Monetizing media requires personalization, mobility: report

Ooyala, a provider of software and services that simplify the complexity of producing, streaming and monetizing video, found that media industry evolution is being driven by rapid advances in, and the intersection of, three primary factors, the company said.

Those factors are: Mobile technology, as exemplified by phone upgrades and 5G wireless; Data, including the application of artificial intelligence (AI) to provide more personalized content; and Immersive viewing, as embodied by augmented reality (AR) and virtual reality (VR).

The report also notes that media providers´ futures depend on building strong, trustworthy brands; delivering quality differentiated content and experiences; and, importantly, developing a deep understanding of audiences and what they want. Advanced applications in data and automation are becoming widespread globally, particularly in newsrooms — such as USA Today´s efforts to provide readers more personalized experiences based on their interactions with its mobile website.

AI is playing an increasing role as well, not only in understanding consumer preferences which are essential to persuading consumers to pay for content, but in determining the optimally efficient mix between humans and machines.

Among the innovations cited in the report are “immersive technologies” such as AR and VR, which some media companies consider useful tools contributing to all-important “stickiness.” The advent of 5G wireless is seen as empowering immersive experiences such as AR, VR and 360-degree on mobile devices.

For over 10 years, Ooyala has been at the forefront of shaping the OTT and media workflow revolutions as a provider of software and solutions that optimize the production, distribution and monetization of media. National Rugby League, Dell, SkySports and Media Prima are global customers that rely on the Ooyala Flex Media Platform to successfully produce, manage, and distribute media and become more efficient, more open and more extensible to meet the evolving needs of their viewers.

Headquartered in Silicon Valley, Ooyala is a US-based subsidiary of global telecommunications and IT services company Telstra, with offices in Chennai, Cologne, Dallas, Guadalajara, London, Madrid, New York, Paris, Singapore, Stockholm, Sydney and Tokyo, and sales operations in many other countries across the globe. For more information, visit www.ooyala.com.