Why are Media and Entertainment Companies are Embracing a New Strategy

Eye in the Sky 

Media and Entertainment companies are migrating to the cloud for greater speed to market, global scalability, and improved collaboration. Cloud technology has made storing and managing substantial amounts of data easier than ever for media and entertainment companies. These include video and audio files. Cloud storage services like Amazon S3, Google Cloud Storage, and Microsoft Azure Blob Storage allow companies to store their data in the cloud so that they may access and retrieve data from anywhere at any time. This also makes backing up data easier, protecting a company's valuable assets. According to Kedar Mohite, former Birlasoft Global Head Media & Technology Practice, “It is important to note that while M&E companies are not ultimately moving away from existing storage models, they are increasingly eying the cloud platform to achieve their production, distribution, and archiving goals. The cloud delivers agility, unlimited scale, flexible consumption, privacy, security, and many other advantages to the M&E industry.” 

The Time is Now 

In today's ever-changing, technology-infused landscape, media and entertainment businesses must be agile and adaptable to remain competitive. Time To Market (TTM) ensures product relevance after release and avoids wasted resources or potential failure. Reducing TTM is helpful to M&E companies for ensuring future success. “According to the McKinsey & Co study, if a product is more than 6 months late to the market, a company earns 33% less profit over the next five years.” 

Ease of Expansion 

Cloud computing breaks boundaries by allowing companies to scale and expand their operations easily. Businesses use cloud scalability to quickly add servers and nodes as needed without investing in costly infrastructure improvements. This seamless scaling process allows them to maximize resources while effectively managing demand. This major benefit is offered through popular third-party providers such as Amazon, Google, and Microsoft's cloud solutions platforms. 

Keys to Success 

One of the key advantages of cloud technology in the media and entertainment industry is remote collaboration. According to a blog post by disguise.one “Cloud computing is all about accessibility. Workers can access whatever they need, wherever they are, whenever they want.” Writers, editors, and other content creators can use cloud-based tools and platforms to work with teams on projects, regardless of location. This has led to a more efficient and productive workflow. The M&E industry has had to adapt over the past three years to stay successful quickly, and cloud-based remote collaboration was crucial. With animation studios like Pixar producing high-profile films such as Soul during periods of intense lockdowns, it was paramount that they expand their existing cloud technology capabilities - or else see extensive delays on key projects. “The best cloud services enable businesses to be location agnostic, meaning that their staff can, in theory, log in from anywhere in the world to carry out their work. This does not necessarily work for every industry, but in M&E it can be a real boost to projects.” 

Dollars and Sense 

Another way that cloud technology has changed the media and entertainment industry is by using cloud-based platforms and services for distribution and monetization. For example, streaming services like Netflix and Hulu use cloud-based infrastructure to distribute their content to viewers, while platforms like Patreon and Kickstarter allow content creators to monetize their work through crowdfunding and subscription-based models. “COVID-19 pandemic has permanently changed consumers' content consumption habits, disrupting the media & entertainment business models. The global lockdown forced people to stay at home, which resulted in a spike of 30% in online data consumption.”  

Cloud technology has transformed the media and entertainment industry by making it easier for content creators to produce, distribute, and monetize their work. Cloud technology has also increased Time To Market for new products and helped media companies to store, manage, and back up their data more efficiently.  

Ntegral simplifies what you do in Cloud. We offer Enterprise Workload Solutions and IT Consultancy to accelerate your technology transformation. Contact us today at success@ntegral.com for your next big project in Cloud.

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