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Imagine if streaming companies were the new face of retail?
With physical retail stores disappearing, more and more shopping is done online
But what if online shopping took a step further and then shopping took place while watching Ozark or Star Wars the Clone Wars?
(Thread)
With physical retail stores disappearing, more and more shopping is done online
But what if online shopping took a step further and then shopping took place while watching Ozark or Star Wars the Clone Wars?
(Thread)
Although the idea of “shoppable TV” has been around since at least the 1980s, we now not only have the technology to make it both possible and pleasurable but we also have the larger economic and societal circumstances that can allow it to be more than a niche activity.
Now you might be thinking that they’ll be adding ads on their content to make it “shoppable”
Well, imagine if ads weren’t there.
If you think about it, Netflix, Disney and other brands have tied brands and entertainment for years
Well, imagine if ads weren’t there.
If you think about it, Netflix, Disney and other brands have tied brands and entertainment for years
Look at Amazon. By combining Prime Day with the Amazon brand, Amazon has a day where they achieve massive sales
And you have other small experiments built around traditional models of brand awareness and product promotion
And you have other small experiments built around traditional models of brand awareness and product promotion
Consider instead what would be possible if these brands connected the data they have from the production process all the way through to distribution and audience targeting
Imagine if Netflix took all the costume and time-code data that it has for every one of its original productions and connected it with shopping functionality
A viewer could find out precisely what the person on screen was wearing—or what types of pans were used in a scene
A viewer could find out precisely what the person on screen was wearing—or what types of pans were used in a scene
When they see the thing they interests them, they can click on it and buy it
Using a phone as a second screen, this type of shopping wouldn’t even have to pause the program if other people were also watching
Using a phone as a second screen, this type of shopping wouldn’t even have to pause the program if other people were also watching
TopShop was one of the pioneers of the stoppable live-stream
Ideas like that were tested by other fashion brands https://intelligence.wundermanthompson.com/2012/10/shoppable-live-streams/
Ideas like that were tested by other fashion brands https://intelligence.wundermanthompson.com/2012/10/shoppable-live-streams/
With full control of the production pipeline, streaming brands are well-placed to advance this type of technology
For Amazon, making partnerships like the one with Vogue can allow them to monetize Prime Video further https://www.refinery29.com/en-us/2020/05/9816051/amazon-vogue-cfda-common-threads-partnership
For Amazon, making partnerships like the one with Vogue can allow them to monetize Prime Video further https://www.refinery29.com/en-us/2020/05/9816051/amazon-vogue-cfda-common-threads-partnership
Netflix has been experimenting with the “choose your adventure” feature on its content
And to monetize it, Netflix advertised a certain cereal brand to its viewer based on their demographic or past purchase behavior
And to monetize it, Netflix advertised a certain cereal brand to its viewer based on their demographic or past purchase behavior
A version of the technology for shoppable TV is already being tested and rolled out by NBCUniversal, which happens to be launching its own streaming network Peacock in the near term
$CMCSA
$CMCSA
And here’s more info on their expansion to making things shoppable
$CMCSA https://techcrunch.com/2020/04/23/nbcuniversal-checkout/
$CMCSA https://techcrunch.com/2020/04/23/nbcuniversal-checkout/
Also, Youtube is looking at shoppable ads too $GOOG $GOOGL https://techcrunch.com/2020/06/18/youtube-announces-a-new-shoppable-ad-format/
Also, shoppable ads have already been proven to be effective during the pandemic https://venturebeat.com/2020/05/16/shoppable-ads-prove-their-mettle-during-lockdown/
And if you didn’t know, Pinterest already had shoppable ads
Except they’re called shoppable pins https://qz.com/1730456/how-pinterest-became-the-only-app-where-people-want-ads/
Except they’re called shoppable pins https://qz.com/1730456/how-pinterest-became-the-only-app-where-people-want-ads/
So overall, streaming companies might be at the center of a new paradigm shift in advertising
With product placement becoming the new big thing, expect streaming companies to receive a lot of ad revenue especially for Netflix $NFLX
With product placement becoming the new big thing, expect streaming companies to receive a lot of ad revenue especially for Netflix $NFLX
Here’s the article to learn more about this phenomenon https://www.fastcompany.com/90507470/the-future-of-shopping-will-be-on-netflix-amazon-prime-video-disney-plus
