Trends in the Acceleration of Video Management Technology
Trends in Media Technology
Are digital natives planning to take over the world? You may well think so if you look at the media technology industry, where trends support an increasingly digital-native economy, as outlined in Silverwood Partners’ Media Technology: Strategic Industry Analysis 2022.
Video Production in a Remote Working Era
The COVID pandemic jump-started an era of mass remote working, which meant that content creators — who rely on collaborative processes — struggled with video management: searching for clips, reviews and approvals, tracking assets, transcoding, etc. This accelerated technological innovation…as tech companies raced to meet the needs of a broad range of video creators and media companies.
The Streaming Wars
The confinement of people to their homes led to another disruptive influence: audience numbers for streaming content skyrocketed. En masse, viewers cut the cord with traditional broadcasters and turned their eyeballs to Netflix, Disney+, Amazon Prime Video, Apple TV, Hulu and other streamers.
Upsurge in Video Marketing
Throughout 2021 the demand for content seeped into almost every industry and, in response, the creator economy became more sophisticated.
We’ve seen a significant increase in recent years in the numbers of digital-native ‘influencers’ and professional video creators as they build their personal brand through video. Add to that the rise and rise of video marketing among enterprises, and you get the picture: technology had to ‘fly fast’.
So, it was time to wave goodbye to video files stored on hard drives and face-to-face teamwork — it was time to embrace the cloud! Remote collaboration became a reality and will need to be a key part of enterprise strategy going forward.
Video Technology Innovation
Top-tier broadcasters and OTT providers require innovative media technology to differentiate themselves and fight for market share. The battle of the streamers is red hot after Netflix recently announced that it lost 200,000 subscribers in the first quarter of 2022 and expects to lose two million more in the second quarter.
Enterprises and video creators are also operating in a very competitive environment. Broadcast-grade technology such as Overcast’s video management platform — which facilitates effortless collaboration and an efficient workflow — will be essential to their survival.
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