Streaming for creators of channels and broadcasters
The days when media content consumption was based on scheduled, linear programming are long gone. With low-hanging fruit for those who embrace this wave of change, the move towards over-the-top (OTT) delivery has signaled a significant recalibration in the way broadcasters and channel originators reach their audiences. These companies are in a good position to adopt new technological workflows and establish themselves as the source of interesting and captivating entertainment content, even as the industry continues to change quickly.
Broadcasters and channel creators have a plethora of opportunities to integrate internet-based technologies into their marketing strategies. First off, OTT is becoming a more popular option for advertisers seeking an efficient way to connect with their target markets. According to BIA Advisory Services, over the next four years, OTT local ad spending is expected to double, reaching $2.37 billion by 2025 from $1.18 billion. Second, streaming facilitates two-way communication between the broadcaster and its audience, giving it a deeper understanding of the market and the ability to provide engaging content.
The move of live content to OTT
One of the most forceful forces propelling the growth of the OTT market is the shift away from Pay TV models. According to data from Digital TV Research, OTT market revenues are expected to nearly double globally to $210 billion by 2026. A significant shift in how consumers seek out live content is being brought about by the rise of OTT Direct-to-Consumer (D2C) as the main consumption model for live sports. Since broadcasters and channel originators have historically been the main suppliers of this kind of content, these trends have a big impact on how they are positioned within the media ecosystem.
Expectations for improved features like co-viewing, player data, and integrated analytics are rising as this migration progresses. The latency of the live feeds must be drastically decreased by broadcasters in order to match traditional broadcast experiences. On a streaming platform, a live sports game currently has a latency of about 30 to 45 seconds. Reducing this time to roughly 5 seconds is necessary for OTT to become a long-term viable live content delivery mechanism.
As the transition to D2C continues, broadcasters and channel creators have a number of opportunities to take advantage of. Within OTT D2C streaming, new revenue models are emerging. One such model is the possibility of substituting more targeted, dynamic, and programmatic advertising for commercial breaks. Broadcasters must, however, comprehend the technological and regulatory environment in light of the OTT extension, particularly the necessity of improving the efficiency of their IP-centric infrastructures and traditional linear channel distribution as they transition from on-premise hardware deployment to the use of public/private clouds.
Making the Most of the Content
Reimagining linear TV is another trend that's changing the media landscape. Although some in the industry prematurely said goodbye to certain aspects of linear viewing due to the emergence of subscription services, Free Ad-Supported Streaming TV (FAST) services like Hulu, Xumo, Pluto, and Peacock are showing otherwise. Instead of being traditional linear TV, these resurrected linear services are just on-demand playlists or video clips that have been synced and disguised to look like linear streams. For broadcasters looking to make the most of their content libraries and efficient use of their resources, they are an immensely valuable tool.
Advances in machine learning (ML) and artificial intelligence (AI) are also turning into profitable instruments for broadcasters, allowing them to infuse the abundance of historical content with the modern user experience. The principal technologist at MediaKind describes in this blog post how machine learning (ML) can perform sophisticated up-conversion of high-value library content. Neural networks are used to produce up-converted images that resemble native UHD images more closely. With the help of this technology, UHD channel viewing experiences can be provided that are noticeably better than HD services.
Growing popularity of social viewers
Even though binge watching is becoming commonplace, channel creators, content owners, and broadcasters are starting to place more value on event-based television, such as reality TV or cliffhanger dramas. This kind of content offers fresh chances to increase audience share and use novel revenue strategies. Broadcasters can effortlessly incorporate additional live channels, recorded content, and create a social viewing experience for super viewers, regardless of the type of show—a popular drama series finale or the Love Island season finale.
Whether it's Disney or the BBC, a lot of broadcasters seem to aim for this kind of live experience, releasing new episodes during primetime and ending the binge-watching habit. These events are discussed in real time on social media and must be watched live. Broadcasters can genuinely engage an audience and create new revenue streams by producing more content.
Including engaging companion content will draw in more viewers and increase interaction. Without having to pay for all of the upfront buy, build, and provisioning costs, broadcasters can quickly and affordably monetize these scheduled streaming events through the public cloud before bringing them to the market and consumers. See MediaKind's application paper, "Ready. Set. Stream!" for additional information on this.
A way to involve the industry
In order to deliver OTT streaming scheduled live events in parallel with their broadcast on a linear channel, broadcasters and channel originators now need to adopt new technical solutions and workflows.
In order to facilitate this, MediaKind is developing user-friendly services that are deployed as-a-Service (aaS), taking care of the technology's infrastructure and lifecycle, and letting broadcasters and channel creators concentrate on the content.For channel creators and broadcasters wishing to start scheduled event-based streaming experiences, MediaKind Engage offers a comprehensive workflow. Contribution encoding, production, playout, live and VOD streaming, advertising, and the provision of the best possible platform for fan and audience engagement are all included.
The biggest benefit for broadcasters and channel creators is that they own the most valuable asset in the equation: content. The adage "content is king" holds true regardless of the amount of technology used. The degree to which broadcasters can take advantage of cloud and pay-as-you-go, SaaS-based architectures will differ. To stay competitive, all participants in the media ecosystem must be at the top of their game. With dynamic cloud-based platforms, broadcasters have no obstacles to overcome.