Key Challenges
With content and new digital distribution channels booming, the amount of data created and collected has exploded. Traditional broadcasters have suffered from declining viewership while OTT players have provided viewers the ability to bypass traditional media channels and consume media anytime, anywhere, on virtually any platform. As a result, broadcasters have become more consumer centric and require deeper data insight to understand their customers better, attract more viewers, and provide more personalized engagement.
Digital native players, such as Netflix and Amazon, have adopted a data-driven strategy and are challenging traditional broadcasters with better consumer experiences and insight.
- Gaining deeper data insights as a key differentiator in the battle for eyeballs, content, and consumer engagement.
- Declining viewership and a lack of deep insight into viewer preferences that impedes broadcaster ability to innovate new programming, products, and services.
- Having siloed data clusters that make it difficult to operationalize the valuable data across the enterprise.
- Providing advertisers with deeper data insights into viewers’ media consumption behavior across multiple devices.
- Eroding broadcaster market share due to digital natives that are shifting the business to a direct-to-consumer, over-the-top consumption model at a lower cost and with a better data-driven experience.
- Finding effective ways to monetize beyond traditional linear TV and set-top-box models.
- Soaring amounts of data require a comprehensive and integrated platform to harness and mine deeper data insight.
- Increasing data security and privacy challenges.
- Harvesting first-party data insights with OTT apps and set-top-boxes.