Dan Goman is the Founder and CEO of OWNZONES Entertainment Technologies, a pioneering technological force that’s transforming the Post Production and OTT industries with ground breaking innovations, from digital supply chain solutions to unique, customizable video apps.
Is more always better?
Is having more content, viewers and platforms always better? Most people would say a resounding YES! Although the team at OWNZONES agrees, we also see the inherent challenges and unless you know how to navigate the issues that arise, more is harder.
Here are some of the challenges I’ve seen first-hand as an OTT content provider and as a technology partner to studios, post-houses and content aggregators around the world.
The challenge with more consumers is reaching audiences efficiently. Deploying new distribution strategies, channels and technologies is costly and time-consuming. To be one of the first to reach new markets, you need an agile video supply chain infrastructure that can adapt quickly. This means localization of your content, transcoding/encoding to locally accepted file types, building integrations with local broadcasters and much more.
You could try to build your own video supply chain management system AND create a network of vendors to accommodate all your international needs, but why take on that immense burden yourself?
Instead, find a technology partner who has already built a viable system and can help you reach wider audiences.
What about more choice? As part of the Netflix Production Technology Alliance, we’ve seen first hand their focus on allowing consumers to watch content on any screen, at any time, in any location. This trend is industry-wide, but optimizing content for each platform is costly and time consuming. Many of the software and services you’ve traditionally used are not truly built to handle that many end-points. This is a new world, and it necessitates new technology that can cost-effectively scale to your needs while removing prohibitive upfront overheads.
Similarly to the previous solution, this requires the most effective technology partners that can offer the agility necessary to stay ahead of the curve.
Lastly, the challenge with more content. We’ve seen exponential growth in new content investment and production and yet we see millions of library properties under monetized. The challenge is twofold, on one hand it’s the daunting cost of conforming your library of content so that you can monetize it in today’s increasingly all digital storefronts, on the other hand it’s staying ahead of the competition with better distribution strategies.
The right technology can make all the difference. The right partner will be cloud based, incorporate AI, leverage a network of the best vendors and tech alliances so that not only will you enhance your content’s distribution, but also its quality and discoverability. Cutting-edge supply chain technology doesn’t just enhance one part of your business, but can also be leveraged by your marketing, customer service, sales and creative departments to continually improve your return on investment.
With a strategy and the right technology partner in place, you can tackle the big challenges like converting your library to the IMF format and facilitating the localization of your content in this increasingly global landscape.