From purchasing a paper to opening a news application on your tablet, from leasing a DVD to streaming your #1 TV show on a smart TV, from purchasing a cookbook to getting modified recipe recommendations on your cell phone, it’s certain that the digital transformation of the media business has already started.
In the digital world, innovation is changing rapidly while buyers are the ones making and disrupting the guidelines of the game. In this specific situation, each business gets digital and hence requires a digital focus in all business processes and capacities.
In the media business, the digital transformation seems, by all accounts, to be going mainstream. The fast progressions in technology combined with the unlimited opportunities brought by digital video empower new players to enter the market and construct disruptive business models that destabilize traditional media organizations and draw in crowds in a matter of seconds.
Digital technology goes about as a strong establishment where the present media industry stands. Consequently, today when we talk about broadcast media, like TV (digital & analogue), internet media (digital podcasts, web journals, sites), radio, online streaming (Netflix, Amazon, Prime, Hotstar, Voot, Disney Hotstar). The industry is effectively adopting cloud-based innovations like Over-The-Top (OTT) services, thus, improving their business models and workflows to the tune of present-day demand-supply chains. According to STATISTA’s report, the number of users in the OTT video section is relied upon to ascend to 2,923.6million by 2025.
Technological developments like Augmented Reality, Virtual reality, Artificial Intelligence, Deep Learning, Voice-control devices are changing the way broadcast media are spreading data today
The times are changing. There are a lot of articles that explore the large number of changes accompanying the recent college grads taking over as the prevailing monetary force to be reckoned with, previously claimed by the boomer generation. Yet, for the media, this switch will be felt substantially more cruelly.
Recent college grads treat data and content much uniquely than other different generations before them. They were raised with more data they would actually perhaps require, all within instant reach. This overexposure has made them be additional mindful of anything written
by experts. They are likewise infrequently affected by advertising, which is financially affecting broadcast media organizations that depend on conventional advertising sales. Fortunately, millennials truly value authenticity and are bound to subscribe to content more than other generations. Media organizations that are open, fair and transparent, and produce content ground-breaking enough to share, stand to succeed.
