Artificial Intelligence is here to stay and is revolutionizing the technological world.
From JUMP, a business data management platform designed specifically for video service players, we give you all the information on how to boost video services with AI.
What is AI, and how can it help increase monetization in video services?
AI or Artificial Intelligence are computer systems that seek to imitate human cognitive function through machines, processors, and software. This means that they replace human work, with the aim of performing data processing and analysis tasks in less time, generating greater effectiveness.
AI is key to maximizing monetization in video services as it provides enabled digital marketing strategies, helping brands deliver user experience personalization and thus making marketing more effective.
Artificial Intelligence has come to transform the video service marketing industry, because it will allow us to predict user consumption in the short and long term in a short time.
The use of AI will help video service companies save money and time, greatly improving the user experience.
Analysis of user behavior in video consumption
The increase in consumption of video views is surprising. In 2019, 80% of total internet traffic was in the form of video views, but that percentage grew to almost 85% in 2022.
Statistical data on video consumption and user preferences
User behaviors become increasingly clear to companies, since by consuming videos of one topic or another, and then starting to consume what is offered in them, companies will grow more and more.
It is estimated that today one minute of video generates a commercial impact, just like the gain from a text of 1,800,000 words.
How to use AI and user insights to increase monetization in video services?
The growth of streaming platforms such as YouTube and Twitch has been exponential since 2020, with the start of the pandemic, and is another clear example of the improvement that will be seen with AI.
To better understand the use of AI and how it impacts user behavior, let’s look at the cases of Netflix or TikTok.
Netflix is one of the companies that has invested heavily in the application of AI to better understand user behavior. They use personalized recommendation technology to display specific content to each user based on their viewing preferences.
TikTok, on the other hand, has revolutionized the way video content is consumed online. With the AI application, TikTok can display personalized content to each user based on their previous viewing behavior.
This has led to higher user retention and has allowed TikTok to monetize through advertising on its platform.
In both cases, AI has allowed these companies to better understand user behavior and deliver more personalized content. By better understanding their users, these companies can offer better service and grow their user base and revenue.
If companies manage to understand those who consume these videos are the ones who will consume their services and products, and that they will also be able to predict their behavior in the future, the impact on their profits will be exponential.
At JUMP, we can grow the number of active users on your video-on-demand or streaming platform thanks to the use we make of AI tools and their metrics.