Video analytics key to competitive streaming TV strategies
An effective media management strategy hinges on data. As video becomes an increasingly essential player in today's environment and streaming TV grows, video analytics is crucial to continued success in the media and entertainment (M&E) space.
For years, M&E companies had relatively few metrics to work with besides Nielsen ratings. Today, the industry is quickly moving toward cloud-based asset management. Companies that adopt this technology will have better visibility into how their properties are faring, which will lead to more effective media management and distribution.
Streaming TV and leveraging mobile devices
Consumer needs and expectations have changed radically in recent years. People are consuming more digital content than ever, including streaming TV, and they often access these materials from mobile devices. According to Telecompetitor, digital media consumption on smartphones has increased 394 percent over the past four years.
To keep pace with customers, the M&E industry needs to embrace digital asset management systems that keep track of files, streamline creative processes and establish workflows. This type of asset management is often based on enterprise services and business process management systems. While that works as a stopgap, a truly comprehensive system will help M&E companies by aiding creative professionals, managing media and distributing content.
Getting better business insights from data
Another perk of cloud-based video programs is that they provide analytics on video consumption, helping M&E companies get a better read on how viewers are consuming content. The potential of these insights is significant.
Deep video metrics can provide an accurate read on performance issues for streaming TV like rebuffering, dropped frames and bitrate. The data can also show which content viewers are abandoning and when and track caching delivery results. Other analytics can help M&E companies learn more about their viewers, including location, preferred type of content and their various devices and platforms.
In short, video analytics can provide the sort of real-time insights that Web-based media has enjoyed for years, allowing for better-informed decisions that aid production, cross-channel distribution, customer service, business support and the overall media management strategy.
How the NFL manages its media
In the media and entertainment industry, the process of moving video from the creator to the end user can be especially complex, and the new, varied expectations of consumers can make distribution a challenge.
However, strategic use of analytics, both from media content and other external sources, can help M&E companies plan efficient and effective distribution. A good example of this is the National Football League. Michael North, senior director of broadcast planning and scheduling for the NFL, explains that "there are a myriad of other metrics for what creates a quality NFL season," including radio and online listenership, website traffic, Twitter usage, highlight sharing, on-demand and attendance. Using a cloud-based system, the NFL is able to take all these data sources into account to create half a million potential game schedules to select the best possible lineup based on viewer preferences.
The implications of upcoming digital asset management technologies for the M&E industry are multifold. No one knows how consumer media habits may evolve in the future, but with the right analytics in place, it's possible to anticipate shifts and adjust your media management strategy accordingly. Discover how IBM Analytics is enabling media and entertainment companies to provide audience members with more personalized viewing experiences and targeted on-demand advertising by leveraging advanced data analytics via IBM Behavior-based Audience Insight for Media and Entertainment, a pre-built solution that provides a 360-degree view of the consumer.