a. Catering to the increasing need for ‘on-demand’ delivery;
b. Ensuring content remains compatible across the spectrum of smart consumer devices; and
c. Focusing on the experience in terms of driving engagement, interaction and offering a seamless experience to consumers.
Emphasis in the coming years is likely to be placed at the intersection of content, technology, and user experience. A number of emerging technologies are disrupting existing business models within the media industry and are offering new opportunities, which traditional enterprises are only beginning to acknowledge. Such developments foretell the industry’s transition to a direct-to-consumer world by creating, distributing, and monetizing content in newer ways across the industry landscape. Below is a glimpse of top information and communication technologies that are likely to disrupt the broadcast media in the near future:
I. Deep Learning/ Artificial Intelligence
Artificial Intelligence (AI) and Deep Learning (DL) are being increasingly used to transform the way media houses create content and present them to viewers. AI, by virtue of its data driven intelligence and self-learning abilities, can be used to automate repetitive skill-based jobs. Additionally, AI can power the development of superior prediction engines that offer cutting-edge analytics and business intelligence to media enterprises globally. Key innovation areas powered by AI include:
a. Media archiving and search
With the explosion of online videos in the recent years, the use of AI becomes critical to tag, recommend and monetize media content, as it offers more efficient options for classification, archiving, precise targeting, and increased revenue generation. It further helps to understand visual content to help curate and search large video collections.
Example: Google’s new video intelligence API allows users to run a simple search, say “beach” and the machine learning API helps find videos with scenes that has beaches in them, complete with timestamps. It is designed to allow users to upload a video and get information back about what objects are in it, using the label detection technique.
b. Targeted advertising and marketing
AI and DL will enable brands and agencies to move away from traditional mass marketing messages to creating more engaging and truly personalized advertising. AI helps in creating unique adverts in out-of-home campaigns that adapt to user reactions. Current research efforts are focused on pushing the boundaries by integrating live interaction and facial recognition using AI techniques to enable levels of user engagement that were hitherto not possible.
c. Personalized content management
AI can enable media companies to personalize content and make viewing experience differentiated and exceptional. Cognitive tools are currently used to interpret user sentiments toward audio and video content and automate identification of key moments of interest. This will lead to companies offering personalized services to serve individual interests.
5G network, with its flexible, software-defined system, is expected to handle more data and complex computation, providing global businesses with unprecedented insights and abilities to drive a radical change in the next 5 years. By pooling bandwidth, 5G will be able to boost network range and speeds up to 10Gbps and more, to support new applications such as live personal 3D broadcast from mobile services, 4K streaming, broadband to the home across digital media and broadcasting industry.
With growing media consumption via host of smart devices, enterprises increasingly require higher data transfer rates to provide high resolution content simultaneously to connected users with very high quality of service (QoS). Further, social media platforms such as Facebook, Instagram, and Snapchat, are driving the need for higher uplink data rates. 5G technologies play a vital role in meeting the industry requirements by integrating different network technologies like unicast, multicast and broadcast, to facilitate efficient delivery of service to end user with high QoS. Core areas of impact include:
a. Content Creation
5G will impact media consumption through tremendous improvements in transmission speed, quality, and reliability. The almost zero latency levels provided by 5G networks will enable live streaming of sports and live events. Also 5G will feed the users with virtual reality content, thereby compelling the creators to drive innovation in content.
b. Value Chain Impact
With onset of 5G, more consolidation is likely within media and broadcast industry. Tech companies like Facebook, Google, and Amazon are already exploring opportunities with network and service providers to gain competitive advantage in the digital media and broadcast sector.
c. Content Consumption
5G will drive a major change in download data transfer rates bringing it down to microseconds, thereby providing high-quality media experience everywhere to the users. Also, it will reduce the download timing delays and will lower the content download cost, thereby providing feasible content to viewers in near future.
Blockchain looks to address some of the key challenges pertaining to cost, privacy and copyright infringements within the digital media and broadcast industry. Research and investments within media enterprises have led to advancements in areas of media streaming, managing customer relationships and licensing. Key areas of impact include:
a. Pricing Models
The technology is capable of resolving prevalent issues by introducing blockchain based payments and contract pricing models. Blockchain based micro payment model will eliminate the transaction cost and will enable user to pay in micro-cents which will favor both the users and the content owners.
b. Content Aggregation
The digital media ecosystem is complex and involves various stakeholders. This reduces the margins for content creator and also incurs additional cost for end users. Blockchain with its ability to track content usage and micro payments pricing model can facilitate direct relationship between content creator and user, thereby reducing the cost significantly with elimination of content aggregators.
c. Piracy and copyright infringement
Piracy and illegal content sharing remains a major concern for media entities. Blockchain will provide content developers with full visibility and tracking of content consumption. Blockchain will allow controlled peer to-peer content distribution and will charge the usage fee directly to the user for any shared content, thereby stopping copyright infringement and piracy. This will enable distribution of royalty payments to respective copyright owners in case of any security or copyright breach.
Technology Convergence will Create New Opportunities Moving forward, convergence of technologies and new capabilities will remain the core theme in order to achieve transformative businesses and operating models. Technology convergence will create tremendous opportunities in the future to eradicate piracy and reduce latency. Some of the key disruptions that we foresee within digital and broadcast media industry include:
Integration of advanced analytics and DL will deliver human-like reasoning and incremental intelligence, which will reduce the job of human analysts;
- Further advancements in DL and neural networks will enable entire production and creative plans to be auto-fed by AI systems. These advancements will further enable creation of dynamic news articles and personalized advertisements;
- Convergence of blockchain and AI can revolutionize content licensing, IP transactions, and consumer payments. For example: Blockchain will be used in music streaming platform to avoid illegal downloads of music and videos;
- Next generation video delivery will gradually move away from one-dimensional displays to experiential viewing. 360 degree cameras are noted to be gaining huge popularity among consumers and will be increasingly adopted by broadcasters and studios. The use of 360 degree cameras along with products such as drones will help content producers create a complete view of a scene at lower production costs.
The focus of ‘digital’ enterprises within media and broadcast industry will remain on creating newer experiences and content, personalized for the consumer. Technologies at best, will serve as a medium in achieving the goal aforementioned and to empower the consumer.