Mediacorp’s Catalyst Towards a Wealth of Opportunities
Variety and opportunities were placed front and centre at Catalyst M, Mediacorp’s showcase of industry solutions and trends for the coming year. From products that cater to the various age groups, to those that serve a plethora of preferences across local languages on an assortment of platforms, the show-and-tell was a well-displayed one.
Loke Kheng delivered the opening address at Catalyst M
Mediacorp’s CEO, Tham Loke Kheng, kicked off the occasion highlighting Mediacorp’s network of offerings, and more importantly, its quality of engagement in the content and the IPs they deliver. “I hope our network, our content, our IPs, our personalities, our solutions will work harder and help all of your brands blossom,” said Loke Kheng.
According to Mediacorp numbers, on average, blended cost-per-viewer (CPV) campaigns by the broadcaster have delivered a 38% increase in reach to advertisers, but at 27% less cost, vis-à-vis a TV-only campaign. This has been the catalyst of an exciting hodgepodge of IPs conceptualised for its various platforms, or audience-based IPs.
The hike in reach and drop in cost is a direct reflection of the broadcaster’s AI integration. This makes Parminder Singh, its Chief Commercial & Digital Officer, the man of the moment. Understanding what it takes to maintain success and remain relevant, Parminder, or as the industry calls him, Parry, reiterated that the secret of success over last few years, and why certain brands do well despite negative forces, is because they have stayed invested.
Parry spoke to almost 300 marketing leaders and professionals who attended Catalyst M
Parry spoke of two important pillars for Mediacorp when it comes to staying pertinent and evolving with the times – Flexibility and Accessibility.
Looking at the former, Parry highlighted Mediacorp’s outcome-based partnerships, with the latter being linked to its AI-run AdDirect, a service Parry described as being a world first. AdDirect plays in the world of online advertising for television. Here, AI takes over to suit the needs of their advertisers across their platforms of TV and digital video for now, with radio and socials being part of their future road map.
To counter the ever-evolving landscape, Parry sees Mediacorp as a one-stop shop, where Tech, Creative, Media, and Data, work together to produce bespoke solutions. Parry noted that he hasn’t forgotten that Mediacorp at heart, has a storytelling core. However, in the last 3 years, the broadcaster put a lot of emphasis (investment) on technology. For example, Parry noted that immense labour went into the meWATCH Android TV app. “Creating a state-of-the-art Android TV app for meWATCH was a huge thing for us, because connected TV was a huge thing,” Parry emphasised, also mentioning the re-design of CNA, as well as their audio platform.
In addition, Parry accentuated Mediacorp’s focus in creating a first-party data strategy in the light of the fact that the industry is going under a lot of changes in terms of data. “Like any publisher who has a very popular flow of traffic, we need to translate that into first party data strengths,” Parry noted.
“The more we understand our viewers and audience, the more effective we become,” said Parry. “We have to make sure that we reach all demographics, and of course keep up with (new forms of) storytelling for our younger audience,” concluded Parry.
Mediacorp made it a point to highlight their SocialHub of talent agencies and influencers launched in October last year; Bloomr.SG, which is a social media creative studio; and their latest launch, The Wonder Shop, a weekly bilingual shopping programme on meWATCH’s new livestreaming channel LIVE+, aimed at making shopping fun, entertaining and interactive while evolving with the changing needs and preferences of the audience.
Loke Kheng noted that Mediacorp is also working with YouTube and IMDA to actively lead the charge to train, reward and recognise the online community of creators, which in February this year, saw its first Content Creators Award, The Pinwheels.
Loke Kheng concluded that with the digital creators, Mediacorp will marry them with the impact of mainstream media and spice it all up with a buzz of social media, arming Singapore’s national broadcaster with an unmatched combination for a plethora of needs and connection.