Media is as old as the first humans. It changes, but the goal is always the same – bringing people together. With evolving demands, it has progressed and become more instantaneous, telling better stories.

While new technologies are evaluated and brought into the industry, AI’s infusion has set the stage for a significant change. Artificial intelligence has become the catalyst in the media and entertainment sector, enabling the industry to satisfy the ever-changing viewer demands. The vast majority of companies are focused on optimizing operations and improving personalization. Companies that don’t prioritize harnessing the power of AI run the risk of getting left behind.

According to a Forbes article, 67% of consumers expect brands to provide real-time personalized experiences by automatically adjusting the content based on their current context.

AI-powered personalization

Personalization is about tailoring the experience to everyone’s delight. While recommendations are made around items, personalization is built around individuals. It does not only entail the content but is about making the entire experience more enjoyable and engaging. Recommendations drive better engagement, but in the debate of whether data should be shared or not, the customers want brands to be mindful of how their information is being used. They want and prefer enhanced customer experience. The global AI in media & entertainment market size was estimated at USD 14.81 in 2022 and is estimated to grow at a CAGR of 26% from 2023 to 2030 (Source - Grand View Research). In 2022, the global generative AI in the media and entertainment market was valued at USD 1.2 billion (Source - Marketreseach.biz). With data being collected, assessed, evaluated, and stored to draw patterns at every step of the value chain, customer outreach has increased. In fact, AI has its impact on each stage of the media value chain.

Understanding the media value chain

The media value chain refers to the end-to-end media process from ideation to consumption. It encompasses the various stages and stakeholders involved in delivering media content to the audience.

Content ideation & creation

Content creation is about what will attract the audience and how to make the narration more engaging. This involves media professionals, such as writers, filmmakers, musicians, journalists and everyone who owns any internet-enabled device.

Content acquisition & aggregation

With increasing competition, companies strategize to bring content from different sources onto a single platform to form a comprehensive catalogue. This process of sourcing also involves purchasing rights or licensing agreements.

Content distribution & transmission

Once ready, content is made available to the consumers in various forms, including traditional methods like broadcasting on television or radio or digital distribution through streaming platforms, websites, or mobile apps.

Content Consumption

Viewers/readers can access the content through multiple channels ranging from the big screen of a TV to the small screen of a smartwatch.

Monetization

Monetization is a crucial aspect of any business. Companies have different monetization strategies aligned to their vision. They generate revenue through various means, such as advertising, subscriptions, pay-per-view models, merchandise sales, licensing agreements or even by selling data.

Customization and personalization

Use AI-generated text and imagery for content ideation & creation

Original was, is, and will be in demand forever. Humans will always be at the forefront of creating content, and AI will facilitate that. Predictive analysis provides insights into what content the targeted audience segment might like. Nagarro worked on one such engagement project where real-time automated graphs were generated for an election results infographics.

Journalists, writers, bloggers, or creators can tailor their ideas and content to align with the demand. Recommendations on the topic or the keywords using Large Language Model (LLM) would save them some effort on research and empower them to create more compelling content. Open AI’s AI-generated text and imagery can facilitate content creation. It is not only text; but videos can also be automatically generated just with textual inputs. Once done, AI-powered tools can review the videos to identify and tag objects. Content curation can be automated, where fixed content can be created once, and variables will be changed in real-time. 

Perform AI web scrapping to identify relevant content and partner acquisition

AI web scraping can automatically crawl through different websites, social media platforms, or other sources and easily identify relevant content. Nagarro worked with a media house to develop a platform generating custom tags to enable easier content search. Read this success story to know how Nagarro created an AI/ML-driven platform that enables faster and easier content search from 15,000+ hours of video content.

Content performance analysis can serve as a basis for partner identification for acquisition. Once identified, the filters can be defined to do a fact check and categorize the assembled content. Automated clustering can be applied to the same content, based on demographics and sentiments, making it easy to provide recommendations to the users. AI can enable easy identification of plagiarism and rights management. There are several other use cases which contribute to an increase in operational efficiency using AI. 

Leverage the power of AI for better content distribution & transmission

AI can help optimize delivery, enhance efficiency, and reach out to a wider audience, delivering personalized experiences. At Nagarro, we worked with a large broadcaster to design and develop an automated system that delivers feed to different partners. Click here to know more about our smart feed generation system.

Content delivery can be dynamically adjusted for factors like format (based on the device being used), resolution (based on device settings), compression (based on network bandwidth), etc. Translators can change the content into another language. With AI, this capability goes beyond subtitles and even the spoken content is dubbed easily. AI can enable engagement-based content publishing/scheduling, especially on social media. 

Provide personalized content and enhance customer satisfaction

AI can read through the historical data and combine behavioral attributes with predictive learning to deliver genome-based experience and create an enhanced impact. Not only articles and videos but even news, music, and podcasts can be suggested. 80% of Netflix viewers go for a recommendation, and only 20% search for the content (Source - Deloitte). For one of its clients, Nagarro harnessed the power of advanced Natural Language Processing (NLP), machine vision, text summarization, and video editing to develop impactful trailers of their video content.

With AI into being, the data for content consumption and audience behavior is captured and the analytics are fed back into the system to create strategy around the consumption pattern. The thumbnails can be designed on a real-time basis compelling the users to click on the content as it aligns with their viewing preference. Using a single backend library, the look and feel of the OTT application can be changed with just a few clicks (here's your guide to configurable UI using reusable components in OTT applications). Voice assistants can let the users find the desired content effortlessly, and viewers who wish to see the snippets or read summaries can be also done easily. 

Optimize monetization strategies with AI-powered subscription plans

With the increasing subscription fatigue, hybrid models (combination of subscription-based/transaction-based/advertisement-based monetization models) are what content providers are heading to. AI can analyze the demand, consumption, and trends, guiding the organizations to optimize their pricing strategies. As covered in our blog on How personalization in monetization strategies can play a key role in OTT? AI- powered subscription plans can increase the revenue potential. In the case of Advertising Video on Demand (AVOD) or Free Ad Supported Streaming TV (FAST), data can be analyzed to project targeted advertisement increasing the CTR. Operations can be optimized through a dynamic ad sales portal for multiple distribution channels of the service provider with recommendations at each step of booking. AI can help reduce churn by identifying disengaged subscribers and categorizing them as at risk. Nagarro worked with an airline company to extract customer 360 insights to personalize the experience and reduce churn. Read this success story to know how we built a 360-degree customer view to achieve advanced customer segmentation for campaign planning and optimization.

Conclusion

The beauty of AI-driven solutions is that they are inherently dynamic, and with time, the benefits magnify. While AI will drive smart and intelligent work, it will also enable informed decision-making. AI is essential in crafting a hyper-personalized strategy to forge meaningful bonds with the users. AI has powerfully reshaped our media and entertainment industry, and there is much more to explore. While AI makes the ecosystem more responsive, intimate, efficient, creative, and sustainable, the focus is always on humans. At Nagarro, we enable you to achieve the next level of digital maturity with this power-packed technological advancement.