Now that the market’s entry barrier has gone …
Analyses of MEDIAGENIX customer cases from the last few years indicate that media networks can improve operational efficiency by up to 80% thanks to lean, software-driven workflows. This kind of efficiency is attained when the whole content supply chain is built on 3 power principles: a single source of truth, touchless operations, and actionable data.
Intensified competition in a fragmented market
OTT has leveled the operational playing field in media technology. As a result, the cost of entry to the market collapsed, which enabled all players in the content world to go OTT and direct-to-consumer. This has left the market fragmented, with new competition and business models popping up left, right and center.
Large corporations typically respond to intensifying competition with mergers and acquisitions, going for expansion, or horizontal or vertical integration. The added challenge for media networks is in meeting new and high demands from their target audiences. They need to engage their audiences on diverse platforms with targeted or specialized content. And when they go international, they must never underestimate the power of local presence.
In life change is always inevitable, but so is resistance to change and clashes between existing methods, customs and conventions, and the new. Amid changing media market dynamics managers of media networks have an added obstacle to surmount. They are also confronted with an increasingly complex decision-making process that risks blurring the focus.
The way forward
According to MEDIAGENIX, media networks need to tackle growth challenges by creating an efficiency foundation across all layers of the organization. This will enable them to implement business configurability and flexibility for content distribution across multiple platforms. It will also allow them to keep a strong focus on maximizing audience engagement and securing a sound return on their content investments.
MEDIAGENIX advocates that to attain this kind of efficiency, the whole content supply chain should be built on 3 power principles: a single source of truth, touchless operations, and actionable data. In WHATS’ON, the M&E Business Management Platform by MEDIAGENIX, each of these principles contributes to software-driven workflows around content, rights, and planning. These workflows are designed to be lean in terms of efficiency and flexibility, and meet with high user acceptance as they eliminate repetitive, time-consuming and error-prone processes, reduce waiting times and processing complexity, and enable management by exception. All departments work in perfect synch as real-time data is put at the center of the ecosystem, driving operations and decisions as a single source of truth.
This sets the ground for lean operations and has a substantial impact on the return on investment in content. In today’s volatile media market, this is the way to manage growth, the way to go forward.