Press release from Business Wire India
Source: Frost & Sullivan
Thursday, September 19, 2013 11:42 AM IST (06:12 AM GMT)
Editors: General: People; Business: Business services, Information technology, Media & entertainment; Technology
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Media Workflow and Resource Management (MWRM) in Broadcast can Provide up to 60 Percent Total Time and Cost Savings, Finds Frost & Sullivan
Mumbai, Maharashtra, India, Thursday, September 19, 2013 -- (Business Wire India) -- Video transmissions have changed dramatically over the last decade. From what was once a closeted in-home experience, it has transformed into an on-demand anywhere-anytime-anything application that occupies considerable real time in our lives through our Smart TVs, computers, mobile phones, and innumerable portable gadgets. This has had wide reaching implications for the media industry in terms of technology as well as commerce.
An average broadcaster today has to balance two contrasting realities to make business work profitably. One is transitioning to digital, tapeless, file-based and IP workflows - simultaneously or in lock-step with each other - and the other is to manage the business side and make content available for a variety of screens, device types, and networks, on-demand and anywhere. These two imperatives are seemingly disparate, yet highly intertwined.
Due to limited budget and resources, companies focus on specific solutions that help them manage immediate needs and tackle one problem at a time. In doing so these companies solve a tactical challenge; however, they add more complexity and miss the strategic business necessity.
Frost & Sullivan, in its recent whitepaper titled Media Workflow and Resource Management: A New Roadmap to Revenue Growth and Reduced Complexity found that many broadcasting companies have implemented media asset management (MAM) to manage content assets within a highly collaborative production workflow, facilitate content discovery and production, and in doing so have experienced tangible benefits. Yet, the benefits of MAM are limited and its value proposition is much more magnified and holistic when it is part of a more encompassing solution such as a Media Workflow and Resource Management (MWRM) platform. A MWRM platform not only includes the critical MAM component, but extends its capabilities far beyond to integrate a wider ecosystem of internal and external stakeholders and multiple business processes for a broadcast enterprise.
Frost & Sullivan finds that MWRM can help broadcast programmers gain as much as 60 percent savings in time and cost, increase the number of avenues for video distribution with little or no additional cost and alleviate the day-to-day pain of departmental disconnect, resource delays, and avoid duplication of effort through the system.
Time and Cost Savings Analysis with MWRM - Sourcing Content from External Supplier
Using a hybrid-cloud ecosystem, MWRM can promote collaboration among internal creative departments that execute production of the content and its play-out, as well as facilitate integration with external content suppliers. Internally it can extend towards billing and contract management systems while bringing in a widget based customizable dashboard that would also provide visibility to programming analytics. Such an end-to-end platform mitigates the risk of common and rampant operational inefficiencies, redundancies in process, duplication of effort, slip-ups in quality check (QC) and lack of information in the value chain.
Benefits of MWRM:
-- Promotes collaboration
-- Accelerates production with its streamlined workflow
-- Increases resource optimization and operational efficiencies of an organization
-- Provides a content company full control of end-to-end asset transformation - from creation to distribution to monetization
"Broadcast content companies today are ready to step out of their incumbent comfort zone of linear programming and are busy trying to carve out a digital strategy that empowers them to pursue strategic growth by marrying business, process and asset efficiencies with technology for success, say the authors Mukul Krishna, Senior Global Director and Vidya Nath, Research Director, Information & Communication Technologies Practice, Frost & Sullivan. Media companies now have fewer hurdles with MWRM than before as it helps to think around 'What do I do with my video library' to the thought process 'How can I make more money from my video assets."
"Many media companies today realize the benefits of content management solutions, yet are shy of investing in these. User confusion, home-grown legacy solutions and a fragmented market makes it difficult and challenging for companies to switch solutions, making it highly unviable in the long run. What the industry needs is enterprise-scale integration and a collaboration platform that is highly flexible, scalable, and reliable and secure, with broad network access, encompassing multiple user interfaces and, importantly, which can be measured as a service. MWRM promises to be all of the above," concludes Krishna.
MWRM can be a powerful and effective tool for small, medium or large content organizations alike and help them better manage and future proof against constantly changing market and consumer demand. It allows an organization to channelize its efforts towards creating new business models around applications such as video-on-demand, multi-screen delivery, and 'TV Everywhere' distribution. This opens new avenues for revenue such as targeted advertising, pay-per-use, or subscriptions. Being highly flexible it assuages the challenges of conforming to multiple standards across multiple media networks. Internally at an organizational level, it goes beyond MAM to connect the creative, legal, operations, marketing, and distribution functions, putting content at the center of the enterprise.
If you are interested to know more on this topic, please send an e-mail to Ravinder Kaur / Priya George, Corporate Communications, at ravinder.kaur@frost.com / priyag@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
Media Workflow and Resource Management: A New Roadmap to Revenue Growth and Reduced Complexity is a Market Insight and it is part of the Digital Media Growth Partnership Service program. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. You can download the Market Insight by visiting http://www.frost.com/q284260997.
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To view the Time and Cost Savings Analysis with MWRM, please click on the link givne below:
Time and Cost Savings Analysis with MWRM - Sourcing Content from External Supplier
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Time_and_Cost_Savings_Analysis_with_MWRM.pdf
Time and Cost Savings Analysis with MWRM - Sourcing Content from External Supplier
CONTACT DETAILS
Priya George, Corporate Communications - South Asia, Frost & Sullivan, +91 9840355432 / +91 (44) 66814414, priyag@frost.com
Ravinder Kaur, Corporate Communications - South Asia, Frost & Sullivan, +91 9940141714 / +91 (44) 66814413, ravinder.kaur@frost.com
Nimisha Iyer, Corporate Communications - South Asia, Middle East & North Africa, +91 9820050519 / +91 (22) 66072004, niyer@frost.com
KEYWORDS
PEOPLE, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
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