Media Industry Predictions 2023

The media industry, like many other sectors, is constantly changing, and changing fast!

So, the DPP has published media industry predictions 2023. This is the seventh year it has done so.

The predictions are business focused and they explore the themes that are expected to dominate the boardroom agenda this year.

“This will be the year to control what can be controlled, and make yesterday’s spend the basis for today’s income.”

The report’s predictions emanate from the five key topics outlined below.

AI and Automation 

ChatGPT hit the ground running in November 2022. Within five days, it already had one million users. Generative AI can be applied to computer code, graphics and image generation as well as text. 

Overcast uses AI to transcribe the audio content in a video and to identify people, places, things and events in videos and images.

“People want as many processes automated as possible. And sometimes it requires AI and other pattern recognition to ensure that things are automated successfully — because the number of people who need to touch content and work on it is a huge operational problem.”

While the speed of adoption will be determined by issues such as regulations, privacy and accuracy, the overall prediction is:

Content aggregation and monetisation 

FAST (Free Ad-supported Streaming Television) channels are not new, but were predicted in 2022 to grow in significance. This year, some contributors to the report believe that the traditional linear broadcasters will become more engaged in FAST. One commented, “FAST will grow up.”

“FAST does tick the economics bucket, but it also ticks adaptability: what have I got, what can I reuse? It’s going to be something that the linear broadcasters explore more and more as a way to monetise and to begin their transformation into a future of converged platforms.”

At Overcast, we are big fans of re-purposing content. Our video management platform allows your entire team to effortlessly find, access and edit every video asset for reuse. 

Two predictions came out of this topic:

Organisational transformation 

One of the new themes for this year was transformation — with the focus on the way technological innovations of the last few years are now becoming business as usual. 

“Transformation is continuous. It’s not a thing. It’s the thing that you’re always doing. We’re never going to climb that mountain. You think we’re climbing and we’re going to get to the top. But that’s never going to happen. That mountain will only get longer and further away. That’s just the reality of business today.”

So, the key takeaway is:

Environmental Sustainability 

Sustainability is very important to us here at Overcast. We have removed the need for hardware in the compute and storage elements; therefore, there are no carbon increases due to manufacture, utilities, shipping, air conditioning and physical security.

The DPP report says that there’s been a shift in emphasis around sustainability: it is now regarded as a desirable benefit of reducing costs — not as a strategic imperative that must be delivered even if it adds to cost.

“This is the year where we’re finally going to have an adult conversation about how we deliver environmental sustainability in an economically sustainable way, because to date, we’ve paid lip service to it. We’ve been ticking the box of sustainability. And the only way to move beyond that into actually delivering real change is by focusing on actions that have an economic impact, and the environmental impact will come along with that.”

In other words:

Cloud-enabled consumer engagement 

We’ve been banging the drum about the superiority of cloud-based video systems being easier, faster, cheaper, more efficient and more secure for years…since we launched, in fact — since we provide a cloud-native video management platform.

The contributors to the DPP report discussed how cloud technology is now enabling deeper consumer engagement. 

“Cloud-based video production has completely dropped the barrier for direct to consumer [D2C] and fan engagement. It’s enabling sports teams to go D2C. So D2C has become more accessible with cloud based technology.”

The DPP prediction for 2023 is:

Find out more

There are lots more fascinating insights in this report. You can read the DPP’s media industry predictions 2023 in detail here.

Get a free demo

If you’d like to accelerate your transformation towards more agile video production, collaboration and management, get in touch today for a free demo of our platform.

The Secret To Great Remote Working Video Collaboration

Remote Working Video Collaboration

Innovation is essential in today’s fast-changing technology-dependent business environment. An ever-increasing number of companies are using video for marketing, sales, internal communications, training, tutorials, and many more business functions.
But video requires collaboration and we’re in an age where remote working is more the norm than the exception. So, how can teams collaborate effortlessly on video if they are in separate locations? Introducing

DPP Innovation Week

At DPP Innovation Week 2021, Overcast CEO Philippe Brodeur made a presentation about Media Workflows — in a line-up that included Red Bee Media, Reuters, PBS, BBC, RTÉ, ZDF (German broadcaster), BT, Signiant, and A+E Networks.

In just 3 minutes, Philippe explains how your team can collaborate on and manage video easily and cost-effectively. 

Get in touch

Overcast provides services at all budget levels. So, to find out more and get a demo, contact us on  info@overcasthq.com or click here to get in touch. We look forward to making your life easier!

