Media Companies Must Adapt to Consumer Desires or Risk Being Replaced

Strategic Insights -

Traditional media companies in the United States are struggling to keep up with changing consumer preferences, according to a report by the Kanbay Research Institute (KRI). The report, "Media Content Demand 2006: How Well Media Content Providers Deliver on Consumer Desires," found that consumers are increasingly looking for content that is tailored to their specific viewing devices and preferences. The study, which surveyed 1,713 U.S. consumers, found that media companies that fail to adapt to these changing demands risk being replaced by new competitors.

Key Takeaways:

  • Consumers want content that is tailored to their specific viewing devices, with 30-60 minute programs best suited for TV and short-clips for mobile devices.
  • The traditional concept of appointment-viewing is expanding to include device-shifting, with consumers expecting control over content beyond skipping commercials.
  • Media companies that best adapt to consumer needs will win an unfair share of revenue and profits.
  • Consumers rated Google, Headline News, HGTV, and the WB Network as the most desired media content providers across all viewing devices.
  • The top 5 most desired providers by category are:

+ News Channels: CNN, FOX News, Headline News, MSNBC

+ Cable Channels: A&E, ABC, Animal Planet, AOL Content

+ Web Channels: Google Content, Yahoo Content, AOL Content, MSN Content

  • Media companies must balance content with technology to offer customers a seamless experience.

Statistics:

  • 1,713 U.S. consumers participated in the survey.
  • 12 desired attributes of media content were ranked by consumers, including:

+ Ability to skip commercials

+ Ability to control content length

+ Ability to view content on multiple devices

+ Interactivity

+ Ad relevance

+ Content quality

+ Ad recall

+ Memorability

Sources:

  • Kanbay Research Institute's report "Media Content Demand 2006: How Well Media Content Providers Deliver on Consumer Desires"
  • Kanbay Research Institute's website: http://www.kanbayresearch.com/
  • Adjoined Consulting LLC website: http://www.adjoined.com/
  • Kanbay International, Inc. website: http://www.kanbay.com/