4 trends that will galvanize the media and entertainment industry in 2021

The media and entertainment landscape experienced a monumental transformation in 2020. National lockdowns and social distancing laws posed unique challenges but the industry demonstrated its resilience in the face of adversity.

The pandemic has provided the impetus for more flexible, cloud-based workflows. By necessity, the drive to deliver tools that enable effective remote production intensified. Specialist tools and techniques now facilitate high-quality, socially distanced productions that previously weren’t possible.

The pandemic has provided the impetus for more flexible, cloud-based workflows.

2021 key trends in the media and entertainment industry

COVID-19 has acted as a technology accelerator and 2021 will see the following trends evolve:

1. Remote production will gain wider adoption

The trend has been gathering momentum in recent years, but innovation in remote production will now increase even faster. COVID-19 has highlighted the importance of remote production capabilities and the technologies that support it.

Remote production models will become more widely adopted as industry players increasingly switch to a variable-cost model, benefiting from flexibility and resource efficiencies. The growth of digital outlets and the increasing number of live events planned in 2021 will make remote production more attractive.

Benefits of remote production:

• Costs about 30-50% less than traditional on-premise production
• It’s less capital-intensive
• The best technical people can be deployed more productively
• Technology advances have enabled production quality and reliability to be equal to that of onsite production

The growth of digital outlets and the increasing number of live events planned in 2021 will make remote production more attractive.

2. Addressable advertising will gain momentum

Ad revenue, the lifeblood of media companies, has been steadily declining for years. Addressable advertising will revolutionize the business model broadcasters and media operators have relied on for decades, achieving 20%–30% uplift in ad rates. Brands will have the benefit of targeting specific households for their products and services, just as they have been able to do for digital streaming, but now at the scale of television audiences. We already have successful active trials running with millions of households.

Addressable advertising will gain momentum as the industry gets excited about delivering highly targeted ads to each viewer.

Addressable advertising will gain momentum as the industry gets excited about delivering highly targeted ads to each viewer.

3. Content exchange will enable higher revenue

In 2021, the broadcast industry will increasingly transition to the cloud to produce and distribute broadcast-quality video feeds in multiple formats. Doing so will create opportunities across the board for all players: content owners and rights holders can expand their market and revenue base, while content receivers can receive content in the formats and localization to best serve their audiences.

Cloud-based content exchange technologies will enable content providers to distribute and exchange their content easily, flexibly, and at scale with distributors worldwide.

4. The transition to IP creates new monetization opportunities

Satellite transport networks traditionally have been used for their reliability and reach. However, the one-to-many delivery model can’t keep up with the demand for greater regionalization of content and emerging distribution channels. The transition to IP distribution creates new monetization opportunities, enabling the delivery of high-quality video and audio from any location to any destination.

The move to IP also brings a significant improvement in cost economics as well as better control and monitoring of the received signal at the destinations. Broadcasters will increasingly trust putting their high-value content on IP networks to customize it for diverse audiences and locations.

Broadcasters will increasingly trust putting their high-value content on IP networks to customize it for diverse audiences and locations.

Creating a bridge to the future

2020 has demonstrated that it’s time for the media industry to change its mindset. Industry players have learned that agility is a core survival trait, and they must proactively embrace new technology to thrive.

Now is the time to use every tool in your toolbox, including strategic partnerships with trusted technology service providers who can help the media and entertainment industry solve the toughest challenges and provide a bridge to the future. 2021 will see accelerated change in the media and entertainment landscape. Together, we’ll transition to the future of video.