As OTT services mature, the volume of media assets that could potentially be presented to viewers can grow considerably.
Videos in OTT services may be produced or licensed from partners and may have complex metadata files and additional assets like images, mezzanine versions, and promotional trailers accompanying them. As media assets get managed between their availability windows for streaming and archives, operational teams want a storage and management strategy that is efficient and secure and provides visibility, discoverability, and speed to help with effective service programming.
OTT.X recently invited Backlight's EVP of Strategic Partnerships, Ed Lacynski, Director of Product Marketing, Keara McCarthy, and EVP of Product, Mike Szumlinski, to provide an overview of how different OTT companies manage their ever-growing media assets and dive into key findings from Backlight’s 2024 iconik Media Stats Report.
Watch the full on-demand webinar below and keep reading for a peek at the key findings.
Key Findings from Backlight's 2024 iconik Media Stats Report
As discussed in the webinar, Backlight's 2024 iconik Media Stats Report provides valuable insights into the media industry trends. Keara presented some of the key findings from the report:
Trends in Data Migration to the Cloud
Firstly, it’s no secret that data migration to the cloud has become a prevalent trend among businesses across various industries, or rather 18 industries, to be exact, in the case of iconik.
Organizations recognize the numerous benefits of cloud migration, such as enhanced scalability, cost-effectiveness, and improved accessibility to data from anywhere in the world. This trend is also driven by the need for businesses to adapt to a rapidly evolving digital landscape, as well as an increasingly remote workforce and the need to leverage cloud technology for streamlined operations.
Rising Demand for Video and Rich Media
The demand for video and rich media content continues to soar, with consumers increasingly turning to visual and interactive formats for information and entertainment. Backlight's report underscores the growing influence of video marketing and multimedia content in engaging target audiences and driving user engagement.
Businesses are leveraging the power of video to create compelling brand stories, showcase products or services, and connect with consumers on a more personal level. The report reveals that video content is popular among consumers and yields higher conversion rates and ROI for businesses that incorporate it into their marketing strategies.
Moreover, the rising demand for rich media content, such as interactive visuals, infographics, and immersive experiences, reflects a shift towards more dynamic and engaging digital experiences. Companies are investing in creative content production to differentiate themselves in a competitive marketplace and capture the attention of their target audience.
Sports fans have become increasingly demanding when it comes to consuming content related to their favorite teams, players, and events. Meeting fan expectations for timely and high-quality content poses a significant challenge for sports content managers who need to deliver engaging and relevant stories quickly.
Content creators in the sports industry are constantly under pressure to produce fresh and captivating content that resonates with fans across various digital platforms. Leveraging data analytics and audience insights can help sports organizations understand fan preferences and tailor content strategies to meet their expectations effectively.
Shift towards Hybrid On-Prem and Cloud Storage Solutions
As organizations seek to balance the benefits of on-premises infrastructure with the flexibility of cloud-based solutions, a trend towards hybrid storage environments is emerging. Backlight's report highlights the advantages of hybrid storage models that combine the reliability of on-premises data centers with the scalability of the cloud.
Hybrid storage solutions offer businesses greater control over their data while enabling seamless integration with cloud services for backup, archiving, and disaster recovery purposes. This approach allows companies to optimize storage resources, reduce operational costs, and enhance data accessibility and availability.
Furthermore, the report emphasizes the importance of strategic planning and implementation of hybrid storage solutions to address the evolving needs of modern businesses. By leveraging a combination of on-premises and cloud storage capabilities, organizations can balance performance, security, and scalability to support their digital transformation initiatives.
Head what Laczynski says about how this shift has impacted content managers at OTT companies.
Where Media Asset Management Platforms Come in
Media asset management platforms, like iconik, are vital for organizations looking to streamline their content storage and management processes. They offer many benefits that can significantly improve efficiency and enhance overall operations. Let's explore some of the key advantages of utilizing these platforms:
Central Source of Truth for Content Storage and Management
One primary benefit of media asset management platforms is that they provide a central source of truth for all your digital content. Instead of scattered files across various folders and drives, everything is organized and easily accessible in one centralized location. This saves time searching for specific assets and ensures consistency and accuracy in the content used across different projects.
Affordable and Beneficial for Organizations of All Sizes
Contrary to popular belief, media asset management platforms are not just reserved for large corporations with hefty budgets. Many providers offer solutions that are not only affordable but also scalable to meet the needs of organizations of all sizes. Whether you are a small startup or a growing enterprise, investing in a media asset management platform can bring significant cost savings in the long run through improved productivity and smoother workflows, not to mention the advantage of increased collaboration between teams with a streamlined review and approval process.
Integration with Various Sources for Efficient Operations
Another major advantage of media asset management platforms is their ability to integrate with various sources and tools. Whether connecting with your existing creative software, social media platforms, or cloud storage services, these platforms streamline operations by facilitating seamless communication between different systems. This integration boosts efficiency and minimizes the risk of errors and delays in content delivery.
Overall, media asset management platforms offer various benefits that can revolutionize how organizations store, manage, and utilize their digital content. By providing a central source of truth, being affordable and scalable, and integrating with various sources, these platforms empower businesses to optimize their operations and stay ahead in today's fast-paced digital landscape.
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Want to dive into the webinar further? Watch the full version here or access the Media Stats Report, and then stay tuned as we continue to break down the OTT.X webinar. Our next post will delve into challenges in managing sports content.