The TV industry is chasing the biggest transformation ever, worldwide. And this digital tsunami is bringing media and entertainment industries new opportunities, challenges, and competitors.
The imperative is to understand and surf the wind of change, and be ready to re-position yourself in the new digital environment.
The digital (r)evolution enables new player introduction and also gives control to consumers—moving out of scheduling restrictions and often out of the TV itself.
The current transformation is multidimensional, affecting each department of current TV companies. To meet this situation and offer creative flexibility, you must become an agile enterprise without creating silos. Key transformation dimensions include:
- The new Internet business—Enabling consumers to be engaged with television content, including live and on-demand programming on connected video-capable devices, such as PCs, laptops, mobile phones, netbooks, and tablet devices.
- IP operation—Creating digital videos that are ingested inside production rooms where journalists and operators directly work to create assets to be classified and stored inside a digital library, enabling transcoding, secure packaging, and delivery to meet IP delivery needs.
The key questions to understand this transformation are the following:
How do you reposition yourself on the media value chain?
TV companies should adopt new business models that enable optimization and profitability of current assets and empower the company with new ways to make money quickly by leveraging new technologies.
- Identify new, adjacent potential business and become a digital aggregator, leveraging thirdparty content and service onboarding.
- Empower digital advertising business, delivering an advertiser-centric strategy to optimize advertising inventory utilization.
- Enhance products’ profitability using new/flexible digital monetization models, delivering best-in-class pricing and billing solutions.
How do you engage consumers?
Broadcasters should adopt a new relationship paradigm with customers, creating customer-centric
offerings, that leverage deeper knowledge of their own audience, empowered by new technologies.
- Interact with digital consumers, delivering targeted contents, advertising, and services, leveraging 360° consumer knowledge to improve customer base profitability.
- Provide the best customer experience to drive acquisition, loyalty, and retention across all channels.
Broadcasters should approach the Internet industry by adopting:
- New operating models—Address the cultural change; it’s affecting your organization’s processes, activities, and more
- Optimize the content production process by adopting a multimedia enterprise editorial factory approach
- Improve rights usage by reducing operational complexity caused by multichannel, nonlinear product, and supporting procurement activities
- New distribution models—Move from on-air broadcasting to network-agnostic delivery, leveraging natively digital assets
- Design a standard and optimized digital supply chain, manage end-to-end supply chain capabilities and fitting out solutions to speed up content downloads and manage the Quality of Experience
- Be everywhere on any device—deliver the right content to the right digital consumer
There is not a single recipe to understand how this transformation should be approached and how to maximize the investments in order to achieve and high ROI.
The suggestion is to proceed from strategy to execution:
- Understand the company of the future that inspire us,
- Understand the business that we want to lead,
- Understand the gap between what we can do and what we want to do. Is IT able to enable our future business?
- Define the big picture and design a strong archievable and measurable IT roadmap
- Execute it in an agile way in order to apply the appropriate route corrections.
After all, often IT departments of a Media company are not such mature to support business and the need of an IT partner raise. But how to choose the correct IT partner for Innovation? Who can assure strong vision and capacity to execute?
We will discuss it future posts
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