Read about key industry trends we found interesting at NAB 2016
PFT recently returned from their 6th successful outing at the NAB Show, the world’s biggest trade event for media and entertainment industry technology professionals. The NAB Show is a must visit event as all the major product announcements and technology innovations of the year get unveiled at the Las Vegas Convention Centre during the 5-day meet. Participating at the NAB Show is always a great learning experience for the entire PFT team, and this year was no exception. In between a host of action-packed meetings, we also got to attend the conference sessions which allowed us to listen in to some of the greatest business leaders, technocrats and inventors of our industry have key industry trends we found interesting are below:
Organizations are recognizing the fact that hardware is not the way to move forward, software is! Click To Tweet
1.Media ERP: The Power of ONE Software for the Enterprise In today’s increasingly connected world, M&E enterprises are fast realizing that using multiple, disparate workflow systems only escalates costs and impedes operational efficiencies. Content owners are now looking to switch over to ONE software across the enterprise - a Media ERP system specially tailored for the M&E industry. A solution that will virtualize their content supply chain, fuel creative collaboration, enhance operational efficiencies and maximize revenue opportunities. This, supported by a hybrid Cloud platform that delivers speed, consistency, scalability and distinct systems. Virtualization/Cloud services has been in the top five rankings of Devoncroft’s Big Broadcast Survey Technology Trend Index since 2013. But M&E enterprises are now recognizing that simply moving applications to a cloud-based platform is not enough. To harness Cloud technology effectively, they need to be able to digitize their enterprise, automate it and build a connected ecosystem. Organizations are recognizing the fact that hardware is not the way to move forward, software is!
2.OTT, 4K, VR, AR & Much More: The Next Generation of Entertainment Today’s consumers are growing up with digital television, internet, tablets, smartphones and virtual reality headsets. They are more technologically savvy than ever before, constantly adapting their lives to keep pace with digital advances. OTT platforms have become popular and the number of people using OTT video has increased by leaps and bounds. 4k has taken television viewing to a completely new level, offering a higher display resolution and enhancing image clarity dramatically. Immersive content is increasingly being talked about as the future of storytelling, and virtual reality, augmented reality and 360-degree video are the new M&E buzzwords. For content owners, these rapid technological advances often create challenges, as they need to constantly realign workflows to meet new demands. They are often caught in a balancing act, attempting to maximize revenues while trying to strike a chord with the new generation of Digital Next viewers. Implementing solutions that support creative enablement while enhancing operational efficiencies and boosting monetization is now top priority for M&E industry CxOs.
3.Metadata: The Key to Content Discoverability Metadata is the key to transform any image or audio-visual into a dynamic asset.With YouTube users uploading 72 hours of new video content every minute, the digital space is crammed with millions of videos. And metadata is key to ensure easy and optimum discovery on search engines. Far from the afterthought of administrative tagging, it is critical for digital asset management and ensuring the effectiveness of digital content today. Effective metadata creation goes beyond format, duration, synopsis, cast, crew, and locations. It needs to be created according to scenes, songs, characters, emotions and other detailed parameters as well. Tagging is important for every scene and in some cases every shot and even frame. Metadata is a crucial aspect of cataloguing and archiving of assets as well, since it facilitates easy reuse of content. M&E enterprises are now viewing Metadata creation as a highly valued service, recognizing its importance in boosting viewership and maximizing profits.
NAB Show 2016 was abuzz with a host of other exciting topics as well, some of which are listed below*:
- Virtual Reality, Augmented Reality, Immersive Content and 360-Degree Video–Challenges in production and distribution of new-age formats
- The Era of Drones–The advent of smaller, affordable, higher quality drones
- Social Media & its Impact on Television Ratings–The role of social media in measuring viewer activity and fan engagement
- The Evolving OTT Landscape– The future of OTT vs. linear television
- Ultra HD & High Dynamic Range –The emergence of formats like 8K UHD, and sailing through this time of transition
- IP:Redefining Live Production–Handling the disruptive shift from SDI to IP in live production
Other M&E trends discussed at the event included the monetization of mobile video content, the importance of customer data in personalizing viewing experiences, the challenges for newcomers when it comes to OTT and many more!
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