Lessons Learned from OP/ED ‘19 series – Part 1 “The Automation of Advertising starts…now.” Operative CEO Lorne Brown kicked off the 6th annual OP/ED Summit with these words, sparking conversations and influential connections between some of the biggest and brightest players in media and ad tech for the remainder of the event. But these wordsRead More
The SintecMedia team was delighted to host an event last week at the NAB Show dedicated to content rights management and programming. As advertising and video technology has exploded in recent years, rights and programming can sometimes be overlooked, even though it is the beating heart of every media company.
The Future of Content event successfully brought rights and programming into the spotlight with a session of top-notch media companies represented. Everyone agrees that the future of media is one-to-one – creating a viewing experience that customizes content for the consumer while maximizing scale and automation for the media company. The most important focus for media companies is to create and maintain loyalty with great content that is true to the media brand. But everyone quickly turned to the need for data in many elements of their business to sustain content delivery, audience targeting and insight.
After I kicked off the event, HocusFocus guru Mitch Oscar led a panel of experts including Thomas Ziangas from AMC Networks, Chris Pizzurro at Canoe Ventures, Brad Danaher from Experian and Will Kreth from EIDR. The group got right to the point – one to one programming is the challenge, and the solution is data.
Channels, formats, targeting and many other elements of content management and distribution are exploding, making everyone’s job harder and leaving money on the table. What’s more, to compete with more technically-based media companies like Netflix, traditional linear companies need to step up their infrastructure and process without hurting their core business. The panel (and the lively discussion afterwards) touched on three important areas where data will be the key to success for media companies in the future:
Metadata: Several panelists emphasized that getting metadata in order is a no-brainer. If content and assets are not organized and catalogued correctly, up to 10% of revenue potential can be left on the table. With content management becoming so complicated, setting up and automating metadata best practices is a must.
What’s more, rights are also reliant on more data, and are harder to enforce manually. Rights includes specifics across languages, regions, channels and screens that need attention and automation in order to be managed effectively. No one wants to realize at the end of the year that they left money on the table due to metadatamalfunction.
Audience data: If metadata is the foundation of one-to-one media delivery, audience data is the Holy Grail. Without new forms of measurement that go well beyond standard GRPs, media companies will simply not be accurate or granular enough to provide personalized experiences for viewers that can also help their own brand stand out from the crowd.
With companies like Amazon and Netflix in the mix, traditional media companies are playing catch-up with audience data, not only for targeting but also for insights. Everyone wants to be able to identify high earners and soccer moms, but they also want to know what’s resonating – and why. Several people in the room emphasized that the magic comes when their company can produce content that’s core to their brand and also interesting to the audience. A media company has to get more insights about what consumers like, but also must be true to its own brand and purpose.
Performance data: Everyone is working to create a loyal audience across new platforms and channels such as OTT, video and mobile. It’s important to understand what content consumers are viewing and their completion rates as well as the revenue associated with various channels.
Programmers want to promote content, deliver content and measure content to get the best ROI for every viewer, regardless of where the viewer wants to watch. As several people at the event noted, the money is there. In addition to managing data, it’s about having the right insights, technologies and processes to take advantage of the opportunity in front of us.
Here at SintecMedia, we offer a suite of solutions to support media companies as they transition from linear programming and rights management to multi-channel to ultimately one-to-one delivery. We were thrilled to host such an important discussion among industry leaders and plan to continue the momentum in the future.
Click here to learn more about how to get the most from your content and continue the conversation.