A couple of weeks ago, we had the pleasure of participating in the International Broadcasting Convention, a major event in the media, entertainment, and technology industry. This gathering brought together leading minds and key players from various tech sectors, companies, and initiatives to celebrate their latest achievements, share insights, and foster new business connections. In this article, we selected the hottest topics that were discussed at this year’s IBC.

Sustainability 

Sustainability in the OTT, streaming and media is becoming an important issue as digital content consumption continues to increase. The industry is known for its massive data centers, energy-intensive streaming processes, and e-waste, which is why it is so important to ensure sustainable practices. 

Here are some key aspects of sustainability in the media industry: using energy-efficient technologies and renewable energy sources in data centers, minimizing data traffic and energy consumption through caching and CDNs, and promoting energy-efficient devices and features or environmentally friendly practices in content creation and distribution.  

If you want to achieve true sustainability, you can consult our specialists about your concerns.  

The power of AI 

Artificial intelligence has recently made a huge impact on the streaming and OTT media industry. For example, artificial intelligence algorithms can analyze user habits, preferences, and historical data to provide personalized content recommendations. Services like Netflix and Amazon Prime use artificial intelligence and recommend movies and TV shows to viewers based on what users have previously watched.

AI-powered tools analyze video content to extract metadata such as identifying objects, faces, locations, and spoken words. This metadata can be used in better search and recommendation systems. The role of artificial intelligence in the OTT, streaming and media industries continues to grow, driven by advances in machine learning, natural language processing, and data analytics. Competition in this space is increasing, so companies will undoubtedly continue to invest in AI technologies to improve user experiences, reduce operating costs and remain competitive. 

On-demand content 

On-demand content has revolutionized the media and entertainment industry, especially for Over-The-Top (OTT) streaming platforms. This change in media consumption has had a huge impact on consumers and the industry itself. On-demand content refers to media such as movies, TV shows, documentaries, music, and even live events that consumers can access and watch at their convenience. OTT streaming services have played a key role in popularizing on-demand content. 

These platforms, such as Netflix, Amazon Prime Video, Disney+, Hulu, and HBO Max, deliver content directly to consumers over the Internet, bypassing traditional cable or satellite providers. This gives consumers access to a wide distribution of original programming and exclusive content.

In addition to the giants in the industry, it is important to remember that smaller players are also making their mark in the world of streaming platforms. A prime example is our clients and the platforms we have developed for them, such as local Catalan platform La Xarxa or Danish Nordisk Film+. Nowadays, they are all striving to widely distribute their content in a way that is fast and convenient for their audiences. At Better Software Group, we have extensive experience in developing customizable white-label platforms for content owners. 

As technology continues to advance, the on-demand content model is likely to be the dominant force in the media industry. 

Monetization 

Monetization in the media industry has undergone a significant transformation in recent years. As the number of subscriptions to traditional television and cable television declines, digital platforms have become the leaders in content delivery. This change has led to different monetization models and strategies. 

We can mention here, among others: 

  • SVOD (Subscription Video on Demand), which offers a huge library of content for a monthly fee, examples of which are Netflix or Amazon Prime; 
  • AVOD (Advertising Video on Demand), which offers free content supported by advertising, freemium OTT services – such like Spotify and YouTube which offer a freemium model where users can access basic content for free with ads, but can subscribe to premium versions to access ads and additional features without ads; 
  • PPV (Pay-Per-View) – often associated with live events, this model charges viewers a one-time fee for access to a specific event or program, such as a boxing match or concert, via a streaming platform;
  • FAST channels – ad-supported and free-to-watch streaming channels that combine the benefits of linear and on-demand programming in a single experience.

In Better Software Group, we can help you launch your own platform with a monetization method convenient to you. 

After the event 

This year’s edition was exceptional, but the next one promises to be even more extraordinary. Technology is developing rapidly, and we can’t wait to see what the future holds. So, we say goodbye to IBC 2023 and are already counting down the days until IBC 2024, where new opportunities await us. We remain at your disposal all the time and will be happy to advise you and dispel all your doubts!