Streaming of content is now mainstream in media and entertainment, as most households adopt video, gaming, or music streaming platforms. We now live in a golden era of content, where almost every existing movie, TV show, song, and game is available somewhere digitally. Clearly, streaming has helped solve the problem of access to content, but at the same time it has made it more difficult for consumers to find what they want or like, given the sheer abundance of content choices and outlets. Meanwhile, content creators and distributors struggle to stand out and connect with viewers. The good news is that the next big tech disruptions to better match content and consumers are underway.
It is amazing how still today, after all the advances in the development of algorithms used by streaming services to recommend content to consumers, the main source is friends, family, and social media. In a survey released in late 2021, word of mouth came on top, with 59% of respondents using it to find new content.
With a new reality where massive content is available to billions of consumers, recommender algorithms used by streaming platforms are necessary to match consumers with content. Also, targeted ads to consumers can help match consumers and content. Yet both are still not up to par to word of mouth. How can search algorithms and targeted ads improve to provide the right recommendations to consumers?