Consumer behavior in Media and Entertainment (M&E) industry is constantly evolving in this digital era with content everywhere irrespective of any device on a 24/7 basis. This is disrupting the traditional content value chain and is compelling M&E companies to renovate their content operations to cater to changing consumer demands.
Digitization in M&E industry is basically based on three themes:
- Content Development: Sophisticated planning tools, advanced analytics, and machine learning are being applied to content production, helping media companies to optimize human and technical resources.
- Content Distribution: With the evolution in content offerings and the way of its consumption, enterprises face the challenge of applying traditional accounting standards to their new-age business models.
- Content Experience: The emergence of social media, availability of broadband networks at a large scale, wide acceptance of tablets and smartphones has given an outstanding experience to consumers.
However, to deliver a highly intuitive experience in the content offerings through a variety of new digital products and services, companies need to upgrade their tech-stack. Service providers are taking this opportunity to help them craft new-age applications with 3D modeling and AI. These innovative applications are being integrated into the modern world to give an immersive content experience to users.
- Walt Disney partnered with Google to build an advanced video experience with high definition video content.
- Channel 4 collaborated with Accenture for design and development in order to improve the velocity and quality of new products by facilitating through its All 4 streaming platform.
- HT&E Limited entered a joint venture with IKON Media & Entertainment and Gfinity plc for enhancement of HT&E’s existing radio, outdoor and digital businesses by providing unique content that is targeted to HT&E audiences.
Service providers act as a key enabler for the M&E companies to design and develop cutting-edge applications/platforms, offering premium and personalized experience to users. Enterprises are enhancing their end-to-end capabilities throughout the media value chain by building a partnership with such niche digital organizations.