FreeWheel：2018Q2視頻貨幣化報告（英文版）(32頁).pdf

1、 #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 1 Q2 2018 PREMIUM VIDEO: Delivering Value Across the Marketing Funnel #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 2 The FreeWheel Video Monetization Report highlights the changing dynamics of how enterprise-class content owners and distributors are monetizing pre

2、mium digital video content. The data set used for this report is one of the largest available on the usage and monetization of professional, rights-managed video content worldwide, and is based off of census-level advertising data collected through the FreeWheel platform. Letter from the Authors PAG

3、E 3 Q2 2018 Summary PAGE 4 Core Observations: U.S. PAGE 7 Core Observations: Europe PAGE 18 Conclusion PAGE 28 Author Bios PAGE 29 Glossary PAGE 30 Appendix PAGE 31 Premium Video: Delivering Value Across the Marketing Funnel TABLE OF CONTENTS Q2 2018 #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 3 LETTER

4、FROM THE AUTHORS PREMIUM VIDEO GAINED MOMENTUM AS A MARKETING PLATFORM IN BOTH THE U.S. AND EUROPE as the TV industry continues to embrace technology and articulate its proposition across the full marketing funnel. During the 2018 U.S. Upfront buying season, CPMs increased across networks, with most

5、 reporting high single- or double-digit growth year-over-year. This demonstrates that advertisers see TV as a critical platform for their marketing success. TV executives were keen to highlight the benefits of their offerings to set themselves apart from prominent digital competitors who seek to cap

6、ture TVs share of marketing spend. As Linda Yaccarino, Chairman, Advertising Sales and Client Partnerships, NBCUniversal, stated, “Were not in the likes business. Were in the results business. Real, verified results delivered the right way.” That message resonated with marketers, who bought into pre

7、mium videos power to reach engaged audiences at scale, driving growth of over 30% year-over-year. Premium video is uniquely positioned to deliver top-of-the-funnel brand benefits due to its scale and brand-safe environment, and also increasingly delivers value further down the marketing funnel via s

8、ophisticated targeting and attribution capabilities. Many premium TV publishers have invested heavily in their advanced audience buying shops, from NBCUniversals Audience Studio to Viacom Vantage, enabling marketers to deliver bespoke messages to specific audience segments across premium video conte

9、nt. At the same time, buyers continue to look for tools that can simplify buying through greater automation and efficiency. Programmatic transactions are growing in importance as a monetization channel for premium publishers, but must work in tandem with direct-sold deals to maximize yield and meet

10、buyer demands while ensuring competitive separation and brand safety concerns are met. These three factorsscale of the inventory, sophistication of advertising solutions, and simplicity of executionare what make premium video such an attractive advertising platform for marketers. In this report, we

11、explore the ways that premium video delivers on these important objectives and reveal the key trends behind the evolution of the television ecosystem. REBECCA RANGELEY Head of Business Insight International HASAN IQBAL Senior Manager, Advisory Services ESRA AKTURK Associate, Advisory Services YING W

12、ANG Director, Advisory Services Premium Video: Delivering Value Across the Marketing Funnel #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 4 Q2 2018 SUMMARY Premium Video: The Power of Scale, Sophistication and Simplicity VMR data demonstrates that TV as a platform is uniquely positioned to deliver across

13、the marketing funnel providing scale of reach, sophistication of targeting, and simplicity of buying. +31 % AD VIEWS +35 % AD VIEWS U.S. E.U. Growth YOY Q2 2017 vs Q2 2018 Growth YOY Q2 2017 vs Q2 2018 In the U.S., syndicated viewing via traditional and virtual Multichannel Video Programming Distrib

14、utors (vMVPDs) grew at 111% year-over-year as consumers accessed TV Everywhere capabilities via IP-platforms. Syndicated Viewing Q2 2018Q2 2017 +111 %Growth YOY In Q2 2018, ad views grew by 35% and 31% year-on-year in the U.S. and E.U. respectively, continuing a multi-year upward trend. Total Views

15、Scale #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 4 #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 5 Q2 2018 SUMMARY Sophistication STB VODOTT COMBINED TOTAL AD VIEW SHARE 57 % U.S.30 % E.U. Live ad views grew 90% year-over-year and now constitute 33% of the U.S. market, demonstrating that premium video can de

16、liver ads in real-time in challenging technical environments. Live Ad Views (+90%YOY) of the Market The big screen (OTT devices and STB VOD) makes up 57% and 30% of total premium video ad views in the U.S. and E.U. respectively, demonstrating the power of the “new living room.” Big Screen Devices 33

