Next Best Thing to Being There | Evergent Team Takeaways on Everything from Churn to the Rise of D2C, Profitability and Bigger Glow-up of Data

Amid the vibrant chaos of the 2024 NAB Show in Las Vegas, the Evergent team was on a mission of discovery, engagement, and enlightenment - for the top insights and trends that shape our trade. Here are some reflections from this year's program, where we were fully immersed to take the pulse of the broadcast, media, and entertainment industry:

Our top seven takeaways...

1. Addressing the Churn Conundrum

Churn remains a paramount concern for content providers, echoing throughout panels, presentations and our own individual discussions. Evergent's innovative churn deflection strategies and AI/ML tools garnered significant interest, underlining the industry's recognition of the need for technological investments to combat this pervasive issue.

2. Embracing the Power of Data

From conversations at the weekend-launching Devoncroft Executive Summit to casual encounters on the NAB show floor, the significance of first-party data emerged as a recurring theme. Some resonant phrasing we heard described data as “the fabric of many providers’ operations.” And those providers quite literally live in data all day to run those operations. Evergent's expertise in data utilization positions us as a key player in discussions surrounding data monetization and operational optimization.

3. Profitability and Industry Dynamics

The industry landscape is witnessing a shift towards profitability, signaling a departure from the 'land grab' mentality of the past. Content, it is being said, has peaked and new productions are slowing down as costs get reigned in. Evergent anticipates the implications of industry consolidation and emphasizes the importance of agility and adaptability in navigating evolving market dynamics.

4. Monetization Challenges and Solutions

Our interactions revealed a glaring gap in monetization solutions among video OTT providers, an area where our proven solutions and deep bench of experience installing successful strategies for revenue growth position us well. There is a deeper focus on the ability to capably handle revenue settlements between partners as the content landscape becomes more partner-centric. We also noted consistent discussions on the complexities of advertising and the rise of AVOD, underscoring the need for comprehensive monetization strategies to maximize revenue streams.

5. Focus on Customer Management and Engagement

Authentication, entitlement issues, and customer management challenges are top priorities for industry players. Evergent's end-to-end solutions and proven expertise address these pain points, enabling seamless operations and enhancing customer engagement.

6. The Rise of Direct-to-Consumer Offerings

The imperative for brands to embrace D2C offerings for consumer reach and negotiating leverage was a recurring theme. Having the right partner is key, but it’s best not to wait too long to launch as providers would be best to experiment and adjust along the way. Evergent advocates for this type of 'Launch and Learn' approach, emphasizing the importance of strategic partnerships and agile innovation.

7. Evolving Trends in Sports Streaming

Sports streaming is transforming, with enhanced fan engagement and sports betting emerging as key trends. Evergent's capabilities in fan engagement and partnerships, such as our collaboration with Mux, position us at the forefront of shaping the sports streaming landscape.

The NAB Show never fails to deliver a potent platform for invaluable insights, collaboration, and innovation. This year may have been the most power-packed one yet. Evergent remains committed to driving industry advancement, empowering our clients, and shaping the future of digital content delivery. As we reflect on the whirlwind of activities and discussions, we look forward to leveraging these insights to help propel our industry forward.

If you found these insights helpful and wish to explore them further with a member of our expert team, book your 1:1 meeting today.