Kinkon Nath , AGM-Technology , SRSG
One of the most exciting developments in media industry is augmented and virtual reality. Now 360 contents are being created with these technologies and are storming the market.
Media industry has seen a drastic change recently due to advancement of broadband carriers and easing of regulatory barriers. The concept of broadcasting has completely changed. The focus is on creating a content-centric architecture and hitting more viewers as per their interests. In this new era, broadcasters should understand the current need of consumers and strategically move ahead with a plan to contribute with their own reinvented offerings.
In this new era, Internet bandwidth is playing the key role to make a great change. With easily available bandwidths from network providers and fiber connectivity all over the world, it is now easier to reach consumers. Accordingly, the whole business and operation model has changed. Contents are being digitized and stored in cloud and can be monetized by broadcasters and content providers. So now everything is on cloud. Lot of cloud services like IPTV, OTT, VOD have come into picture. Accessing content is now on finger-tips.
Production cost is also drastically minimized due to cloud-based operation models. Any event like live shows or sports can be directly uploaded to cloud for instant access by viewers. Remote production is also possible by state-of-the-art equipment with IP interface. This almost erases the manpower and logistic cost. Though technology is the key player in this, broadband and fiber infrastructure is the raw material and actually the foundation for these types of business models.
Another major role player in this industry is the consumer. Broadcasters have to keep in mind the sentiments of consumers and their likings. Again thanks to the new cloud-based technology, the consumers can now watch their favorite broadcast shows, movies etc. in a convenient format, at a convenient time and location. Even now we have a both-way communication between viewers and content providers. The content which is mostly viewed gets more likes and subscribers over the content in the same cloud platform. This, as a result, helps the content provider to focus on creating more customized content to enhance consumer interactions and constantly look for ways to engage them. This has also created advantages for ad-making companies. They can reach viewers directly and ad-companies can hit product-specific consumers. There is now a successful commercial model involved in the process of distributing content. Technology enables the viewers to find the content of their interest.
The introduction of affordable internet-ready mobile devices, low-priced data packs from Internet providers, and a surge in easily available online content, has enabled viewers to migrate from traditional TV to mobile for watching their favorite content. So these devices also play an important role for the change in industry. People do not have to wait, until they reach home and put on their TVs for shows. One of the most exciting developments in media industry is augmented and virtual reality. Now 360 contents are being created with these technologies and are storming the market.
Social Media network like Facebook, Twitter, Instagram, and many more is the highest growing network and has contributed a lot to change the entire business models of publishers, TV and radio broadcasters, as well as content providers in entertainment, news, and sport. Few years back, we never imagined of any platform like YouTube or Facebook. But now these have become part of our life.
Concluding, media industry has taken a sharp turn and now the future of industry is over-the-top and VoD. The way in which we consume news and entertainment has changed dramatically. Content creators have a relationship with the end customer like never before. Media and entertainment industry will see a new bloom, in a new direction.