SVP of Business Solutions - Americas, Codemill
Consumers are spending more time streaming video content than ever before. The video on demand market was already valued at $53.96 billion in 2019 and a recent report projects that it will grow to $159.62 billion by 2027. Content producers and media companies are faced with the challenge of producing enough high-quality content to meet this ever-increasing demand.
Just as manufacturers have used ‘lean principles’ to ensure they remain competitive in their respective markets, content producers and media companies can employ similar principles to meet this growing demand for new content. Lean manufacturing principles centre around eliminating or reducing waste and unnecessary expenses, improving quality, and reducing lead time. By working in an efficient and cost-effective way, media companies can optimise their performance and speed-up the pace of content creation.
Rethinking traditional content supply chain
In the last decade and particularly over the last few years, traditional media workflows have undergone a sea-change, both in terms of technological advancement and ways of working. Cloud technology has shaken up the industry and enabled media companies to move their processes and supply chains away from the traditional on-premises CapEx approach, which involved labour intensive and time-consuming processes, towards an agile, efficient, cloud based OpEx model.
The thought of developing and implementing web-based workflows that integrate seamlessly into existing infrastructure is daunting for any large media company. But with the right support and customizable tools in place, the infrastructure, workflows, and people, can be managed in a much more effective and efficient way.
Next-generation cloud workflows
Technological advancement, namely cloud technology, has given media companies everything they need to optimise content preparation and streamline workflows. Migrating to cloud-based and hybrid solutions has enabled production and post-production teams to store, share, and work remotely. Individuals and teams can access content, from anywhere, when they need to, and this hugely improves efficiency.
As well as helping companies to better utilise existing resources, remote production also makes it easier for companies to access the right talent, wherever that is.
However, it is not just the fact that workflows can be decentralised, with teams operating remotely, that enables media businesses to streamline supply chains. Cloud-based production tools are fast and effective and this makes it easier to seamlessly join up processes and automate tasks. Migrating asset management and storage to the cloud has also meant that media companies can leverage and monetise vast archives.
In order for media supply chains to be agile enough to manage the seemingly ever-increasing demand for content, media companies need powerful content tools to gain the insights needed for quick decision making. A cloud-native approach incorporates intelligent management of media, seamlessly connecting processes and leveraging metadata for maximum efficiency.
In terms of future-proofing, moving to the cloud allows media companies to work flexibly and scale operations as business needs evolve. Being able to adapt quickly and scale post-production up or down, means internal teams can easily respond to fluctuations in demand. This ability to control variables is particularly useful for fast-paced media verticals such as news and live sporting events.
The power of automation and AI/ML
Automation of manual, repetitive processes, avoids human error and saves valuable time for large media organisations. Media operations teams can then work smarter, and with greater autonomy, spending their time focusing on the tasks that need their skill and experience, so that throughput can be maximised.
AI and ML technology can be leveraged to automate manual, labour-intensive processes such as validation and QC. AI also makes it possible to automate the process of analysing video content, adding information that can be used to streamline the content’s journey throughout the media supply chain. By adding more useful information which accurately describes video footage, content is enriched and value can be added. Not only does rich metadata make it easier to process content for new productions, but it also makes it easier for broadcasters to retrieve and monetize existing content.
The importance of metadata
The role of metadata in automating workflows and improving efficiency cannot be overstated. Metadata-driven workflows allow content producers to efficiently manage large volumes of content. The use of time-based metadata in essential edit segmentation, versioning, QC, compliance, and localization can significantly speed up manual processes, and allow media organisations to efficiently manage content at scale.
As the broadcast industry evolves and consumer appetite for content continues to grow, the need to streamline processes and work faster and smarter is only going to increase. Broadcasters will need to leverage tools to ensure that web-based workflows integrate well with existing workflows and established infrastructure. In doing this, media businesses will be able to make sure their content moves seamlessly through the supply chain so that workflows are more efficient, and move the pace of content creation up a gear.
- Business Models
- Supply Chain
- Digital Transformation
- Cloud & Virtualization
- AI/ML, Data & Analytics