Veset – The appeal of niche and nostalgia
Lelde Ardava, COO, Veset
In an increasingly crowded broadcast landscape, OTT services and broadcasters face the unending challenge of capturing and maintaining viewer attention. Strategies to expand viewership and increase engagement include expanding into new geographical regions, launching on new platforms, and investing in big budget original content, but of course the latter isn’t always an option. For many broadcasters, another strategy that has emerged as being effective at drawing audiences and improving engagement is the delivery of content that caters to niche audiences and fandoms.
Power of niche offerings
Of course, delivering niche content that appeals to a very specific audience or fanbase is far from a new phenomenon. Niche channels have in fact been around for decades – take MTV or the History Channel for example. These networks recognized that launching niche offerings to appeal to passionate audiences not only helped to enhance viewer loyalty and enthusiasm but also created an opportunity to monetize back catalogue content. This strategy allowed networks to keep audiences entertained while maximizing the value of existing content libraries.
These days, networks, broadcasters and video providers stand to gain similar benefits from launching niche channels and services as those early networks. In recent years, there’s been a whole host of niche channels and streaming services launched, such as Funimation, a VOD subscription service showing anime shows and movies, and Mórbido TV, which caters to a growing audience of horror fans across Latin America.
Niche content is a great route to engage audiences because viewers are already passionate about the subject. This makes them more likely to engage with the content, so they watch for longer, keep coming back, and even interact with discussions about the content on social media. This type of interaction helps to promote the channel and create a buzz without the high costs associated with traditional marketing strategies. Another perk of niche content is that it can also attract advertisers looking for precise audience targeting, which in turn helps to improve ad revenue.
While not new, niche services remain an attractive strategy for broadcasters and video providers because they provide a way of leveraging existing content to create a new monetization stream, increasing profitability without major investment. This is particularly appealing given the current economic climate that is causing churn rates to be high and squeezing profit margins. The wide array of niche streaming services and channels in operation demonstrates the viability of this approach.
Nostalgia: a powerful emotional hook
Just as niche content channels and services allow broadcasters and OTT services to engage dedicated and passionate viewers, the appeal of nostalgic content is another powerful strategy that can keep viewers engaged and connected. Classic TV shows and movie franchises are seeing a resurgence as audiences seek out content that reminds them of their past, bringing with it a sense of comfort and familiarity. Another appeal of old content for many viewers is that it brings a more laid-back kind of viewing. Viewers can engage with older content easily while doing something else at the same time. New content on the other hand demands the viewer’s full attention, a higher level of commitment if you like, which the viewer will not always be in the mood for.
Several factors contribute to the ongoing success of nostalgia-based content. Viewers that grew up watching and enjoying certain shows or movies have an emotional connection to the content, which makes them more likely to revisit the content again and again. Additionally, those viewers are also likely to introduce old favorites to younger generations.
The appeal of nostalgic content is so great that broadcasters are not only reshowing much loved classics but are also investing in licensing legacy content to attract both new and returning viewers. A number of broadcasters have also invested in remaking old classics such as Hawaii Five-O, Danger Mouse and Dragnet, to appeal to the modern audiences in the hope of building a loyal fanbase.
Role of FAST channels
The FAST (Free Ad-Supported Streaming TV) business model is a perfect partner for both niche and nostalgic content, and so it’s not surprising that there’s been a huge increase in FAST channels in recent years. These curated linear format channels are often focused on niche and/or nostalgic programming and may offer episodes from a single show, or from a range of shows all within the same genre or field of interest. These channels are free to watch so are highly appealing for those viewers who enjoy particular shows, genres or interests, or who are passionate about a specific subject, but who may not want to pay for a subscription.
By leveraging SaaS playout platforms to launch FAST channels quickly and at minimal cost, broadcasters can repurpose existing content libraries to generate ad revenue. Broadcasters can create themed programming channels, such as an action movie channel, a dedicated classic sitcom stream, or a channel showing a long running, much loved series. One broadcaster that has leveraged this model with great success is ITV, which has launched many FAST channels based around single shows such as Hell’s Kitchen US and Love Island. This strategy not only appeals to loyal fanbases but also maximizes content monetization potential in a cost-effective way. Additionally, FAST channels can also be used as a means of promoting a broadcaster’s other channels and service, as well as driving viewers to take up premium services.
Reshaping engagement strategies
As competition for viewers intensifies, niche and nostalgia-driven content both offer viable pathways for capturing and maintaining viewer attention, in a cost-effective way. By catering to specific passions and emotional connections, broadcasters and video service providers can build stronger viewer loyalty, differentiate themselves in the crowded market, and create lasting engagement strategies. Whether through hyper-targeted content for dedicated fanbases or tapping into the emotional pull of the past, this approach is reshaping engagement strategies as broadcasters continue to adapt and evolve in line with market conditions and viewer preferences.