Content: The Localisation Challenge

In this world of streaming video, the demand and opportunity for content targeted at global markets is continuing to skyrocket. But the total money available in those markets is lagging behind. A key challenge is the versioning and localisation of that content.

What do these terms mean? Most of the content produced has to be versioned for the various platforms and services on which it will be distributed. Most of it will also be ‘localised’ — that is, prepared for consumption in another territory — this can include adding foreign language subtitles and soundtrack, and re-editing to comply with regulatory and cultural requirements. 

“The scale of the localisation process is immense. For every asset we create, we can have up to 16 different versions to cover all the regulatory requirements of our various markets. Now, across our consumer-facing international brands alone, we create thousands of hours of original content a year. Multiply that by up to the 16 versions; then multiply that by the number of languages, and then by the different audio dubbing and subtitling requirements. Add in the internal video editing that may be required to make the nuances of storytelling work in different territories: it quickly becomes millions of assets. And that’s before we get into promos and short form.”

— James Crossland, SVP International Operations, Warner Media.

So, what’s being done to address this immense challenge?

The Digital Production Partnership (DPP), a media industry business network, brought together twenty-two senior executives in a special roundtable event titled ‘The Localisation Challenge?’ at IBC 2019 in Amsterdam. The companies represented were: A+E Networks, Amazon Web Services, Apple, Deluxe, Disney, Eluvio, ITV, NHK Archives, PBS, Pixelogic, Prime Focus Technologies, SDI Media, SDVI, SES Video, Sky, UKTV, Videomenthe, Vubiquity, WarnerMedia, Zoo Digital and ZDF Enterprises. 

The roundtable generated the following three key insights.

1. Maturity in internal business relationships 

There’s lots of content being delivered, but…oops!…it’s not compliant with delivery requirements. And…double oops!…it’s not suitable to be prepped for versioning and localisation. Is this because there are no clear standards for deliverables in the media industry? Well, partly, but it’s mostly because people don’t want to upset the apple cart among the creative and commercial teams. 

Solution: Companies need to incentivise and build more productive relationships between different parts of their business.

2. Building trust into what we receive

We’re naturally inclined do business with people we know, like and trust. But when a piece of content is passed from one content provider to another, the receiving company may find that it’s technically inferior to what was promised. This means that even well-established, high-quality media companies don’t trust each other.

Solution: Use a cloud-native central library and agreed specifications for assets.

3. All content should not be equal 

All content is, in effect, tiered at the point of commission. In the pre-streaming world of linear distribution, tiering was based on the schedule: ‘daytime’, ‘peak’, ‘post-watershed’, and so on.

In this new world of on-demand, tiering is more difficult to identify. But, in reality, budgets alone still create tiering. 

Solution: Media companies should reflect the reality that all content should not be equal in the way they manage the onward processing of content. Some content is simply more valuable and should be treated as such.

DPP Tech Leaders’ Briefing

The who’s who of the media industry will converge on London for the DPP Tech Leaders’ Briefing. Overcast CEO Philippe Brodeur will be there on 13th and 14th November and is be delighted to meet you and illustrate how your company could save time and money on more effective media asset management and internal collaboration.

Why Meet With Overcast?

A) Cloud Native

We get it. You want your applications to run more effectively together. You want this workflow to elevate the productivity of your team. So you sign up with a cloud provider and use it to run your existing applications. Problem solved, right? Not necessarily — like content, not all cloud solutions are created equally.  

So why is cloud-native important? Each part (applications, processes, etc) is packaged in its own container — this means your activities, actions and workflows are optimized for the cloud. And that ultimately means less cost and less time fussing about with legacy technologies.

(B) Managed Software as a Service

Managed SaaS is all about being able to create a tech stack. It allows you to integrate best-of-breed solutions, which ultimately allows you to manage your digital assets with maximum flexibility.  

SaaS, while it incurs a subscription charge, is significantly more cost-effective since you’ll save on hardware, licences, tech support, and scaling up.

(C) Tech-enabled services

On a cloud-native platform like Overcast, we segmented our application into microservices. This means they are significantly more agile and maintainable. Crucially, a tech-enabled service empowers you to redesign your workflows for speed and cost reduction. Oh — and it means you can pick and choose what you want so there’s no need to buy a whole tonne of software you would never use.

Contact Us

Please email Philippe on philippe@overcasthq.com if you’d like to pick his brains in London.

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