No more ads: this is essentially what Neil Hunt, chief product officer at Netflix said.
The subject of this email is a bit strong, I admit. But this is what Hunt really said a couple of weeks ago.
Linear TV, as we currently know it, has been long due for a replacement, changed and we’re now in an era where technology actually makes it possible.
As Neil Hunt mentioned during his conference at Internet Week in May, the problem is located in what he calls the gris tyranny, or the 21 prime-time hours that represent programming with the biggest audience. Everything that doesn’t really fit into this gris is basically non-existent.
The solution according to him? On-demandTV, allowing audience aggregation over a longer period, also allowing content curation that makes more content bubble up than what the traditional grid could.
This also allows new forms of storytelling to surface, no longer dependant on the traditional 48 minutes. As with newer content consumption realities, binge viewing is one of the most prominent manifestation of the new reality we are part of.
What does this mean for broadcasters and brands that are putting so much effort into traditional TV advertising? I’ll let you come to your own conclusions…
For us, at Toast, we clearly see how budgets that were previously allocated to these “pauses” in content must more and more switch over to content, in an integrated and humble way, in order to reach their audience.
I am only considering some of the elements Neil Hunt is coming to regarding the future of television and content, AdAge has done an excellent summary of his conference and it is the article I invite you to read this week.