In a dynamic market, continually reviewing and adjusting your commercial and development priorities is vital. This is our approach – and that of our progressive clients.
Some of the key dynamics that are affecting the video market from our perspective are:
- Home entertainment, as reflected by US stats, show that home entertainment viewing on the internet has grown from 0% to 30% in the last 10 years, driven by companies such as Netflix. This trend will continue.
- A whole new set of video markets have developed or exploded in growth since the development of the internet including music videos, clips and highlights of news and sports, online video promotions, home video production for YouTube and social, video programs specifically for social, online and mobile VOD viewing, and more recently eSports.
- Live viewing on any device has become possible. We now regularly see Facebook and Twitter live feeds. These did not exist just a few years ago.
- Storage of professionally produced videos is starting to move to the cloud; however, video producers are struggling to equivalently update their capabilities cost effectively and with low risk.
- Significant improvements in video analytic capabilities, often cloud based, which are starting to be able to at low cost add metadata to previously unsearchable content. This will reinvigorate the monetisation potential from existing high quality content.
With these dynamics, traditional broadcasters, rights holders and video producers have to react to the new market dynamics or over time they will be marginalised, while the new companies such as Netflix and Amazon are building newer capabilities and unassailable market positions.
Our focus has been to build new capabilities in video production from day one. We have not been trying to simply replicate capabilities in a new way; rather, we have been focusing on adding new capabilities to existing video production workflows to provide the capabilities needed by a much more demanding market.
The essence of what additional capabilities are required from our perspective, and what we provide, are:
- Remote viewing and post-production of videos – to improve the access and use of video and the speed of video creation
- Faster video editing and publishing from live content specifically for clips, highlights packages and re-versioning
- Simple multi-platform publishing, especially for social media
- Superior control over original content as rights holders are moving to using their content for multiple markets and in an increasing number of ways.
Many companies are looking to solve this through large multi-million dollar projects, to build media production systems for the future, to replace their existing legacy systems. Sounds exciting; but in many other equivalent sectors the success rate of big projects has been poor and the fall out rate for technical team players has been high.
We provide these capabilities without video producers having to replace their core systems. With a low cost, low risk approach we help to dramatically improve their video capabilities on the dimensions noted above. More on this in my next blog …
David P Main
Chairman, Forbidden Technologies plc