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6 Key Broadcast Industry Trends to Watch Out for in 2017

6 Key Broadcast Industry Trends to Watch Out for in 2017

With seemingly disparate events like mobile operators providing seamless unlimited data access to its consumers, entertainment shifting from television to video on demand, and web series gaining popularity over traditional content – 2016 witnessed some major shifts in the broadcast and media industry.

A sudden increase in the popularity of streaming services like Amazon Prime and Netflix and the younger generation’s was observed, leading to movement of TV audience to digital platform.

Let’s take a look at the key trends to watch out for in 2017 that would aid this lateral shift.

  1. Big Data Analytics for Viewer Insights

Big data analytics will help broadcasters analyze viewer preference and develop content accordingly. By accessing the large amount of data sets already in store, organizations can perform behavioral analytics of the views to understand the nature of content consumption and deliver accordingly.

Organizations will increasingly use big data analytics to build 360-degree audience profiles based on geographic, demographic, economic and psychographic attributes to understand various touch points and have better insights, thereby improving the entertainment experience for the end user.

Big data analytics will not only help broadcasters develop appropriate content, it will also change the advertising principles in the industry. By measuring ‘binge watching content’ more accurately using data analytics, companies can help advertisers package the right kind of experience to cater to different types of binge viewers.

  1. Virtual Reality Gets Mainstream

The recent announcement of Netflix to bring its programming to the VR realm, the popularity of Waze and PokemonGo are just the start. A report from Manatt Digital Media[1] projects that revenue from augmented reality and virtual reality will reach $150 billion by 2020. Going by the trend, in 2017, virtual or augmented reality will continue to reshape the face of the broadcast industry. By fostering shared moments and creating a shared space where people can share experience, virtual reality will gain momentum.

With programs like Proto-nominee Convrge that allow people to gather and watch YouTube videos together already in place, the broadcast industry will push this idea further to include streaming sites. While some genre of stories like science-fictions and fantasy are more suited for virtual reality that sitcoms and dramas, the industry is set to experiment more with different genres and take virtual reality to a new level.

  1. Increased Adoption of Over-the-top (OTT) Content

Industry reports[2] predict that by 2021, video will account for 70% of the mobile traffic. Forrester[3] forecasts that by 2025, 50% adults under the age of 32 will not pay for TV. Today, if we look around, the prediction seems believable. With viewers increasingly consuming content across devices anytime and anywhere, OTT seems the next big trend in the coming years.

More and more E&M companies are selling their content to streaming services such as Netflix, Amazon, and Hulu. With the streaming services gaining access to new originals as well as libraries of television shows and movies, OTT services are gaining a firmer grasp on the end-user relationship with their advertising free environments.

  1. Create Viewer-centric Content

As the broadcast industry opens up to more delivery options and devices, the packaging and distribution of the content will change significantly. With the viewers empowered to choose the content they want to consume, content curators need to find innovative ways to monetize content that not only attract eyeballs but create repeat viewers.

Creators will continue to move beyond traditional distribution channels and studios to create and retain consumers who are united by shared interests, ideas and experiences. Content creators/ curators will be more receptive of the likes and dislikes of viewers and create and distribute content to suit their needs and preferences, which will create loyal fans that are less likely to churn and have more spending capacity.

  1. Ultra HD/4K Production

2016 saw Netflix leading the 4K streaming with films like Ghostbusters and shows like Breaking Bad and the Blacklist. Amazon has also entered the league with its popular shows like Mad Dogs, Transparent, and Man in the High castle.  However, content selection now is limited with criteria for subscribers to access the content.

In 2017, Netflix and other streaming data broadcasters will continue to film or upgrade their new content in the 4K format. Content curators will create more 4K content and expects TV watchers make the jump to the higher-resolution standard.

  1. Internet of Things Gets Real

The broadcast industry is increasingly opening up to Internet of Things and beginning to see the benefits of connected broadcasting. Imagine your favorite program pausing by itself as your doorbell rings or you leave the room. Or taking cues from the surrounding like lighting and time of the day to choose program automatically based on your mood.

The future of IoT for broadcast industry looks promising. 2017 will see more crowdsourced and real-time content being generated, giving broadcasters more chance to know the audience and improve the viewing experience with more engaging and interactive programs.

