Over the past few years, BVOD has grown in popularity as a means of delivering high-quality content. After the pandemic, BVOD usage has skyrocketed among both viewers and advertisers. The question “what is BVOD?” is frequently asked in the media industry, which is rife with difficult terms and jargon. That’s the reason we have come up with this article. Here, we will try to simplify the BVOD meaning in layman’s terms.
According to a recent study, linear TV and BVOD reached more than 90% of the UK’s adult population and accounted for nearly 26% of broadcaster viewing among 16 to 34-year-olds. However, the surge in BVOD adoption is not surprising as it allows viewers to watch high-quality TV shows and films on any device of their choice.
Even better, instead of being limited to predetermined programming on linear TV, viewers can even access their preferred content at any time, making BVOD an excellent choice for people of all age groups.
What is BVOD Exactly?
BVOD stands for Broadcaster Video-On-Demand. This VOD service uses content from traditional TV broadcasters. In fact, the content is accessible both online and via traditional methods such as cable or fiber optic. Indeed, BVOD is regarded as very high quality video content in terms of several key attributes, including TV-level content, targeting ability, brand safety, and view through rates.
While BVOD is available on a variety of devices such as smartphones, tablets, and computers, Connected TV Advertising account for more than 48% of total viewership. This means one can actually get a TV-style commercial delivered to the targeted audience on their favorite programme for a fraction of the cost. In a nutshell, BVOD combines the advantages of digital ad serving capabilities with traditional TV status.
“Never stop testing and your advertising will never stop improving.” – David Ogilvy
What Are The Key Benefits Of BVOD Advertising?
As the content served by BVOD is of higher quality than that of other advertising models, it provides a very lucrative advertising base for content owners. One of the most notable advantages is that, unlike traditional broadcast models, BVOD advertising allows marketers to specifically target ads at key groups and demographics while also tracking their effectiveness. Also, one can easily analyze who saw which ads and customize them to increase the overall effectiveness.
Here’s everything you need to know about BVOD advertising and why it should be a part of your online video streaming strategy.
1. Increased Targeting Capabilities
By now, it is clear that BVOD offers far more comprehensive targeting than traditional television advertising. BVOD advertising allows advertisers to target viewers based on their likes and interests, as well as contextual targeting based on the type of show they are watching. This advanced suite of options is market-leading, allowing brands to drill down on their audiences and display ads to only precise consumers.
2. Brand Safety
It is worth mentioning that when it comes to BVOD advertising, advertisers have more control over their ads and their targeted audience. Furthermore, the content on BVOD platforms is of high quality as it comes from well-known and respected broadcasters. This means that advertisers don’t have to worry more about associating themselves with inappropriate or offensive content, which further helps them concentrate more on their brand image and reputation.
3. Identify, Track & Optimize
BVOD advertising can provide data and analytics in real time. This means that campaigns can be optimized as they are delivered, giving you more control and maximizing campaign effectiveness. Also, advertisers can see who has watched their ads, as well as who has paused, clicked through, or left the advertisement. This enables advertisers to gauge the impact of the overall ad campaign.
4. Spend Smart, Not Big
BVOD is perceived to be far less expensive than traditional TV advertising. You may have heard the phrase “spray and pay” when referring to television advertising. This refers to TV advertising’s primitive targeting capabilities, which frequently result in a message being broadcast to a broad and often ambiguous audience. Another key benefit of BVOD is the support for unskippable ad formats; brands are more likely to get their money’s worth from Broadcast Video On Demand advertising than from other advertising mediums.
5. Enhanced Ad Performance
According to Think Premium Digital’s recent research, BVOD advertising outperforms video advertising on other digital channels. For example, it provides 1.3x better recall than YouTube ads and 4.7x better recall than Facebook video ads. Numbers too show that ads displayed on BVOD platforms are more popular than those displayed on YouTube, Facebook, or other social media platforms.
6. A Direct Platform For Sales Conversion
Unlike traditional TV advertising, BVOD allows advertisers to link directly to their website or social media handles, effectively acting as a direct sales conversion platform. With so many people watching on-demand video content on their phones, tablets, or laptops, advertising via Broadcast Video On Demand often results in significantly higher action or searches for any brand.
BVOD also ensures that the target audience is more likely to trust the advertisements placed on online video streaming platform rather than that of any social media websites, resulting in increased credibility and brand favorability. All in all, BVOD advertising leads to increased brand awareness, recognition, and sales conversion.
“Stopping advertising to save money is like stopping your watch to save time.” – Henry Ford
BVOD vs SVOD — What’s Better?
Any streaming media company has the responsibility to provide high-quality digital experiences for video-on-demand (VOD) while also ensuring a consistent revenue stream from consumers. However, there is no single business model for VOD services. As more entertainment providers enter the market, they bring their own revenue-generation models that may give them a competitive advantage. That is why we created a comparison between BVOD and SVOD so that one can make a wise decision. However, choosing between the two is a matter of perspective – a user or an advertiser.
For users, SVOD provides incredibly diverse content across genres, styles, languages, and interests. The main attraction of SVOD platforms for users is their ad-free offering: users pay a subscription fee to view their content without interruptions from advertisements. This is why most of the online platform’s subscription revenue tends to grow at a good pace.
However, for advertisers, this ‘ad-free’ business model does not lend itself to advertising. Even though the audiences for SVOD and BVOD are generally the same, BVOD is far more effective because ads can be placed during content streams.
On the other hand, SVOD stands for subscription video on demand platforms have larger audiences and higher viewing numbers, and the targeted content algorithms would theoretically give advertisers the best chance of reaching their target audience. In short, we can say that if ads are included, BVOD is the way to go.
What Makes BVOD Advertising So Effective?
The main reasons that make BVOD advertising an effective video on demand service are given below:
The BVOD advertising model enables advertisers to keep track of every user activity. BVOD is typically purchased and measured using a Cost per 1000 Impressions (CPM) model. However, combining BVOD campaigns with broader tracking data allows for reporting other important metrics. These include View Through Rate, which is the total percentage of ad viewers who later visited a linked site, and Footfall, which can be stated as the percentage of ad viewers who later visited an associated location.
Various research shows that BVOD ads have higher memory recall from viewers than ads on social video platforms like YouTube and Facebook, owing to higher attention levels, which are essential for generating a sales response. In fact, BVOD benefits the most as users are likely very close to the second screen or network device. As a result, advertising on BVOD can prompt quick and easy internet searches without interfering with the content or the flow of the viewing experience.
The final significant factor that makes BVOD advertising useful is that advertisements are usually unskippable. You can be certain that viewers are seeing what you are displaying. If the advertisement is entertaining, engaging, and creative, the end user will be happy to watch along.
BVOD advertising is an exciting opportunity for companies looking to enter the Connected TV market. For advertisers, BVOD represents a low-cost advertising space with growing viewership. Advertisers can use BVOD to ensure that any money they spend is well spent. As most advertisers are aware, generating sales results requires a high level of user attention. In turn, BVOD has the potential to be one of the most effective advertising platforms in terms of ROI from trackable advertising campaigns.
“BVOD is here to stay, but its true potential has yet to be realized.”
As the popularity of on-demand services grows, so will the audience for BVOD. If you go into BVOD, you will have great access to massive potential audiences and will be able to track and modify your ads, making them cost-effective and profitable. The bottom line is simple: If you want to generate handsome advertising revenue through broadcasting, Broadcaster video on demand is the method to consider for today and tomorrow.
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