Cloud, AI and IP driving broadcast and media technology

IABM report: "Change is everywhere" The increasingly crowded and competitive media and broadcasting industry is consolidating and searching for scale to compete with firms adopting new technology to support its transformation, an IABM report finds. Leading the industry transformation is the demand for new technology to support efficient workflows, manage content distribution, enhance the user experiences and support revenue growth. "Change is everywhere," according to the latest strategic industry analysis, the IABM Special Report which examined the major trends in the broadcast and media industry ahead of its presentation during IBC2019. With the escalation of OTT streaming services and the continued influx of money invested into video content, traditional media companies are consolidating and forming alliances to remain competitive. The report outlines: "This increasingly competitive and complex environment is forcing media companies to search for digital speed to attract eyeballs to their services. "This is leading to a rapid transformation of demand for media technology, which is sending shockwaves throughout the supply-side of the industry." Based on hard data obtained and analysed by the IABM's Business Intelligence Unit, the report was backed by quantitative and qualitative information and commentary from key players across broadcast and media industry. The report found the technology adoption of cloud, artificial intelligence (AI) and IP have continued to increase. "By deploying cloud-based services, media companies can dramatically reduce time-to-market for their services – thus increasing revenues - and flexibly adjust resources by moving to consumption-based pricing." Global media firms including Discovery have moved portions of their operations to the cloud, however smaller media organisations remain less likely to do so. According to the data: "AI applications in the broadcast and media industry are growing and adoption has significantly increased in recent years.