Broadcasting in 2023: Re-defined Workflows and Business Models
This article was originally published on TV Tech.
A combination of emerging technologies, increasing budget pressures, and exploding content demand will continue to re-define the meaning of “broadcasting.”
The past few years have seen media organizations adopt new ways of working that not only make the most sense for them, but also meet the needs of their changing audience demographics. That will continue into 2023, as a combination of emerging technologies, increasing budget pressures, and exploding content demand continues to re-define the meaning of “broadcasting.”
Broadcasters and content producers are looking for technology options to engage audiences in inventive new ways. A quick survey of industry executives highlights increased automation, a continued adoption of virtualized playout workflows, the ongoing transition to IP and an increasing use of the Internet for reliable, high-quality, low-cost delivery.
At the same time, executives note a focus on Software as a Service business models and the democratization of video production, with tools and technologies once exclusively the domain of high-end content creators now available to all levels.
The New User Experience
The audience for content today is expanding far beyond traditional linear TV viewing to include newer and younger viewers accustomed to watching on Connected TV (CTV), mobile devices and the increasing number of streaming services, including rapidly growing Free Ad-supported Streaming TV (FAST) services.
“As we move into 2023, the importance of analyzing consumer needs will be pivotal to push media companies to produce not only more content, but highly targeted content that satisfies varying viewing tastes and advertiser demands.”- Symon Roue, Managing Director, VIDA
From the increase in globalized content to FAST channels, the surge in demand for content tailored to viewers’ specific needs is rapidly growing, according to Symon Roue, Managing Director, VIDA, at Visual Data, a global provider of digital media supply chain services to the entertainment industry.
“As we move into 2023, the importance of analyzing consumer needs will be pivotal to push media companies to produce not only more content, but highly targeted content that satisfies varying viewing tastes and advertiser demands,” Roue said.
Among a sea of ever-growing choices, content becomes a key differentiator for those companies that truly want to stand out, so the ability to deliver on those targeted needs quickly and accurately will be vital to capturing and retaining viewers’ attention.
“FAST Channel aggregators are taking a leaf out of TikTok’s algorithm playbook with tools that surface deep metadata,” Roue said. “Allowing for speed in discovery will be critical to this next phase in M&E.”
(To read the full article on TV Tech, click here.)