Next Wave Technology Catalyzing the Change in the Media & Entertainment Industry
By Media Entertainment Tech Outlook | Wednesday, July 03, 2019
For Media & Entertainment firms, it is exciting and fascinating to witness the technology and innovation changing the industry landscape.
FREMONT, CA: As the global middle-class population grows from 1.8 billion people in 2009 to 4.9 billion in 2030 as per reports, the demand for new media services focusing on convenience, education, premium content, and many others will grow, particularly in emerging economies. This statistics is having a dramatic impact on what consumers expect from media, how they consume it, and savviness in navigating the digital world and presenting the industry with opportunities to fuel the continuous conversations with people.
Data analytics and real-time content management enable media and entertainment companies to get consumer insights across several channels and devices, allowing them to deliver relevant and meaningful experiences. This use of data analytics is particularly essential as media organizations no longer provide content but experiential services built around that content.
Reality technologies in media and entertainment are comparatively new but are captivating consumers. Key players in the industry are coupling blockchain and reality technologies to create new user experiences for consumers to interact with brands in entertaining ways.
With rapid strides being made, Artificial Intelligence (AI) will make in-roads in fields such as automated subtitling and closed captioning, metadata tagging, compliance editing, promo creation, contextual advertising to list a few. AI-enabled Media Asset Management (MAM) systems will be increasingly used to review and catalog existing media libraries, facilitating faster content discovery, and creating new sources of revenue.
The media and entertainment industry is among the first sectors of business to navigate digital disruption. With so much momentum, media and entertainment companies need to focus on embracing the right technology stack that leverages automation to help deliver great content at lower costs to audiences across the globe.