For most media companies trying to adapt to the change, the large issue is technology—specifically, the digital platforms and technical skills necessary for traditional media companies to play within the new game. And it’s not just any game, but a fast-moving, rapidly evolving contest within which digitally enabled capabilities like the speed to promote of recent functionality (options for integrating advertising, for exmpl) & instant modifications to consumers’ usage of content (such as social media integration) are as demanding to success as traditional creativity and content production.
Broadcasters have a robust asset within the content they produce and distribute, but they need to embrace the technology enablers that tech companies employ if they're to remain relevant to audiences and take advantage of today’s opportunities. Most are hampered by legacy IT systems that struggle to meet digital demands. Media companies must transform their core technology to remain within the game.
It’s now not enough to deliver a success show or a preferred live event. Content distributors today have to manage a seamless user experience across multiple devices with very different formats and capabilities (TV, laptop, and mobile devices, for example), as well as to offer device-specific use cases for content. At a basic level, especially for younger viewers, a smartphone is now a viewing device (as well as a TV device and a tool for voting on content or registering program feedback on social media). The TV itself can integrate social media and supply local storage for time-¬shifted consumption. New devices and technologies, like wearable and computer game, up the ante considerably.
Challenges and opportunities
- Content Replication
- Intellectual Property Right
- Personalized Content
- Integration Across Multiple Platform
- Monetizing Content
- User Experience
- Retaining Customer
- Higher Engagement
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