Insight
November 25, 2024
1. The sports streaming revolution is already being televised
2. AI in Broadcasting is a slow but promising evolution
3. Build vs Buy: Which is the right strategy for innovation?
4. Digital transformation is the next step for news broadcasters
5. Sustainability in media should not be overlooked
1. The sports streaming revolution is already being televised
Now that Netflix has joined the party, further reshaping the sports streaming landscape, the competition for eyeballs is more intense than ever. But sports broadcasters at this year’s Briefing were clearly prepped with strategies of how to deliver even greater value and quality of service to their sports fan subscribers.
Key tactics that were featured across the day included faster content delivery, ensuring fresh sports content meets the demand for live and on-demand experiences, as well as an uplift of 50% in sports coverage to enhance value of service. A data-driven personalised approach designed to keep viewers engaged through tailored experiences (including live stats, recommendations, and other personalised content) were also on the table.
Automation, efficiencies and scale in broadcast ops were mentioned as integral to improving the viewer experience, along with re-imagining the player as a product. An enhanced video player that includes viewer-curated multi-viewers, vertical content and merchandise features would all contribute to subscriber stickiness and loyalty.
2. AI in Broadcasting is a slow but promising evolution
Artificial Intelligence (AI) was compared to a 10-year-old child by one of this year’s speakers, emphasising the need for patience and guidance as it matures. While AI holds significant potential, careful nurturing and development within the media space are essential. With the right approach, AI can become a valuable asset for the Media & Entertainment industry.
Similarly, the evolving role of generative AI in reshaping the content supply chain was discussed, with the key question raised: "When will generative AI meet enterprise standards?" While the answer is still unclear, it was emphasised that broadcasters and content producers should begin experimenting with AI now to prepare for its future integration. The focus was on exploration rather than immediate adoption, as generative AI is not yet fully reliable for enterprise use. Experimenting now will help companies better understand its potential and limitations before incorporating it into their operations.
Ultimately, it was clear that AI was a key theme, and although still in its experimental phase and we should actively work to identify its most reliable and beneficial applications as an enterprise solution.
3. Build vs Buy: Which is the right strategy for innovation?
The "build vs. buy" dilemma was introduced as an age-old challenge in the media industry, where companies must decide whether to develop technology in-house or partner with external vendors. In the fast-evolving media landscape, blending in-house expertise with external partnerships has become crucial for staying competitive. It was highlighted that both building and buying are credible options, with the key being the balance between in-house expertise and strategic partnerships. By outsourcing specific technical needs, companies can focus on their core strengths, such as creative content production, all while preserving their unique brand identity.
Ultimately, this was defined as an ideal strategy to adopt across the media and entertainment industry as it not only grants access to cutting-edge technology but also ensures agility and adaptability in a rapidly changing market.
4.Digital transformation is the next step for news broadcasters
News broadcasters revealed their intent to transform into a modern streaming services, embracing digital-first solutions to drive efficiency and innovation. This shift will be supported by the integration of AI and strong security measures, ensuring a smooth transition from legacy broadcasting to a more technology-driven approach.
AI was highlighted as a key enabler, empowering broadcasters to offer personalised, data-driven experiences that enhance audience engagement and help their traditionally focused news operations adapt to the rapidly changing media landscape.
Discussions on future-proofing the news industry emphasised that cultural transformation is just as critical as technological progress. By fostering cross-functional teams and reimagining workflows, news organisations can build more agile, efficient newsrooms that reduce errors and improve content quality.
Overall, two key strategies were identified for future-proofing the news industry:
- Agility & Data-Driven Innovation: Fostering cross-functional collaboration, updating processes, and streamlining workflows enables newsrooms to quickly adapt to changing demands and deliver more efficient, accurate content.
- Seamless User Experience: Creating a consistent, cohesive user journey across all platforms ensures content remains easily accessible and engaging, driving audience interaction and loyalty.
5. Sustainability in media should not be overlooked
The third segment of the European Broadcaster panels concluded with a sustainability-focused Q&A session led by the event’s main sponsor, Qvest.
The Q&A addressed the challenges of measuring sustainability within technical frameworks. While sustainability initiatives are often the first to be sidelined during budget cuts, industry leaders underscored the importance of embedding these efforts into long-term strategies. Beyond their environmental significance, sustainability initiatives also create opportunities for future partnerships and collaboration with larger organisations, ultimately driving both ecological and business value.
The key takeaway from this discussion was the recognition that sustainability must be woven into the fabric of business strategy to ensure long-term success and relevance.
In summary...
The DPP Leaders’ Briefing 2024 underscored that the media industry is at a pivotal crossroads. From thoughtfully leveraging AI to optimising content delivery, broadcasters must adapt to shifting consumer demands, embrace new technologies, and prioritise sustainable practices. As Simplestream continues to track these advancements, we remain committed to empowering our clients with flexible, innovative solutions designed to shape the future of media, no matter what challenges lie ahead.
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