Brad Wall, CTO, LTN
The media industry is experiencing a paradigm shift. In the digital-first era, competitive advantage is driven by digital strategies. Media companies increasingly leverage IP technology to define new business models and tap into more audiences across over-the-top (OTT), digital, and free ad-supported streaming TV (FAST) platforms.
In a competitive and fragmented media landscape, media and tech players are aggressively targeting the streaming market to get a piece of the pie. High-value content still differentiates the winners from losers, but that’s not enough. Media organizations need to ensure that their business is future-proofed and that they can make the most value out of their high-profile content to boost their bottom line today and in the future.
Winning the premium content battle
Global audiences are hungry for premium content. This content creates loyalty, stickiness, and new monetization opportunities with the right global distribution and regionalization capabilities. Media businesses bringing top-tier live events to cross-platform audiences worldwide while meeting the demand for more curated content experiences, such as niche sports and entertainment, are set for success.
Efficient and reliable global distribution and regionalization have become mission-critical capabilities. They are possible thanks to the latest IP innovation. Previously, delivering niche, regionalized content to global viewers required heavy investment in dedicated technology infrastructure with little reward. However, media companies can leverage global distribution and seamless regionalization capabilities with the right IP-based multicast video transport network and versioning solutions. As a result, they can bring niche content to new and diverse international markets efficiently, opening the door to global growth and new revenue streams.
Effective regionalization and growing audience reach mean more bang for media companies’ buck, especially when it comes to costly sports rights and licensing fees. Top-tier sports rights is the key battlefield for several players, from established media brands and streaming services to tech giants. Customizing live sports content for cross-platform, multi-geography audiences reliably and at scale is the revenue driver industry players can no longer afford to ignore.
Fueling monetization opportunities
For the media industry, content has always been king. Nonetheless, the value of premium live content has never been greater, paving the way for a key revenue stream: advertising. Broadcasters and rights holders know that premier live sports are gold in the advertising world. Investing in high-value content assets, like premier live sports, means tapping into a global audience in the billions. The monetization potential is unlimited.
At the same time, increased investment is fueling creativity in the media to capture the consumers’ attention and boost engagement. Content creators turn to gamification and immersive technologies to create unique and compelling viewing experiences, including personalized streams and game-like experiences. This is the time for media businesses to leverage efficient ways to create, version, deliver, and monetize high-profile content as well as capitalize on growing market opportunities.
Riding the digital tide with the right tech partner
Scaling premium live content to digital audiences globally on any device and platform is a key competitive differentiator for media brands. Being able to create, version, monetize, and deliver premium live content at scale is a real test for media brands, requiring best-in-class infrastructure, advanced software workflows, and dedicated expertise. New market entrants and traditional media players face the challenge of not having the right tech infrastructure to deliver the required content tonnage and customization to meet the growing demands of today’s media market. Existing tech toolsets that aren’t ‘digital-ready’ can’t cut it and are simply slowing down industry players at a critical moment in the industry’s transition to IP and the cloud.
Moving to a digital-first mindset isn’t straightforward. The digital journey requires careful planning, mapping, and deep industry expertise to ensure it’s not about throwing new technology into the mix and expecting it to magically deliver ROI and revenue growth. Media companies are businesses, and as such, they want to focus on what they know best: their content, audiences, and business differentiators, not technology.
This is why media companies need the right tech partner to navigate change and drive business growth. Investing in future-proofed technologies that can quickly and seamlessly adapt to market and consumer consumption shifts is a recipe for success for today and tomorrow.
