Years ago, people would have dismissed the idea of using YouTube as a best practice for how to run a TV business. Times are a changing… and so does the TV industry. Now, whoever observes the developments and trends in TV as closely as I do, comes to realize that YouTube is slowly becoming a force in TV – and mainly because TV is not any longer pure linear broadcast but a variety of video delivery mechanism
YouTube mastered perfectly to piggyback on the growth of CTV. They are perfectly placed to make use of any connected device on which they are displayed on: be it via a browser, app or embedded in another service. They play the whole range of D2C to B2B along the value chain of what is now the TV business ecosystem.
How can you learn from their model? Here are a few pointers:
👩💻 Data is everything: collect as much data on the consumer and use it wisely. Have good analytics tools in place to constantly improve the content offer as well as providing perfectly targeted ads.
🧫 Nurture a rich Creators Ecosystem: this one is key and central to YouTube strategy. Build good relationships with creators and provide them a well-designed and fully functional ecosystem of tools to help them create, distribute and (very important) monetize their content.
📺 Embrace Technology to your Advantage (namely CTV): I am still surprised how little many TV businesses know about the functionalities of connected TV and how they can leverage it. More and more people access TV content now via a device that is connected to the Internet allowing for a new way of interacting and targeting. Make use of it as much as you can.
💰 Monetization has become more than a oneway street: forget about relying on one monetization method only. You must think beyond PayTv or Ad Dollars. The new value chain of TV is breaking barriers and your TV business must build its own competencies and revenues around a variety of revenue sources: subscription, advertising (incl. a variety of ad sources: such as traditional commercials, pre rolls, shoppable ads, programmatic ads, local ads, etc), sponsorship, retail/ ecommerce, referrals, community membership fees, education Programmes, non-digital revenue and so forth.
Do not let YouTube take over all your business – because they will do sooner or later if you do not move quickly. The YouTube model is perfect for any public broadcaster, local media outlet or thematic / niche content service. This is your chance to learn from the big and grow your own successful TV ecosystem.
You want to get started now (you better do, really!) – and contact us if you need guidance on how to build your business value chain.
FASTTV, Know-How, LInearTV
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