Sources:

[1] https://www.fastcompany.com/3052209/tech-forecast/vr-and-augmented-reality-will-soon-be-worth-150-billion-here-are-the-major-pla

[2] http://www.digitaltveurope.net/547432/ericsson-viewing-is-shifting-from-tv-as-mobile-video-soars/

[3] http://blogs.forrester.com/james_mcquivey/15-10-07-by_2025_50_of_adults_under_age_32_will_not_pay_for_tv

WHEN YOUR TOOTHBRUSH IS HACKED: IOT IN MEDIA

WHEN YOUR TOOTHBRUSH IS HACKED: IOT IN MEDIA

Have you ever imagine watching “The Avengers” hooked on to an automatic pulsating vibrating seat or watching Cookery Show while your room comes live with delectable aromas or your coffee getting brewed on its own right at the beginning of your favorite comedy show or when you are watching the much awaited football match you may see players’ stats superimposed on the screen. How will your little world transform if you get to use your Living room TV to start your oven or stop the sprinkler system outside or switch off the AC in your bedroom or simply check on your sleeping baby. How about friends residing in different parts of the world watching same TV program and sharing FB reviews or Twitter Account recording the blood alcohol level? Welcome to the world of “TV Everywhere.”- the hottest evolution of “Internet of Things.”

Internet, one of the most powerful creations in all human history, has evolved to its next stage-The Internet of Things or Internet of Objects. The term was coined by Kevin Ashton, founder of MIT’s Auto ID Centre in 1999. In the simplest terms, IoT is the concept of basically connecting any device with an on off switch to the internet. Range of devices may include cellphones, headphones, washing machines, television sets, coffee makers, lamps and almost anything you can think of. Sensors will be key driver in IoT expansion and among the most discussed applications for sensors are smart TV, smart cities, smart environment, water, metering, security and emergency services.

While nearly all types of media and entertainment businesses will benefit from the IoT, publishers and broadcasters are in the lead. The Smart TV seems to be the order of the day. They secure data from several devices and systems, structure detailed consumer profiles and use them to create and instantly deliver personalized content across multiple screens. This data is based on demographic location and behavioral pattern of consumer preference.

The IoT opportunities in the sector of Broadcasters, Cable Networks and Satellite Distributors are mammoth. Connected Broadcasting involves IoT in the truest sense. IoT impacts Broadcasting and Viewing in interesting ways. Your connected TV could automatically pause playback when it detects a doorbell or phone call. Your TV could also consider time of the day, brightness of the room or when did you enter the room. On getting back from vacation, let your TV provide you with absentee content like your favorite show heads-up. Let your home boast of “smart remote” which removes line-of-sight restrictions, open or close curtains and also emit signal on being misplaced. Crowd-sourced weather forecasts will soon be available on your TV screens.

Multiple System Operators (MSOs) are the conventional service providers in households. MSOs, ranging from cable to telco and satellite payTV providers with their existing devices like set-top boxes, remote controls and dongles already function in consumer premises and are now extending their reach over Wi-Fi as multi-service residential gateways. A residential gateway is an instrument that provides voice, video and internet services, but new devices fitted with radios are being created to support IoT protocols like ZWave and ZigBee. These new devices operate physical installation and maintenance on other devices at home reducing capital expenditure it takes to add services. Security of the home gateway is potential way for them to capitalize on their already considerable investment in security for set-top boxes. Samsung’s Smart Home can be perfect example. The company’s Smart TV box is acting as the main interface to connected devices. Privacy and security issues have already been considered by the brand when it made the customers cautious that conversations next to the TV might be recorded. The set-top box plays the heart of smart home.

CISCO IBSG forecasts there will be 50 billion devices connected by 2020 and this will redesign the way we live and work. IoT connections on its network in the media and entertainment vertical increased 120%. The average per-company global IoT spending by media and entertainment organizations was expected to increase nearly 54% over the next three years, to $72.6 million in 2018 from $47.2 million in 2015. According to data from Organization for Economic Cooperation and Development (OECD), the top three nations tethered to the IoT are Korea, Denmark and Switzerland. Siemens has said these smart things are starting to power a fourth Industrial Revolution after steam, electricity and wired computers.