target audience: TECH BUYER Publication date: Jul 2024 - Document type: IDC MarketScape - Doc Document number: # US51752224
IDC MarketScape: Worldwide Media Consultation, Integration, and Business Operations Cloud Service Providers 2024 Vendor Assessment
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Abstract
This IDC study provides an assessment of key vendors that have native cloud products and services in the media and entertainment (M&E) industry. Media customers are at an inflexion point driven by key technology and market trends, new cloud-based products and services offerings, and general discussions about the overall health of the M&E industry. The focus of this IDC MarketScape "is on the ability of a technology vendor to deliver on a TCO model that achieves the media company's financial and profitability objectives within a specified time frame. While 2024 confidence levels are lower for the overall industry, there is optimism about new opportunities yet to be developed and/or discovered.
Over-the-top (OTT) distribution, free ad-supported streaming television (FAST) cloud channel playout, and direct-to-consumer (DTC) business models are popular with the adoption of cloud services for M&E. Technology vendors are addressing these challenges with new offerings of native cloud solutions for parts or all the business cycle including production, distribution, and monetization. Shared risk, strategic partnership, and alignment of both engineering principles and road maps are the keys to success. In 2024, we expect new GenAI initiatives to help drive everything from achieving financial performance objectives to workflow efficiencies and improved monetization of assets. Data from all three business cycle pillars will help drive performance improvements versus plan where integration into business operations will aggregate, analyze, and act on them through automated processes to make course corrections and/or present dashboard metrics for intelligent decisioning.
Alex Holtz, research director, Worldwide Media and Entertainment Digital Strategies at IDC, remarked, "It is no longer about should customers adopt cloud services but rather how fast can they deploy solutions to drive more business as competition heats up and consumer adoption of streaming and interactive services continues to grow, placing increased demands on content creation, production, and distribution all with the metadata necessary for discovery and automated suggestions to facilitate the user experience. FAST-based OTT business models will dominate monetization strategies; live interactive sports programming will accelerate cord-cutting and drive viewership to OTT and technologies including AI/ML, data analytics, and security; and open standards–based APIs will drive industry growth for the foreseeable future. Vendors that account for these trends and address more of the business cycle and price products and services as SaaS and/or managed services to deliver excellent value and lowered total cost of ownership for the customer will succeed."