BIA recently collaborated with The Weather Company and Magid on a webinar examining the value of local news and weather content for streaming video services offered by local TV stations. Held in September, the webinar, The Streaming Forecast for Local Broadcasters, moderated by Weather Company’s Therese Dematteo is available on demand and can be accessed here. Here are a few top takeaways from the discussion.
To set the context of the opportunity, I shared BIA’s forecast estimate of the total addressable market for local ad spending in CTV/OTT and TV Digital (station web and mobile apps) media platforms. Our forecast reveals that streaming video in this media category will rise to over $5 billion in 2024, with a driver being compelling content such as local weather a proven way to draw and engage audiences who have a multitude of choices in streaming video.
Magid’s Bill Hague provided highlights from several audience and advertiser studies related to the demand for local weather content.
- Magid’s audience research shows primary weather information sources are Mobile Apps, TV, and Websites and specifically what weather content drives audiences to these sites.
- Magid’s advertiser research shows three-quarters of advertisers use News Apps and Streaming Services to reach their target audience.
The Weather Company’s Justin Tuggle offered several revenue generating insights to execute on these opportunities, including:
- Tips for increasing ad revenue on streaming
- Key considerations for buyers when they think about digital advertising
- Recommendations and tools to get the most value out of your digital properties
Enjoy the full discussion by watching webinar on-demand here.
