Six of the best: Key trends from Nab Show 2016
The NAB Show in Las Vegas is one of the annual highlights on the Pay TV calendar, with five consecutive days of presentations, seminars and discussions, led by some of the most influential names and brands in the industry.
Our team made the trip this year and you as you may have seen in our first blog last week, they shared with us some of the biggest trends, themes and insights gathered each day.
In total there were over 100,000 attendees and more than 1,700 exhibitors, but throughout the event it became clear that there were a number of key themes at the forefront of discussion. We've rounded them up and counted nine in total, which we'll explore over the course of our blog series this week. Part one, and the first six insights are below:
Trend 1 | Customer data needs to be used to enhance personalisation
A key theme from NAB Show was the importance of using data to personalise customer experience and offer tailored recommendations.
In his keynote on day one, Neal Mohan, Chief Product Officer at YouTube stated that the video sharing giant is focused on offering users access to better organised catalogues, with more accurate suggestions for content that they may like.
YouTube has developed smarter UI, utilising new algorithms to signpost content, and it appears to be working as Mohan told the audience that recommended videos and features now generate the highest volume of views on the platform. He added that the site has also recently launched a specific YouTube Kids app packed with age-specific content and relabelled music videos so they are now easier to find, which has proven highly successful.
While it's a simple premise, ensuring users can access the content they like, as easily as possible is a critical part of the customer experience, especially in a highly competitive market.
Trend 2 | Customers want bigger, better, faster experiences
Often we look to the big platforms to highlight where the growing trends are and indeed, Neal Mohan from YouTube again provided lots of indication in his presentation, based on YouTube's own innovation.
Mohan introduced the bigger, better, faster' mantra which YouTube adopts, encouraging others to do so too. The idea is to reach as many customers, as fast as possible with the best service delivery and to do so, YouTube is focusing on the following areas;
Smarter as touched upon above in trend one, YouTube is using data to get to know customers and to offer them personalised recommendations.
Immersive YouTube is working towards a more immersive experience for all users, globally. Mohan announced the launch of spacial audio for 3D sound as well as developments to 360 degree video and live streaming. He went on to explain how YouTube is working with partners to develop camera quality and better headsets, as well as having artists and musicals experiment with the technology, bringing YouTube closer than ever to virtual reality.
Seamless viewers don't like to be interrupted so skippable ads, ads in context and native ads continue to be better received. Ad formats was also something that was discussed throughout NAB with a panel on day two exploring how mobile is disrupting monetisation and challenging providers to deliver ads that don't disrupt audiences.
Trend 3 | Virtual reality and 360 video is experiencing significant growth
Virtual reality and 360 video was an almost constant feature at NAB Show, with many speakers citing it as the technological development they were most excited in.
As was briefly mentioned above, YouTube's Mohan was just one. As he announced the site's new 360 live streaming and 3D audio offering, he highlighted the potential in the technology, adding that VR content on YouTube has grown 400-500 per cent in the last year alone.
His comments were echoed throughout the event, as in a later discussion on the mobile video revolution every member of the five strong panel, which included Stefan Lederer, CEO of Bitmovin and Matt Smith, Chief Evangelist at Anvato, unanimously answered that VR and 360 video had huge potential and was the most exciting new technology on the market.
The buzz around virtual reality and 360 video was clear and the exhibition space was filled with exhibitors showcasing the latest VR technology and applications, while a micro Virtual Reality Summit' on the Wednesday tackled everything from content creation and best practice to market value and monetization.
The emphasis now however is to not make the same mistakes as 3D, which faltered owing to the price of the technology. But while it's something that the sector still needs to overcome, it already looks like VR and 360 video is here to stay.
Trend 4 | Mobile is key but comes with challenges
On day one, the Reaching Millennials and Multicultural Audiences' panel found that mobile was key for reaching and engaging with millennials. It was discussed that millennials are a savvy audience, with far more content choice than anyone else and no direct financial increments. It's therefore much harder to gain their attention, and keep it.
Providers are facing a challenge, working harder than ever to attract and satisfy the audience segment. Content providers need to offer quick bursts of continuous content as well smart and authentic ads to initially interest the audience.
With millennials being mobile-first', there are clear challenges for content providers but also advertisers. During day two of the show, the Mobile Video's Explosion: Personalized TV Has Arrived' panel explored that the explosion of mobile video provides advertisers with raising the bar' challenges as well as larger production costs.
Mobile first means a higher expectation from consumers and for a true storytelling sequence that fits into the contex
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Six of the best: Key trends from Nab Show 2016
