Another New Streaming Service Launches, But Will Audiences VUit?

Big news: More than 200 local broadcast TV stations have joined VUit, an ad-supported streaming effort.

Quote from Jack Perry – CEO @ Syncbak:
“We’re aiming to be the Netflix of live, local and free.”

Local broadcast station groups involved w/ VUit:
1) Gray Television
2) Meredith
3) Morgan Murphy Media
4) Northwest Broadcasting
5) Cowles Media Company
6) Heritage Broadcasting Group

Streaming platforms with VUit include:
1) Roku
2) Amazon Fire TV
3) Apple TV
4) iOS
5) Android

Recent deals in the local CTV/OTT space include:
1) Gray and Premion partnering
2) NBC Spot On launching
3) STIRR from Sinclair Broadcast Group

Flashback: Sinclair Enters Streaming Arena With Entertainment Bundle and Local Channels

Why this matters: 74% of video ad buyers want to buy streaming and digital together. Local broadcast station groups stand to benefit if they can provide a unified offering.

Local video ad forecast for 2020 according to BIA Advisory Services:
1) Broadcast = $18.6B
2) Cable – $5.9B
3) CTV/OTT = $900M

Local video ad growth between 2020-24:
1) CTV/OTT – ↑ 133%
2) Broadcast – ↑ 11%
3) Cable –  ↑ 5%

Our take: The growth of local CTV/OTT advertising to outpace $2.1B by 2024.  There is too much consumption shifting to streaming, and the demand for targeted video advertising is too high.

More #1: Local OTT Ad Sales Gaining Traction

More #2: Tegna And Gray Form OTT Partnership

The post Another New Streaming Service Launches, But Will Audiences VUit? appeared first on Cross Screen Media.