17、 % #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 6 Q2 2018 SUMMARY Automated frequency capping makes it easier for advertisers to ensure a positive viewer experience, with only 11% of creatives repeated once or more in full-episode content. Ad Repetition Programmatic Transactions 14 % TOTAL AD VIEWS +58%

18、YOY CREATIVE REPEATED ONCE OR MORE 1 1 % FULL EPISODE CONTENT Simplicity Programmatic transactions, predominantly through private marketplaces, now drive 14% of total ad views, a growth of 58% year-over-year. #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 7 The Most Definitive Data Available on Premium Vid

19、eo Q2 2018 Core Observations: U.S. #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 8 There is still significant value in TV for advertisers as the market continues to move to a more consumer- centric and data-enabled future. The TV industry is addressing this shift by developing partnerships and coalescing

20、around certain standards like OpenAP, which enables cross-publisher audience targeting and independent measurement. In addition, publishers and distributors have highlighted scale as a key success factor. Scale enables the acquisition of large amounts of first-party data, facilitating a direct-to-co

21、nsumer strategy and allowing organizations to better compete with their competitors walled-data-gardens. For example, in June 2018 AT Newsletter from NORDICOM” (2018). Retrieved at: http:/www.nordicom.gu.se/sites/default/files/mediefakta- dokument/Nyhetsbrev_Norden/nordicom_nordicmediatrends_2-2017_

22、1.pdf CLICK TO TWEET #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 25 European premium publishers bucked the digital trend, despite the regulatory changes poised by GDPR, remaining in growth and taking 12% of total ad views. As in the U.S., direct-sold deals still dominate accounting for 88% of total prem

23、ium video ads sold in Q2, up 41% year-over-year. When deals are brokered programmatically, they are almost always executed within private exchanges, which affords both brands and publishers more control over where advertising is placed. However, this quarter deals on open exchanges broke the 25% bar

24、rier, three times the share typically seen as we saw a fresh release of premium inventory into the open exchange. In contrast, digital programmatic spending took a big hit immediately post-GDPR, with exchanges reporting anything between a 25% and 40% reduction in demand19. It wasnt just advertiser f

25、ear that caused the nosedive. Some publishers didnt have the technology in place to effectively target audiences while staying GDPR- compliant, which limited the amount of targeted inventory brands could buy. As a result buyers switched parts of their budgets back to direct buys. But programmatic is

26、 recovering quickly. In late June, just a month after GDPR went into effect, programmatic spending was almost back to its pre-GDPR levels, according to reporting from Digiday20. Because of GDPR, buyers may increasingly look to work directly with publishers rather than partnering with exchanges that

27、rely on third-party data. As such, premium publishers may opt to develop and/or improve their in-house programmatic capabilities, and some publishers are investing in third-party measurement solutions to verify their audiences. This is both a response to advertiser demand and a step toward better un

28、derstanding their viewers. Programmatic has a strong future and will continue its upward trajectory for sellers as it provides more automation and less administration than direct buys. Furthermore, buyers in the E.U. are increasingly looking for cross-channel targeting and measurement solutions, pro

29、grammatic or otherwise. As viewers become device agnostic, marketers work to follow suit. Agencies are increasingly moving digital and TV buyers under “one roof,” which makes it simpler for publishers to cross-sell and for brands to launch cross-channel/cross-device campaigns. Programmatic Trends Pe

30、rsist in the Face of GDPR CHART 16 Share and Growth of Direct and Programmatic Monetization, Europe Q2 2018 88 % Direct Programmatic 12 % *Note: Based on a data sample set Ad View Share by Transaction Model* Private Exchange 75 % Open Exchange 25% 19. “GDPR mayhem: Programmatic ad buying plummets in

31、 Europe” (2018). Retrieved at: mayhem-programmatic-ad-buying-plummets-europe/ 20. “A Month after GDPR takes effect, programmatic ad spend has started to recover” (2018). Retrieved at: https:/digiday. com/marketing/month-gdpr-takes-effect-programmatic-ad-spend-started-recover/ CORE OBSERVATIONS: EURO

32、PE / PREMIUM VIDEO BUYING CLICK TO TWEET #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 26 Publishers continue to experiment with the ad experience to drive user engagement. DAI enables publishers greater levels of targeting, and in turn, the ability to command higher CPMs. Since margins are improved on ev

33、ery impression served, publishers have room to test the effects of ad load reduction and shorter ad slots. In Q2, the average ad slot was 87 seconds, compared to 93 seconds in Q2 2017. The average number of ads per break has remained fairly stable, at 4.67 ads this year compared to 4.97 in Q2 2017.

