Lights, Camera, Action! With Information Technology playing a major role in easing our lives, Action will be replaced by Cloud. Yes, Cloud computing is helping media and entertainment industry to transform delivering efficiency on digital mediums (not forgetting traditional mediums).
The entry of Cloud in Media and Entertainment Industry
Digitization and internet connectivity has made a complete change shift in which businesses operate. Even startups are operating online. This triggers innovation giving birth to smart phones, tech devices, tech solutions etc. leading to a momentum in digital media content.
Today, media content is always accessible from any device with customizable stream of music, videos movies and ebooks. Studies show, the media industry is one of the top three industries to be changed in five years down the line and Internet Advertising revenues to grow to around $61.4 billion in 2017.
This seems to be exciting, however, top decision makers of the organization will have to form strategies incorporating new technology to not just gaining new base of customers but more importantly retaining them. It is important for the media industry to balance intricate workflows and new data formats. And that is how, cloud becomes an important part of media and entertainment ecosystem.
To have a competitive advantage, moreover, delivering the methodology and networking to consumers for viewing content is necessary. To deliver flexibility, we need flexible hardware or software as without them, there is considerable strain on resources currently used.
Action : Cloud comes into picture with a heroic entry.
With the massive adoption of cloud even by the startups we all know some great advantages of cloud-like scalability, storage, cost efficacy etc. But, why media industry needs cloud? It’s a vicious cycle with everything connected to changing dynamics of information technology.
Advantages of Cloud Computing for Media and Entertainment Industry
Cloud enables remote content storage in a connected environment addressing the storage issues as well as increasing the availability and reach of the content. With transcoding, cloud helps in repurposing content on varied devices thereby improving content delivery across all mediums.
With cloud and other technologies developing every day, security has been the utmost priority for top decision makers. Keeping security reasons in mind, media companies are adopting private cloud models. Still issues regarding absence of high bandwidth and high reliability, cost considerations are taking the limelight. Therefore, a shift towards hybrid cloud model is witnessed.
Multinational entertainment firms like Disney, Warner Bros, Netflix have not only already started leveraging the scalability but also making content available to consumers anytime anywhere wherein consumers can easily convert DVD files to portable mobile-friendly files. So, watch any movie or series while commuting from your home to work place.
This helps in facilitating better collaboration. Some indirect benefits are remarkable like cost savings, quick response time for newer services etc. Warner Bros has coolaborated with Pega Cloud reflecting the crucial path of new movie releases across globally physical media and digital supply chains.
Media and entertainment industry contributed more than $100 million in 2016 which is expected to grow ten fold by 2020 with the adoption of cloud. Apparently, the biggest market of media and entertainment industry accompanied with cloud is North America. According to Frost & Sullivans Information & Communication Technologies, over the next five years, Asia Pacific region is expected to attract a lot of opportunities for solution providers.
With the aim of reducing IT operational costs and providing anytime and anywhere accessible high quality content will trigger the adoption of cloud solutions by media and entertainment firms globally.