Key Challenges
Consumers have adopted TV subscription models in home or on mobile devices. But the race to stay is on within the broadcasting segment for innovation in content, products, and services between pay TV operators, over-the-top (OTT) players, and TV channels. These new market conditions are forcing traditional broadcasters to increase investments. New content programming and new consumer-centric products are needed to react quickly to changing market conditions, and catch up with OTT players. All are investing heavily in the planning and development of new content and innovative products and services that grow new direct consumer relationships and open up new revenue streams in order to quickly compensate for the threat of declining traditional revenues.
- Shifting of the industry to a more direct-to-consumer, subscription-based product and services engagement model.
- Developing programming, products, and services that serve anytime, anywhere consumption demands.
- Offering products and services that cater to audiences in a more attractive and personalized way.
- Competing with OTT TV players who are constantly trying new genres and new services.
- Delivering profitable programming, products, and services needed for a successful OTT business model.
- Expanding content libraries, and personalized and differentiated offers.
- Leveraging virtual reality, augmented reality, mixed reality, blockchain, 5G, and other emerging technologies that are paving a new way for media consumption.
- Developing and deploying content, products, and new services in a shorter time frame.
- Placing innovation at the heart of customer strategies to respond to fierce competition.