If the broadcasting industry has learnt anything in the last few years, it’s that hardly anything is predictable. Although the industry has always had an element of flexibility, the stakes are now rising for broadcasters wishing to stand out amongst the crowd. Having the ability to adapt quickly to the latest consumer and technological trends is becoming more crucial.

As a result, flexibility holds a pivotal role for broadcasters to meet rising viewer expectations, keep costs manageable, and to maximise revenue streams. Let’s explore its importance:

Technology

Technological advancements have brought many benefits to broadcasters over the years. With the industry having no choice but to adopt alternative workflows in the last few years, broadcasters are now beginning to fully embrace the benefits that the cloud brings. Teams can now work from any location without the restrictions of physical hardware holding them back.

However, with so many vendors now offering cloud-based tools and services, broadcasters are finding it difficult to find a platform which can meet all their needs. This is where integration is key; Having tools which are compatible with others, results in streamlined workflows, optimised resources, and more efficient management of content. Furthermore, the right cloud technologies can equip broadcasters with the scalable solutions they need to evolve.

Consumer Habits and Market Saturation

We don’t have to look much further than Netflix to see that viewing habits are changing. Despite being the market leader in streaming since 2007, rising competition and growing expectations of consumers, the media giant announced that it had lost almost 1 million subscribers in the last 3 months to July 2022.

Of course, it is difficult to fully understand broad and diverse audiences, but analytic tools exist to deliver audience insights. Gathering data into the way consumers are accessing and engaging with content is crucial for improving services and viewing experiences. Understanding what the audience wants and having the ability to evolve and meet their needs is vital when maintaining relevance in the broadcasting world.

We know consumers are spoilt for choice when it comes to how and where they access their favourite content, but many broadcasters are struggling to keep up with the growing marketplace of media. Creating great content is good, but it’s not enough. Broadcasters need to diversify their platforms by ensuring they are delivering the best content, which suits all budgets, delivers the greatest user experiences, and meets the individual needs of the viewer.

Monetisation Models

With the need to maintain quality without compromising on cost, it can be difficult for broadcasters to know how and where to monetise content. Integrated ad campaigns, which use a multiplatform approach, provide opportunities to maximise monetisation models. Targeting consumers through a variety of platforms, devices, and channels, makes it easier to optimise content delivery and reach the right audience.

However, broadcasters need to maintain flexible approaches that enable them to adapt as consumer demands dictate. This will lead to higher engagement from audiences and result in better investments from advertisers.

The broadcasting industry has proved its agility in the last few years. Whilst there are too many changes within the industry to prepare for clear-cut strategies, adopting flexible approaches will ultimately pave the way to success. Introducing tools which support flexible and scalable workflows will allow media operators to exploit their offerings, thus securing their place in the competitive landscape of media broadcasting.

Learn how Broadcast Traffic Systems (BTS) helps broadcasters meet their flexible workflow needs, and discover how our tailored, cost-efficient traffic management solutions support your business to grow as the media landscape continues to evolve.