Facing consolidation in the cable business and an industry-wide shift toward streaming content, Discovery Communications recognizes that quality content is the linchpin that will draw ratings and drive sustainable advertising revenues. As a top media brand, Discovery believes it can meet the need for compelling nonfiction programming in its mission to “satisfy curiosity.”
Discovery works to expand its viewership while continuing to cater to its core male audience at Discovery Channel and its passionate superfans across the brand portfolio. The company’s global content engine produces programming that appeals to audiences around the world, bringing networks such as Discovery Channel, TLC, Animal Planet, Science Channel, Investigation Discovery, and Velocity/Turbo to viewers in more than 220 countries and territories.
The company has also launched localized content strategies to appeal specifically to European, female, and millennial audiences. For instance, in Europe, Discovery owns Eurosport and is leveraging two direct-to-consumer products: the over-the-top (OTT) video service Dplay, launched in select markets across Europe, as well as the live and on-demand subscription service Eurosport Player. Rounding out Discovery’s European expansion, the International Olympic Committee awarded Discovery and Eurosport all TV and multi-platform broadcast rights in Europe for the four Olympic Games to be held between 2018 and 2024.
Discovery is also experimenting with co-viewing strategies. During the 2015 season of its highly popular Shark Week, Discovery expanded the connected TV campaign to Twitter to test out the new “Buy Now” functionality, which lets brands and media companies embed buy buttons directly within their tweets. Discovery Communications also dove headfirst into virtual reality with the launch of Discovery VR this past August. The engaging experiences available on the platform immerse fans in a wide variety of visceral adventures.
Discovery Destinations, which introduces customers to a variety of unique vacation experiences, is a recent addition to the brand portfolio. Soon, Discovery will also have its first adventure park in China. Such initiatives reinforce Discovery’s spirit of exploring and embracing adventure—and extend the brand into relevant and distinctive new spaces.
Despite a recent slowdown in performance and a drop in stock price last year—which is expected to recover by late 2015—Discovery remains an established player in the media realm, with three billion cumulative subscribers worldwide.