Enabling accessibility in MediaTech products provides opportunities and challenges for MediaTech suppliers
IABM’s Business Intelligence Unit has just released a major new Megatrend report, Democratization of MediaTech, which takes a deep dive into the drivers behind the democratization of media technology. This is the third Megatrend report in the last nine months – previous editions have covered talent shortages and tangible sustainability. IABM Platinum, Gold Plus, Gold, Silver Plus, Silver and Startup members, and Global Engaged Partners (GEPs) can review all the Megatrend reports on the IABM Business Intelligence platform, MediaTech VantageTM. The report is also available for non-members to purchase on request.
As technology evolves, the media industry is shifting toward more accessible and intuitive tools and platforms. The Democratization of MediaTech report analyzes the process of democratization through three perspectives — people, technology, and markets — to provide MediaTech and ProAV vendors with qualitative and quantitative insights into the changing market landscape, which is driven by accessibility, underpinned by three factors: cost, scale and user experience.
Here are some of the key insights from the report:
- Definition: MediaTech democratization significantly impacts the broadcast, media and entertainment industry, with 50% of survey respondents reporting a strong or very strong impact on their organization. This transformation is primarily driven by evolving viewing habits and growing content demand from diverse audiences.
- People: Democratization drives the need to invest both in hiring new talent and developing existing staff through training.
- Technology: Technology democratization is characterized by improved accessibility through reduced costs and simplified user experiences. Ease of use and intuitive interfaces rank as the most crucial factors in democratizing MediaTech. The adoption of IP, cloud, and AI technologies has accelerated this trend, allowing MediaTech vendors to expand into adjacent markets. However, the transition to SaaS and DevOps culture introduces new security challenges.
- Markets: The corporate sector represents both the largest and one of the fastest-growing adjacent markets for MediaTech vendors. Competitive pricing is a key driver for MediaTech adoption in non-media markets, though this presents a significant challenge for vendors targeting these sectors.
“Understanding the process of democratization can unlock new opportunities for MediaTech suppliers,” said Chris Evans, Head of Knowledge at IABM. “Organizations of all types now have the need to make and distribute video. Where budget limitations prevent hiring experienced staff, the democratization of technology becomes the answer, as accessible tools designed with ease of use in mind can help to upskill existing staff and increase video literacy. While there will always be experts and specialists, our research indicates that video production is becoming a more diverse skill and a core competency sought after in other market verticals beyond just media and entertainment.
“By democratizing their technology, MediaTech suppliers – under pressure in their traditional markets – now have new opportunities in ProAV, particularly in high-end Broadcast AV applications where quality and performance are paramount. However, vendors have to adjust their go to market strategy to compete, which means changing how they develop and market their products. Our new Democratization of MediaTech report provides invaluable insights that will help them succeed,” Evans concluded.
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