By Allan Dembry, Chief Technology Officer at Iyuno
In today’s rapidly evolving world, businesses face a variety of challenges that can impact their operations, from supply chain disruptions to economic uncertainty. For companies in the media localization industry, these challenges can be particularly acute, given the need to navigate a complex and rapidly changing landscape of technologies, standards, and content formats.
The media and entertainment industry is constantly evolving, with technology and artificial intelligence (AI) playing a significant role in disrupting workflows and creating new service offerings and revenue streams[1][2]. In this context, business resilience is crucial for companies like Iyuno, a leading media localization provider offering technology-driven end-to-end localization solutions for various platforms[3].
Technology and Activities Boosting Business Resilience
Security and Data Privacy
One of the most pressing concerns for any business in today’s digital age is security and data privacy. With the rise of cyber threats and other forms of digital disruption, companies must be vigilant in protecting their data, systems, and intellectual property. This is especially true for companies in the media localization industry, which handle sensitive content and intellectual property on a daily basis.
At Iyuno, we take security and business continuity very seriously. We have implemented a range of measures to protect our systems and data, including robust firewalls (NGFW), end-to-end encryption protocols, AI-driven network monitoring, cloud security best practice, extensive staff training, and regular security audits, along with a host of proprietary software, hardware and workflows that protect our clients’ intellectual property. In addition, we have established redundant systems and backup processes to ensure that our operations can continue in the event of a disruption.
Another key concern for businesses in the media localization industry is data privacy and protection. With the increasing amount of data being generated and shared across the industry, it is essential that companies take steps to safeguard this information and ensure that it is being used in a responsible and ethical manner.
As the demand for localization services grows, the need to ensure the security and privacy of clients’ data is paramount[6]. This includes implementing robust data protection measures, such as encryption and access controls, to safeguard sensitive information and comply with data privacy regulations[7].
Business Continuity and Supply Chain
In today’s globalized economy, disruptions to the supply chain can have a significant impact on businesses of all kinds.
At Iyuno, we have established a robust supply chain management system to ensure that we can continue to deliver high-quality services to our clients, even in the face of disruptions. Due to our extensive network of owned and operated facilities, the largest of any media localization company, we are far less reliant on external partners to maintain capacity and supply. Our strategy also includes working closely with our partners and suppliers to identify potential risks and develop contingency plans to mitigate them.
Business continuity is essential for media localization providers to maintain their operations during disruptions, such as supply chain issues or economic downturns[8]. Localization companies can achieve this by diversifying their supply chain, investing in redundant infrastructure, and implementing contingency plans to minimize the impact of disruptions[9].
Standardization and Interoperability
As the media localization industry continues to evolve, one of the key challenges facing companies is the need to ensure interoperability and standardization across a wide range of technologies, formats, and platforms. This is essential to ensure that content can be delivered seamlessly across multiple channels and devices, and that it can be accessed by audiences around the world.
Standardization and interoperability are crucial for media localization providers to ensure seamless integration with their clients’ systems and workflows[10].
Inflation, Scarcity, and Complexity
Being prepared to navigate a range of macroeconomic challenges, including inflation, scarcity, and complexity is also key. This requires a deep understanding of the market and a willingness to adapt and evolve in response to changing conditions.
When the landscape is evolving and changing, Iyuno’s philosophy is to seek new opportunities and evolve what we are offering so we can always find transformative methods of bringing value to new and existing clients.
Inflation, scarcity, and complexity are challenges that media localization providers need to address to remain competitive and resilient[5]. By investing in advanced technologies, such as AI and machine learning, we can optimize operations, reduce costs, improve quality and adapt to changing market conditions[2].
Current Trends in the Entertainment Industry
Streaming Restrictions and Contractions
The streaming landscape is experiencing contractions, with companies limiting growth on content spending and laying off employees[4]. This trend highlights the need for media localization providers to adapt to changing market conditions and focus on delivering high-quality services that cater to the evolving needs of their clients[12].
Growth of Niche Streaming Platforms and Expansion of Content Libraries
Niche streaming platforms are on the rise, offering specialized content to cater to specific audience preferences[1]. As a result, media localization providers need to expand their services to support a wider range of languages and formats, ensuring that their clients can reach diverse audiences worldwide[13].
Integration of Live TV and Music Streaming Services
The integration of live TV, podcasting, online content and music streaming is another trend shaping the entertainment industry[1]. Media localization providers need to adapt their services to support these new formats, ensuring that their clients can deliver a seamless and engaging experience to their audiences[14].
The media localization industry is facing a range of challenges and opportunities in today’s rapidly evolving world. By focusing on these key areas, companies can build resilience and adaptability into their operations, ensuring that they can continue to deliver high-quality services to clients around the world.
Citations:
[1] https://blog.gitnux.com/entertainment-trends/
[2] https://vistatec.com/artificial-intelligence-and-localization/
[3] https://iyuno.com/services
[4] https://www.bloomberg.com/news/newsletters/2022-05-22/layoffs-and-cost-cuts-usher-in-a-new-era-for-streaming
[5] https://www.ey.com/en_us/tmt/five-trends-to-watch-in-media-and-entertainment
[6] https://techcrunch.com/2021/03/17/how-localization-leader-iyuno-media-group-opens-entertainment-to-international-audiences/
[7] https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/localization-of-data-privacy-regulations-creates-competitive-opportunities
[8] https://www.businesstoday.in/opinion/columns/story/heres-how-to-unlock-business-resilience-through-localisation-341109-2022-07-11
[9] https://www.alertmedia.com/blog/business-resilience-2022-webinar-recap/
[10] https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/media-and-entertainment-industry-outlook-trends.html
[11] https://www.welocalize.com/ai-dubbing-the-future-of-multimedia-localization/
[12] https://www.transperfect.com/blog/8-trends-will-shape-media-and-entertainment-industry-2023
[13] https://commit-global.com/the-effect-of-technological-disruption-on-localization-services/amp/
[14] https://www.smartcat.com/online-events/lfh_talks_talkslfh3/
