Top Technologies Shaping Media & Entertainment
New entrants are challenging traditional players and new technology is enabling consumption and revenue opportunities that never existed. Ramki Sankaranarayanan, Founder & CEO of Prime Focus Technologies listed out the key industry trends that M&E enterprises can leverage in order to enhance efficiency, cut costs and maximize revenues in 2017.
1. Cloud Technology: An Increasingly Affordable Elixir
With Cloud infrastructure fast becoming more affordable, a larger number of M&E enterprises can now look forward to leveraging benefits of the Cloud in 2017. Switching over to the Cloud will also drive the need for deploying innovative software solutions that can handle distributed workflows. Such solutions will increasingly be based on Hybrid architecture, allowing content owners to retain their priceless assets with them locally, while applications (workflow and metadata management software) run on the Cloud. This in turn will ensure that the TCO (Total Cost of Ownership) is considerably reduced.
2. Enterprise Video Management: A New Approach
In today’s ‘TV Everywhere’ universe, videos have become the essential medium for brands to engage current and future audiences. Videos are also increasingly being used by large organizations for corporate communications, event streaming, training, knowledge sharing etc. This explosion in video content is only expected to accelerate in 2017. To help organizations make the most of their video content, advanced solutions will emerge in the Enterprise Video Management space. These will not only enable companies to conveniently store, upload, catalog, review, package, share and archive their video assets, but will go a step further. For instance, imagine a powerful search tool to locate videos not only on the basis of metadata tags, but also on the basis of words actually spoken or seen in the videos.
3. Media ERP: ONE Software for the Enterprise
The adoption of ONE software for the enterprise will be a game changer in the M&E tech space in 2017. Media organizations are increasingly realizing that multiple localized digital asset management systems across different departments and geographies only escalate costs and impede efficiency. Companies are now looking to switch over to an enterprise wide solution specially tailored for the needs of the M&E industry. This, supported by a Hybrid Cloud platform that delivers speed, consistency, scalability and distinct systems. The increased adoption of Media ERP will enable internal teams as well as external vendors to seamlessly collaborate across geographies, and perform content operations like Localization from anywhere in the world.
4. Metadata: The Key to Content Discoverability
The digital space is today crammed with millions of videos. Metadata has therefore become a crucial aspect of cataloging and archiving of assets, as it ensures optimum discovery of content on search engines and also facilitates easy reuse of content. 2017 will see the emergence of specialized solutions to help leverage metadata in completely new ways. For instance, solutions that discover the existence of ‘People, Places and Things’ have always existed, but solutions that can provide accurate results to determine actions, moods and emotions will need to become reality.
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