As we step into 2024, the landscape of digital publishing continues to evolve at an unprecedented pace. eMarketer’s June 2023 forecast reveals that US viewers are set to spend an additional 10 minutes daily with digital video, signalling a growing appetite for video content, underscoring its increasing significance for publishers aiming to captivate their audience. For publishers looking to stay ahead of the curve, understanding and leveraging the latest video trends is not just an option, it’s a necessity. Here are five key video trends that are shaping the future of digital publishing.
1. Rise of AI in Video Content
AI is proving to be an invaluable asset for publishers, enhancing not just video production but the overall quality and impact of video content. It plays a pivotal role in aligning videos with audience preferences, significantly boosting engagement and relevance across digital platforms. This technology extends beyond mere production; it aids in content creation, optimization, and personalization, tailoring content to individual viewer’s interests and behaviors. By leveraging predictive analytics, AI also optimizes content distribution, ensuring that videos reach their intended audience more effectively. These advancements allow publishers to invest more time in storytelling and creativity, leading to more captivating and pertinent content. AI, therefore, is not just revolutionizing the field but is augmenting the entire video content process, emerging as a critical tool for publishers navigating the dynamic digital landscape.
2. Contextually Relevant Video Content
As third-party cookies phase out, publishers are navigating new terrain in delivering relevant content. The industry’s pivot towards contextually relevant video content, underscored by the adoption of new standards and guidelines, offers a solution that aligns with viewer interests while respecting privacy. This evolution from cookie-based targeting to contextual alignment is crucial for maintaining engagement and loyalty, ensuring content is both intriguing and pertinent. In this new era, leveraging contextually relevant video becomes essential for audience retention, promising increased engagement through more targeted and engaging content. This shift highlights the industry’s commitment to a more sustainable and transparent digital ecosystem, emphasizing the importance of adapting to these changes for publishers aiming to thrive in the competitive digital content space.
3. Monetization Opportunities in Video
Video is no longer just a tool for engagement; it has become a significant revenue generator. The financial stakes are high, as evidenced by a report from eMarketer, which projects video ad spending to continue its upward trajectory, reaching $81.03 billion by 2024. This underscores the immense potential for revenue within the realm of video content. For publishers, understanding and maximizing these monetization opportunities is key. This involves exploring partnerships with companies offering integrated Supply-Side Platforms (SSPs) and Ad Servers, which can open up new revenue streams and optimize existing ones. Ensuring that your content is not just seen but also monetarily rewarding becomes increasingly feasible as the market expands.
4. The Surge of Live Video Content
Live video on websites offers publishers a dynamic way to engage their audience. Its real-time nature fosters a sense of immediacy and authenticity, drawing viewers into events, announcements, interviews, and behind-the-scenes glimpses as they unfold. This format can significantly enhance viewer interaction and retention by creating a more interactive and personal experience. According to Restream, the global live-streaming market expanded from $1.24 billion in 2022 to $1.49 billion in 2023, and it’s projected to reach $3.21 billion by 2027. This upward trend shows the increasing demand and potential of live video content, highlighting its efficacy in fostering instant connectivity and participation, thereby building stronger, more engaged audience relationships in 2024.
5. Supply Path Optimization (SPO)
SPO is increasingly important in the complex digital advertising ecosystem. It enables publishers to find the most efficient and effective routes for selling their video inventory. SPO involves streamlining the supply chain, and removing unnecessary intermediaries, which leads to enhanced ad quality and potential revenue growth from video content. By optimizing the supply path, publishers can better manage how their inventory is accessed and purchased, leading to more direct, transparent transactions and improved financial outcomes.
In the rapidly evolving world of video content, publishers in 2024 must stay ahead to engage and expand their audiences effectively. Success is tied to a holistic approach that encompasses advanced technology, relevant content strategies, innovative financial models, interactive media engagement, and optimized supply channels These approaches are key to not just surviving but flourishing in the dynamic digital environment.
To learn more about how STN can help you elevate your video game in 2024, get in touch
