As period dramas dazzle the silver screen and streaming subscriptions like Netflix and Amazon Prime bring outstanding entertainment to our homes, the entertainment and media industry is annexed to our routine. Now, with the aid of our smartphones, the accessibility to entertainment and infotainment has grown drastically; you can go through news or even watch your favorite show on the go, anytime and anyplace.
If you commute via public transport then you can surely spot many co-travelers busy scrolling through their phones, tablets, and laptops or keenly staring at their large screens at home. This is how the entertainment and media industry has captured the interest of a massive audience across the globe. In fact, it has become a focal point of our evolution as a society; tending to each and every aspect that affects us as an intelligent species.
Through decades, this industry hasn’t just entertained and informed us but also shaped mass perception. It is no secret that media massively affects mass opinion and is an incredible platform to promote products, services, and ideas. This is the reason why organizations from different verticals sponsor entertainment programs and news segments that run on televisions and stream on various online platforms.
In the past few years, the media and entertainment industry has evolved at a rapid pace due to the changing behavior and growing knowledge base of the target audience. The World Wide Web has opened new avenues to attain credible information and view the latest in the entertainment realm, which is why the audience expects the highest quality when it comes to credibility and entertainment.
Undergoing a huge transformation, the media industry is susceptible to wake up to a new dawn of content-centric entertainment and news; powered by a business model that is entirely based on relevant content creation to not only enhance the customer satisfaction rate but also cut down customer churn, retaining the existing audience and attracting more viewers.
To create content that meets and exceeds the aspirations of the target audience, topnotch media houses are resorting to big data. Offering valuable insights and helping media houses focus on bringing together unique and appealing content, Big Data is evolving at the core of the entertainment and media industry.
Let’s take a look at how Big Data solutions are ushering businesses in the entertainment and media world towards growth and success.
One amongst the major advantages of the insights that any business gets via Big Data analytics is a better understanding of the target audience and their behavior pattern. From gathering data regarding factors like personal profiles of the potential customers to understanding their preferences and attitude, Big Data solutions offer an incredible resource of information to help engage current and potential viewers.
Data is captured from platforms like social media to understand the viewership of the content and the related trends to further modify it or put an end to a practice that isn’t going really well with the viewers. In fact, prominent news channels are resorting to data analytics to disseminate news stories that are engaging and interesting, offering viewers a richer experience.
Without Big Data and akin analytics, the whole approach of finding content that is relevant to today’s viewers will be wasteful and random; incapable of rendering results that can really generate positive results. The orthodox journalism practices and entertainment ventures cannot keep the interest of viewers for long; as humans, we are always curious about the new, and untrodden paths of the entertainment and media realm.
Today, viewers are no more beguiled by the lavish sets of period dramas and news segments that aren’t informative enough. They want something that is brilliant, honest, and more interactive. Generation Y and Z, who form the major target audience of entertainment and news businesses are quite particular about what kind of content they wish to view.
The ever-increasing competition in this domain has pushed media and entertainment biz to not just think out of the box but be eccentric. Any organization in this domain is susceptible to get lost in the crowd if it fails to bring fresh content on board. The times are changing and so is the audience, by not keeping up with the same; it is hard to survive the competition.
It is a known fact that big data-driven media houses are capable of producing content that is created after careful analysis of quantitative insights. These insights are derived after a careful assessment of heterogeneous datasets. Apart from this, careful curation, psychological assessment of the target audience, and the editorial prowess held by media houses are a few other elements that bring impactful content to life.
Just like any business, media houses can massively benefit with updated legacy systems in the Big Data way. The cloud and open source IT infrastructure that is essential for integrating it in the work processes offer a host of advantages. Advancing the operations to a new path of a transition towards better technology. Adapting to data-driven modules of business operations can allow steady growth and help businesses attain an edge over competitors.
Yes, it isn’t a child’s play to bring together legacy systems and data-driven modules but in the long run, it sure is beneficial. Allowing media businesses to capture information that can be deployed for amendments that are both required and remunerative, these modules set up a healthy base for futuristic and growth-oriented operations.
However, to make the transition from the proprietary technology to data and cloud-based technology seamless, it is best to hire outsourced support. Today, you can find a plethora of organizations that not only cater to the need for big data solutions but also offer cloud infrastructure services. So, finding a reliable service provider for the same shouldn’t be too much trouble.
This collaboration intends to reaffirm your position in the market; henceforth, resorting to outsourcing sure is lucrative but before you opt for it here are a few things to keep in mind.
Data-driven media and entertainment houses have achieved roaring success within a short span of time but this won’t be possible for your business if you fail to track all the consequences that this collaboration precipitates. So, before you go for it; assess all the related statistics and outcomes; this will help you reap all the perks of Big Data whilst not getting deep in the weeds at any moment.