Latin America. Lamac published its most recent report on Premium video in which it is highlighted that this is the medium that generates more conversations and interactions on social networks, extending the possibilities of reach and commitment to brands.
With the explosion of new video platforms, advertisers can expand their reach beyond linear TV to include mobile and digital platforms such as Video on Demand (VOD), Over-the-Top (OTT) and TV Everywhere (TVE).
Here are the five key points of their report:
1. Every week, Colombians over the age of 18 watch more than 15 hours of Premium Video
When analyzing the different video platforms that compete with traditional TV, it is important to measure how many people connect to a platform and how much time they spend per week.
Evaluating the reach of different platforms, we observed that the smartphone is essential in everyday life, reaching almost the same number of people as traditional TV. However, the time spent watching video online on a smartphone doesn't compare to the time spent watching Premium Video on a traditional platform.
And if we also take into account that many of the online minutes consumed on the other platforms are Premium Video content, we can assume a potential increase in the consumption of these contents on all platforms.
2. The audience of Premium Video and Linear TV is double the audience of Smartphones and Smart TVs
We compared different ways and platforms of watching video content in Colombia, from the possibility of watching Total TV Lineal + On line, to how many people only watched Premium Video Lineal, Video On line (smartphones) and Video On line (Smart TV).
The results reinforce the relevance of the Linear TV platform.
3. Smartphone audiences mostly watch short-form videos (up to 15 minutes), music videos and user-generated content
This indicates that the smartphone is a very suitable tool for "portable" entertainment, but to consume video that requires more commitment of time and attention, consumers use the smartphone less and 41% always skip the advertisements.
4. On YouTube, the content viewed is mainly music. A combination of original videos and user-generated content
The level of attention devoted to consuming music is not the same as that given to a program or a movie.
In Latin America, the genre that is most consumed on YouTube is mainly music (original videos and user generated), which represents a less time-consuming entertainment unlike a movie, series or long-form content that requires greater attention and therefore, consumer involvement.
5. Premium Video content dominates in Social Media engagement
This level of attention to Premium Video is reflected in the reaction in social networks about the contents. An analysis in Parrot on social interactions on video content shows that 60% is related to Premium Video, above OTT content.
Entire ecosystems of blogs, social media posts, reviews, and summaries have evolved online along with TV content. Social media is an extension of the great relationship that exists between consumers and the content they are passionate about.
45% percent of millennials share, post and tweet about their favorite TV content. 27% of the top 50 YouTube videos are dedicated to TV content. This ecosystem acts as a positive feedback loop where online engagement drives the audience to enjoy new episodes.
Premium Video generates the most social expression which shows that there is palpable consumer interest in Premium Video content.
