To adapt to the disruption brought on by the rise of OTT video, content providers will seek integrated video solutions to minimize costs, streamline processes and provide growth opportunities at every step in the video lifecycle.
That’s the main finding of a new research report released by video analytics specialist Ooyala and Futuresource Consulting, a research and consulting firm for the media and entertainment industries.
The report identifies common concerns and challenges raised by the new era of TV and its digital transformation to OTT delivery. According to the report, all participants agree OTT is necessary to match audience demands and grow video businesses. However, that trend is putting new pressures on finance and resources, including:
- The integration of, and interoperability between, new and legacy infrastructure
- The need to produce more with limited or no increase in investment or ongoing spend
- The management and distribution of an ever-rising number of OTT video endpoints
- The lack of standardization and automation of metadata
- The underutilization of metadata to improve experiences, enable personalization and, subsequently, achieve greater monetization
Futuresource finds that fully optimized integrated video solutions that connect disparate systems and workflows is essential to reduce the mounting pressure from OTT. Operators will seek greater efficiencies and economies of scale at every step in media operations, from production to distribution.
Respondents are turning to automation for improved productivity across production workflows and metadata insertion. Further, greater data collection from OTT viewing will reduce risk in content investments, as acquisition and commissions are more tightly aligned to consumers’ viewing preferences.
“Due to the many hurdles to still overcome, most media and broadcast organizations are not yet fully realizing the potential of integrated video solutions and automation,” said Adam Cox, head of Broadcast Technology at Futuresource. “The continued rise of multi-platform content delivery is placing ever greater pressures on operations. Therefore, a successful approach to absorbing initial investment and operating costs, in addition to seeking alternative monetization strategies, is imperative.”
“The report is indicative of the sheer complexity that content providers face in today’s world of global audiences, global operations and global opportunities,” said Ooyala co-founder and SVP of Products and Solutions Belsasar Lepe.
The full report, “The Lifecycle of Content: From Production to Monetization,” can be downloaded here.