The media and entertainment industry has always been among the first to adopt modern new technologies and that includes ad-tech. It’s the reason why today many advertisers continue to leverage the power of in-app and mobile advertising to create a buzz for that new show, or summer blockbuster.
But does mobile advertising still make sense in times of ‘achieving more with less’?
Simply put - yes. Because beyond just promotion, in-app mobile advertising has become an important tool for advertisers to break through the noise and interact with the right audiences at the right time, and at the right place; while providing value in exchange for the consumer's time. A key factor for an industry that is highly saturated and full of customers that are re-evaluating if the movie they are watching, or the streaming service they are paying for is even worth it.
In fact, a 2022 study found that 65% of consumers subscribe to at least one video service while 39% of them felt they weren’t worth the cost. Satisfaction with value was even lower for audio, digital publication, and gaming subscriptions. The result is significant with an annual customer churn rate of around 17%.
So, what’s the media and entertainment industry to do?
Like any other service or product based industry, customer experience and retention is of high importance to the media and entertainment industry; especially when there are a number of growing alternatives for media and entertainment that are free-based like gaming, esports, live streamers, social media etc. This problem of losing paying subscribers, or not hitting box office targets, is of great concern and naturally looking for savings anywhere possible becomes crucial.
But some forms of advertising just make sense to keep or even boost by allocating funds from other channels that are not delivering. In this case, considering where a target audience is spending a majority of its time will lead any advertiser to mobile - specifically in-app.
From there it's easy to see the opportunities available within the world of in-app and mobile advertising as it presents a gateway to meet audiences of all ages, gender, background and locations - all which can be targeted accordingly and with dynamic creative that intelligently considers things like region, time zone, and even weather to adapt to the ad-type and creative each segment of the target audiences sees.
The harsh reality is that most industries today are facing a need to do more with less in a continued attempt to win over audiences against the competition. The smart bet is to continue investing in the marketing and advertising channels that are delivering.
The mobile advertising channel should continue to be a key focus around efficient advertising that comes at low cost and delivers high on ROI.
Need proof of how well in-app mobile advertising works for the media and entertainment industry? Get in touch and we’ll gladly walk you through the ways we’re taking media and entertainment clients to the APEX of digital advertising.
Carlos Guevara is the Marketing Director at APEX Mobile Media and previous host of the podcast "In Search of Good Data." He has also helped various organizations in the private and non-profit sector to become more customer-centric with the use of enriched data and modern marketing and advertising technology and strategies.