Broadband TV News recently published an article referencing key findings of a report by Juniper Research – Digital TV & Video: Network and OTT Strategies 2016-2021, which states that revenues from SVOD services such as Netflix and Amazon are set to more than double from $14.6 billion this year to $34.6 billion in 2021. The report also found that as more countries move from traditional TV viewing to streaming and on-demand services, SVOD providers “can expect to see substantial returns on their expansion and growth strategies.”
While the number of SVOD providers continues to rise, the overall market share in Europe is low compared to the US, something that, according to Bloomberg, Amazon and Netflix aim to address by offering local content to win in Europe. Furthermore, Netflix, who announced a slow Q2-2016 subscriber growth, has confirmed that “efforts were underway to localise in Poland and Turkey with subtitling and dubbing”.
It looks like original programming on its own is not enough today, especially in Europe. In the coming years, local dramas that manage to keep their authenticity throughout the localization process will surely prime. Here are some key metrics that content creators & distributors should keep in mind when preparing their masterpieces for regional Video-on-Demand markets:
Adapt to changing viewing habits and changing screens
Not less than a decade ago, viewers enjoyed their TV entertainment gathered around the one screen in the living room and were happy to wait for their scheduled program to air. That’s all changed and viewers now expect to consume their TV entertainment anytime, anywhere (be it at home or on the go) and on any device. To survive in today’s always connected and on-demand world, content owners must adapt to these changing needs by offering their content in multiple formats, on multiple channels and when the viewer wants to consume that content. In the localization process, it is important that each foreign language version of your masterpiece has been adapted for the varying formats of each screen and mobile device. Not to do so would mean that the subtitles will not fit the intended screen of the viewer, causing frustration and most likely the loss of a customer.
Keep the authenticity of the original masterpiece
If authenticity is lost in translation, your creation will fail to find an audience beyond its local borders. No matter the localization tactic employed, it is of vital importance to stay loyal to the original storyline and message, to the characters and to the portrayal of their personality traits. Depending on the target country, a huge challenge to the creative process will be finding the right balance between the original concept and meeting local contexts, beliefs and cultures.
Understand your audience, their values and cultures
Unlike the main international SVOD providers, a key strength that the majority of local content owners and distributors possess is that they already know their audience. From a localization perspective it is critical that you are extremely familiar with the specific region you are targeting, with a deep understanding of the local customs, phrases, accents and dialects. Work with a localization partner whose translation teams are native to the country in which your content will be released. This will ensure that your localized adaptation is high quality, mirroring the use of language, slang and dialects of your viewers.
Personalization and viewer preferences
Personalization of content delivery is a core ingredient in any entertainment offering today, be it a customized program guide, a recommendations engine, or other. But personalization alone is not enough – when localizing your content and making the choice between the use of subtitles or dubbed content, you need to know your audiences’ viewing habits and preferences. For example, offering a subtitled movie in Germany, predominately a dubbing market, will automatically limit the number of viewers who will engage with that content. What we have observed from our years of experience is that viewers prefer to watch foreign content in its original form and with subtitles. However, many regional exceptions can be seen in European countries such as Italy, France, Russia and Spain where audiences are accustomed to dubbed content and will not easily accept a subtitled version.
Build partnerships across borders
Entering into cross-cultural partnerships with smaller regional markets can be the key to distributing your content to a wider audience and expanding your reach on a local scale. In Europe, for example, there are 24 different languages and cultures. With such a diversity of cultures and values, having a reliable partner will avoid miscommunication and possible cultural breaches. Building relationships and partnerships across production and distribution will give your content a much better chance of succeeding. It will also bring a sense of belonging and patriotism that the viewer will appreciate.
Offer access services and grow your audience
It is estimated that there are more than 400 million deaf and hard of hearing people in the world. Providing viewers with the option of consuming your content with closed captions will open up the doors to a huge potential audience. In an increasingly crowded Video on Demand marketplace, offering access services can be a huge competitive advantage in your target regions.
Act fast
In such an aggressive landscape, time to market is of essence. Major international SVOD providers are releasing new content on a global scale within a 24-hour period. Make sure that you have a solid localization strategy and plan per target region and that the cost and time for foreign language versioning is factored into the overall production time-scale.
Create an archived library of past successful titles
Another way to monetize your Video-on-Demand offering is to offer viewers a library of titles and genres that have been successful in cinemas or on live TV. Many localization service providers possess a library of content that has already been dubbed or subtitled that you can purchase at a fraction of the original cost.
In conclusion, one size will never fit all. The key is to know your audience, their culture and their viewing preferences and then create a unique Video on Demand offering that will appeal to each individual audience in your target regions using core localization and personalization tactics, while remaining true to the authenticity of the original masterpiece.
