Following the theme ‘Media in Action’, the NAB Show New York 2018 focused on discussing and promoting the best next-generation technology in the fields of television, film, and advertising, among others. With over 14,000 attendees and 300 exhibitors, the event was a premier platform for the media and entertainment industry to showcase its most innovative and groundbreaking products. As Quantiphi’s AI for media solution addressing opportunities around content cataloging, performance analytics, brand visibility measurement and production efficiency improvement, AthenasOwl felt the show was not to be missed. Quantiphi co-founder Vivek Khemani kicked off the event with an opening keynote and some great examples of software 2.0 that are being developed under the AthenasOwl suite of applications.
Featuring a panel of executives from top media firms including A+E Networks, Viacom, and Dalet Digital Media Systems, our keynote and panel discussion addressed the question, ‘Are you ready for the software 2.0 revolution in media?’ Quantiphi co-founder Ritesh Patel framed the discussion around how these new technologies come together in impacting some of the challenges faced by the industry, including business issues related to content, targeting and production. Software 2.0 equips content producers with the “ability to extract, at scale, the moments that resonate with so many people”, emphasized Isaac Josephson of Viacom, and the panel discussion went on to probe the true extent of this impact on production cycles and customer experiences. Highlights include:
1. Content performance analytics: Agreeing that we are living in the ‘golden age of content’, the panel noted how auto meta tagging is revolutionizing the industry. By saving many manual hours and expenses, automated content tagging allows producers to focus their resources on more meaningful efforts. Luc Comeau of Dalet Digital Media Systems expanded on this by pointing out that “with software 2.0 and cognitives, the challenge lies in aligning content from different avenues. As these cognitives get better they are going to provide us with enhanced information on our content and identify newer things.”
2. Brand visibility measurement: Consumption devices and platforms are aplenty today and it is an increasingly complex task for brands and advertisers to measure their ROI. Software 2.0 helps identify the best placement spots for brands, which in turn optimizes on-screen visibility – an achievement that has thus far eluded manual techniques. The panel however pointed out that accurately measuring real-time ROI still remains a challenge.
3. Production efficiency: With new technologies automating tasks that consume immense amounts of tedious manual hours, production efficiency and monetization efforts have been greatly improved. By addressing these traditional business challenges in novel ways, software 2.0 is in turn shaping the industry’s future.
The panel also examined how technology drives change and assessed how customer behavior boosts innovation. Ishit Vachhrajani of A+E Networks noted that it is a great time to be a consumer. Recalling a time when movie watchers struggled to beat the Friday night rush for Blockbuster’s new releases, he reminded the audience that with great improvements on platforms like Netflix, they were living in a different world now. “But the fundamental shift,” he pointed out, “is more on consumer behavior, than just their experience. We have trained customers to expect abundance. And when consumers expect that and pay for it, it is great for any industry.”
This engaging session on the impact technology is having on the media and entertainment industry offered the audience a chance to understand the drivers behind key trends from the perspectives of global media leaders.
Missed the panel discussion? You can watch highlights of the session here!