The “original OTT premise” was a service that was considerable cheaper than pay TV, with a huge volume of content you could binge on or watch any time you wanted, uninterrupted by advertising.
2023 may well be remembered as streaming’s year of reckoning. Following the seemingly overnight paradigm shift in 2022, this has been a year of swimming upstream and marked by a continuous flow of transitions as investors demand better margins.
No longer are there any sacred cows as the drive to trim costs and boost revenue takes top priority, while the return of traditional revenue streams including content licensing, theatrical exhibition and advertising have come back in vogue. And the price of subscription is increasing as writers and actors strike for a big share of a revenue pie that is beginning to look like a tartlet.
As streaming and content costs continue to rise, scale has now become an even more important operational imperative and more high-profile mergers and acquisition are expected.
Streaming is the future. But with the drive towards profitability and free cash flow, who still dares to stream? Will 2024 be the year of FAST? Streaming has undoubtedly fuelled the rise of Asian content but how sustainable is this great rise and what more can be done to elevate Asian storytelling? What are the latest technology trends to enhance the consumer experience, reduce churn and increase efficiencies for advertisers?
In this period of streaming uncertainty, it’s going to be critical for us to keep calm. . . and stream on.
Registration to OTT Summit includes access to Piracy Over The Top 2023 taking place on 6 December at voco Orchard. Kindly RSVP during registration. A special bundle price for OTT Summit and Asia Video Summit 2024 is also now available, with savings of up to 40%. Visit the registration page for more details.
The Asia Video Industry Association strongly believes in the need to give opportunities to all. We are a meritocratic industry and believe hard work and talent should be rewarded wherever it is found. Diversity, equity and inclusion are not just labels, they are values which, when embraced, can make companies stronger.
One of the most visible and fundamental forms of representation is that of gender. The issue of gender representation and increasing female empowerment in the video industry has been high on our agenda since the very inception of the Asia Video Industry Association. Our predecessor organization, Casbaa, was often not perceived to be inclusive. The change in name was designed not only to reflect the shifting nature of our industry, but also to signify a new, more inclusive approach. I believe we are delivering on that promise.
We have seen and celebrated the rise of many extraordinary women in the video industry, and there is no shortage of women in the industry at large. Yet we have to acknowledge that an imbalance exists at senior levels in many companies. Clearly it is not a problem for all companies, but it is still a problem for many.
According to Deloitte’s Women in the Boardroom Report, women occupy just 20% of board seats globally, and continue to be excluded from the highest levels of corporate leadership. The report also revealed a clear correlation between women in top leadership roles and women in the boardroom. We have work to do with our own board, an issue we are trying to address, and one that would be made easier if we can see more women leaders coming through in the most senior roles in our member companies.
While this is ultimately an issue for each company to address, we have a responsibility to highlight the issue and to push for greater gender representation. Our proactive approach over the last 6 years has led to dedicated gender equality events, insightful webinars, and thought-provoking discussions including new voices at numerous conferences.
And yet I am not sure that just discussing and highlighting the issue is sufficient. So it’s time for something different. On December 5, at the Voco Orchard Hotel, Singapore, we want to hold a Women First OTT Summit. We want to have as high a representation of women on stage that day as we can. That doesn’t mean no men, but it does mean, as the name says – women first.
We have held enough events with an over-representation of men, so it doesn’t feel unfair to me that for this one event, we actively seek an over-representation of women. I am excited (and a little daunted) by the prospect, but with the support of all of you, I believe we can have one of the best OTT Summits we have ever had.
Louis Boswell, CEO, AVIA