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There are still many opportunities at Mip TV as April is prime buying time and distributors need to strike while buyers are most engaged
It’s been hard to miss the headlines in the run up to this year’s Mip TV. Major industry names such as BBC Studios and Endemol Shine Group have chosen to leave their stands empty – a sign that the role of the market is changing.
Cannes is synonymous with distribution, and Mipcom and Mip TV have shaped the way television content is sold. Sales typically follow the peaks and troughs of the market, but over the last few years, buyers have shown more of an appetite to buy all year round.
Smaller numbers at Mip TV are reflective of a wider shift in the industry, and while lower attendance at the market may seem disconcerting, fewer numbers doesn’t need to mean fewer opportunities – as long as distributors are ready to adapt their strategies.
The Cannes effect
It’s habitual for buyers to be in ‘buying mode’ around the first week of April. Mip TV dates are ingrained industry-wide as a focal point of the year. Distributors will still be promoting upcoming shows and buyers will be exploring new content regardless of whether their clients are at the market or not.
We’ve found that traffic to our clients’ websites can increase by up to 30% in the run up to the market, so it’s vital that distributors are maximising their digital presence.
More than just an online catalogue
It’s easy to stand out at Cannes. If you have the budget, big stands and bigger parties draw in the crowds and create a buzz around certain shows, but it’s a different ball game online.
Content is now readily and easily available at any time but not all online catalogues give buyers what they need or expect. The importance of the online experience and the curation of personalised content that’s optimised for individual buyers should not be underestimated. Just having a catalogue online doesn’t cut it anymore.
With the increase of traffic around the market, the most successful distributors make content discovery intuitive and enjoyable for buyers – think Netflix, with personalised content and tailored recommendations.
Powerful browsing experiences driven by data should not be reserved for consumer-facing platforms and, as fewer people attend markets are a vital component in continuing to build relationships in a global industry. Distributors who truly engage with their buyers online are the ones who will benefit the most from the buzz around the markets.
Sales and marketing teams need to be constantly tracking buyer activity - both online and offline and using that information to build insights that help drive tailored recommendations and personalised browsing journeys for their buyers.
In fact, our latest Buyers Report revealed that 90% of buyers expect to be presented with bespoke content. A few highly targeted programmes with a detailed explanation of why it will work for that particular buyer’s slot and channel will be far more successful than a generic list of the latest and greatest content.
And that’s not just true for online experiences, it’s arguably even more important in-person, especially at markets such as Mip TV when time is so constrained and buyers are so busy.
We work with distributors such as ITV Studios, AMC Networks International and Sky Vision with our content discovery platform, ONE.
If you’d like to learn more about how ONE helps distributors connect the right buyers with the right content, visit us at thisisone.tv.