LAS VEGAS — A SmithGeiger survey of media leaders from across the broadcasting, entertainment, finance and tech sectors, unveiled Sunday (4/8) at the inaugural NAB Show Senior Leadership Summit, finds a majority remain optimistic overall about the future of linear television in the face of pressing challenges.
SmithGeiger President/Co-Founder Seth Geiger and Chief Researcher/Co-Founder Nicole Bergen shared their B2B and viewer survey results with summit-goers in a “Future of the Industry” presentation.
Overall, Geiger and Berger found that 57% of 79 leaders surveyed report being generally optimistic about the media industry overall.
They also see its five greatest challenges as:
- the ability to embrace change (91%)
- creating compelling content (88%)
- understanding today’s dynamic audience (72%)
- obtaining more accurate metrics and audience measurement (71%)
- finding new revenue models (68%)
When it comes to meeting content challenges, 84% of those responding believe television is up to the task.
The company also surveyed 1,007 U.S. TV viewers age 18-54 – comprising 87% of all adults – who either watch live TV or stream content on devices.
Their research shows that TV viewers are spending an average of 3 hours and 13 minutes per day watching live TV, plus an additional 3:15 on streaming TV.
While streaming has notable momentum, with 41% watching SVOD more often this year, the results indicate that 26% are watching live TV more frequently as well. The trendlines emerging over previous years continue, with younger 18-34 viewers streaming more content and viewers 35-54 more reliant on live linear TV.
For viewers 35-44, SmithGeiger noted TV reliance shifts to a larger degree of linear viewing (4:26) than streaming (3:38) but emphasized the considerable overlap – the “sweet spot” for local broadcasters – in TV and digital viewing. In all, 67% depend on a combination of local TV and local digital platforms for their news and information.
The pattern also holds for viewers’ reliance on broadcasters. Overall, 72% of adults 18-54 get their news and information from local TV stations via TV, their websites and news apps. The majority of all age groups are getting news and information each week from a broadcaster (59% of ages 18-24; 67% of ages 25-34; 75% of ages 35-44; and 81% of ages 45-54).
A substantial area of agreement among all age groups: 53% believe local news programs are their No. 1 most trusted source of news – dramatically outpacing any other outlet or platform – with very little differences across age groups (56% of ages 18-24, 53% of ages 25-34; 54% of ages 35-44; and 51% of ages 45-54).
“This is a significant development in the era of ‘fake news,’ especially when more than half of even the youngest adult viewers feel that way,” Geiger said. “We see media consumers are watching a whole lot of TV across a variety of devices. Although streaming, time shifting and non-linear is growing, 80% are still watching live TV.”
SmithGeiger noted broadcasters continue to carry an inordinate amount of weight and importance for the audience, with nearly 75% now getting news and information from a broadcaster on TV, online or from a news app each week.
Based on the results of the two studies, Geiger commented, “The broadcast industry may be anticipating a greater upheaval than the audiences themselves seem to indicate is happening, as least in the near term.”
Among other major takeaways of the media survey, SmithGeiger found embracing changes driving the media landscape to be the industry’s No. 1 challenge.
Executives responded they feel well equipped to manage many, but not all, challenges. The majority are optimistic yet realistic about the need for thoughtful and purposeful re-engineering; also, they are resolute and committed to serving audiences across a broad range of platforms and needs. Moving forward, they see the industry’s challenge to expanding what TV does so well to every other platform.
FROM PRIME-TIME REVIVALS TO M&A TALK
With content creation seen as a major strength of broadcast TV by survey respondents, the media industry leaders attending the invitation-only summit at the Encore at Wynn Las Vegas discussed such topics as the ratings success of the Roseanne revival on ABC and SmithGeiger viewer survey findings affirming that local television remains the dominant source of news and information among adults 18-54.
NAB President/CEO Gordon Smith, Beasley Media Group CEO and NAB Joint Board Chair Caroline Beasley and Becky Brooks, who serves as Executive Director for The Alliance for Women in Media outlined significant issues facing the industry and, in an era of enlightenment, the status of women working in it.
The half-day mini-conference was launched to bring together the media industry’s CEOs, presidents and creatives; Wall Street investment executives; advocates; and influencers to discuss and tackle the major issues from those tasked with leading the business through accelerating change, unprecedented disruption and ongoing reinvention.
Attendees heard a variety of perspectives on how to best deal with the opportunities and challenges these pose from two primary panels. In one, “Where the Financial World Will Place Its Bets,” Joe Flint of The Wall Street Journal moderated a discussion examining the pace of entertainment and media M&A activity and the potential consequences of media consolidation for the business.
In the other session, “The Future of Content in a Changing Industry,” Lionsgate Television Group Chairman Kevin Beggs led a conversation about creating the right content to meet the many opportunities offered by today’s evolving platforms. Beggs was joined by acclaimed writer-producers Chris Collins (Sons of Anarchy, The Wire), Holly Sorensen (Make It or Break It, Recovery Road, Step Up: High Water) and Ed Zwick (Nashville, Once and Again, My So Called Life, The Last Samurai).
Joanna Klein, SVP/Scripted Series, Programming and Development at Lifetime Network, lent a creative executive’s viewpoint.