34、Publishers are squeezing the same levels of ads in but opting for shorter lengths, therefore optimising the ad break. The number of ads under 15 seconds increased by 5% year over year. That said, 16-30 second ad slot remains the most popular with almost a two-third share, and ads of 30 seconds accou

35、nt for a third of all ad slots. Time is called on anything over 30 seconds in premium video, with this ad slot accounting for less than a 5% share. Premium video continues to provide an engaging experience for viewers. As a result, ad completion rates remain high regardless of format, with live and

36、full episode pre-roll completion at 91%, and higher still, mid-roll completion rates at 94% and 96% respectively. Premium Video Delivers Favorable Viewer Experience and High Ad Completion Rates CORE OBSERVATIONS: EUROPE / AD EXPERIENCE CHART 17 Average Number of Ads per Break, On-Demand Long-Form, E

37、urope Q2 2017 vs. Q2 2018 93s BREAK DURATION 4.97 Q2 2017 AVERAGE 87s BREAK DURATION 4.67 Q2 2018 AVERAGE CHART 18 Average Ad Break Duration in Seconds, Europe Q2 2016 Q2 2018 103s 93s 87s Q2 2018 Q2 2016 Q2 2017 CLICK TO TWEET #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 27 CORE OBSERVATIONS: EUROPE / A

38、D EXPERIENCE CHART 19 Ad Completion Rates by Ad Unit and Content Duration, Europe Q2 2018 FULL EPISODELIVECLIPS Mid-Roll 96% 94% Pre-Roll 91% 91% 76% Post-Roll 79% 57% CLICK TO TWEET #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 28 Advertisers, publishers and operators are confident in the future of both

39、linear television and digital capabilities as evidenced by the U.S. Upfronts season. They are increasingly working to marry these channels, in a move that reflects users viewing behavior and advertisers expectations. The premium video industry is working to develop cutting-edge targeting and measure

40、ment capabilities. Often, this means partnering with other industry participants to bring data sets together, and in the first half of 2018, a number of partnerships were announced across the U.S. and Europe. As premium videos growth continues, both in viewer consumption and advertiser adoption, the

41、re is an opportunity for the format to own a greater portion of the marketing funnel. Bringing together premium videos brand safe and uniquely engaging viewer experience with data-enabled targeting and measurement will prove to be a winning formula. Q2 2018 Conclusion #FreeWheelVMR / Q2 2018 / FREEW

42、HEEL VMR 29 Author Bios YING WANG As Director of Advisory Services at FreeWheel, Ying Wang leads the companys Business Advisory Practice. In this role, she partners with enterprise and emerging media companies to develop and execute strategies for digital video that improve viewer experience, maximi

43、ze yield, and grow revenue. Prior to FreeWheel, Ying advised media and retail companies as part of Oliver Wyman, a global management consultancy. REBECCA RANGELEY is the Head of Business Insight for our International Business. In this role, she works across Comcast Technology Solutions (CTS) and Fre

44、ewheel, using data analysis to support customer decision making and investments for clients. Prior to FreeWheel, Rebecca managed the Digital Insight Team at Sky Media in the U.K., delivering insights to drive Sky U.K.s advertising revenue for VOD, online and mobile applications. Special thanks to: X

45、u Yao, Faith Bentzel, Zhuoli Xu, Haley Glazer, and Alexander Groysman HASAN IQBAL is a Senior Manager in FreeWheels Business Advisory practice and helps clients generate insights through data-backed analyses. His areas of expertise include market benchmarking and analysis, revenue strategy, and scal

46、ing of organizational capabilities. Prior to FreeWheel, Hasan was a strategy consultant with PwC Strategy & where he advised media and technology companies. ESRA AKTURK is an Associate on the Advisory Services Team. In this role, she provides clients with strategic and tactical guidance on how deliv

47、er maximum value to their businesses using the Freewheel product suite. Prior to Freewheel, Esra worked in ad operations at Disney ABC Television Group where she managed and optimized digital campaigns to ensure that client KPIs were met. #FreeWheelVMR / Q2 2018 / FREEWHEEL VMR 30 AD COMPLETION RATE

48、 Measures the percentage of ads that were completed once started AD VIEW An impression that is accrued after the first frame of an ad is displayed AGGREGATOR A high-traffic content aggregator, for example AOL or MSN AVOD Advertising video on demand business model CONTENT VERTICAL Content genre, e.g.

49、 news, entertainment, sports DEAL ID Unique deal identifier of a programmatic transaction that can be used to match advertisers and publishers directly DIRECT-SOLD Advertising deals made directly between a publisher and an advertiser DYNAMIC AD INSERTION (DAI) Process of dynamically inserting ads into a content stream, such that different ads can be inserted into the same ad break FREEWHEEL COUNCIL FOR PREMIUM VIDEO (FWC) Serves the inter