The shift in content consumption patterns towards digital platforms is too massive to ignore. It was reported in a recent study that OTT (over-the-top) services doubled their hours of content offerings over the last 12 months.
As the demand for content grows, changes are needed in the way video is produced, managed and distributed. Producers should no longer be tied to individual solutions from multiple vendors, nor legacy systems that cannot be integrated and are too critical to risk replacing either.
Here we enter an era where the power is in the hands of producers to remold video production.
The Content Battleground
The big players know that content is king and the kingmaker. The large amounts spent on producing and acquiring content is testament to this – Netflix spends USD8 billion, HBO spends USD2 billion, and Facebook and Apple both spend around USD1 billion.
But simply having content is not the be all and end all. Regardless of size, media companies are also searching for strategies to supply the best content to relevant audiences via the most suitable channel and in the appropriate volumes.
Yet, not all players have the same multi-billion budget to produce and acquire the amount of content that can attract audiences and sustain their interest. They need to be strategic with their content and what they do with it to make the most of their video investments and stay in the game.
The Simple Solution - The Ooyala Flex Media Platform
With this tidal wave of content in the marketplace today, media companies need a simple solution - the Ooyala Flex Media Platform - to simplify, streamline, and connect their entire content supply chain. The modular platform can be customized to meet specific needs and connects the production process from planning, curating, orchestrating to publishing, monetizing and analyzing media content.
With an integrated content supply chain ecosystem, companies can then harness the metadata that runs throughout any or all of these operations to create and deliver the robust and targeted content that they need today. The analytics generated will help them deliver and create more relevant content and deepen business insights. Last but not least, media owners will also gain efficiencies through business-led automation so they can do more within existing content footprints and budgets.
Data-driven platforms and workflows enable content providers everywhere to achieve scale and efficiencies cost-effectively and level the content playing field against larger companies. They can run their media operations strategically, drive their digital transformation, and remain in the game. In today’s dynamic content environment, these capabilities are vital to survival.