also shows added features are strong differentiators for manufacturers and retailers.

Research firm Magid says advertisers now plan to pull back on their broadcasting buys by 36% this year as they aggressively hoard cash. To curb the crisis, Magid says account executives need to fully understand their advertisers’ business so that they can advise them how to market — and how to use TV — through the pandemic.

To succeed in the increasingly crowded streaming space, news organizations need to understand its consumers’ needs and viewing, determine where TV news content fits in and determining the business and monetization implications. Magid’s Katie Larson spelled it all out at TVNewsCheck’s OTT News Summit.

Creating an app to deliver unique content OTT is only a small part of the equation for local news. Stations moving into OTT need their target viewers to be able to find their apps on various platforms, and that can be tricky.

Katie Larson will outline the OTT ecosystem for news organizations, from audience growth, demographics and expectations to evolving market dynamics for content providers and, most important, monetization potential.