[PRESS RELEASE] Comperemedia announces three Telecom and Media Trends for 2020
Comperemedia has today (November 13, 2019) announced three trends set to impact the telecom and media landscape in 2020, backed by comprehensive market and consumer data, in-depth analysis and brand examples.
“We are on the cusp of a monumental shift within the media industry as new streaming video players enter the marketplace. As consumers embrace on-demand, contract-free, simply priced services like those in the streaming space, telecommunications providers face heightened pressure to make their own plans, pricing, and communications simpler and more transparent. Looking ahead to 2020, we’ve identified three trends that address how the industry will navigate the shifting landscape, including amplifying loyalty strategies amid intensifying switching activity, embracing ad-supported streaming services and improving transparency across communications,” said Emily Groch, Director of Insights, Telecom at Comperemedia.
The Big Swap-Out
New streaming video on demand (SVOD) entrants exacerbate switching activity in streaming video, driving a heightened focus on loyalty-building initiatives among streaming providers.
- There will be more options for streaming video in 2020 than ever before.
- With the streaming video options proliferating, but cost remaining a constraint, service swapping will increase.
- To encourage customers not to stray, providers will introduce new loyalty-building strategies.
As telecom providers, consumers and advertisers embrace free, ad-supported streaming video services, these services will multiply.
- AVODs will compete to drive awareness in a space crowded with streaming options and to capture consumers’ previous leisure time.
- Partnerships will be key for AVODs to help them spread the word. Established video providers, as well as telecom companies, will play a key role in driving awareness and usage.
- Expect 2020 to end with at least double the ad-supported streaming video services as it starts with.
Telecom providers will reduce service complications and “gotchas” to make services, agreements and communications clear and simple for customers.
- On-demand culture, increasing competition and an influx of contract-free, simply priced streaming video services will increase consumer distaste for contracts, exploding offers and complicated plans.
- The Canadian Radio-television and Telecommunications Commission (CRTC) responded to consumer demand for transparency with regulation; This will drive a sea change in marketing and customer communications across the telecom industry.
- In addition to more transparent/ worry-free plans, providers will implement better proactive communications to help customers manage their services.
Comperemedia’s 2020 Telecom and Media Trends thought piece is available for free download here.
Interviews with Emily Groch, Director of Insights, Telecom are available on request from the press office.