Top 5 Data Management Challenges in Media and Entertainment

The challenges

Publishers, broadcasters, media aggregation platforms, distributors, digital advertisers, rights management (royalties) and licensing (public performance/synchronization) companies are all dealing with an ever-shifting library of content (old and new) along with multiple sales/subscription models now including streaming, downloads, and physical.

Whether they are using direct-to-consumer distribution or over-the-top (OTT) media models, "premium" content and "the customer experience" have become key factors.

1. Multiple data streams

Aside from the vast quantities of content and metadata, additional data is now being generated from a multitude of devices ranging from smart TVs, TV sticks, set-top boxes (STBs), computers, smart phones, tablets, to all manner of Internet of Things (IoT).

2. Increasing subscription/premium content

COVID has generated a massive swing to Subscription Video On Demand (SVOD) or Premium Video On Demand (PVOD) platforms over the traditional Video On demand (VOD), Transactional Video On Demand (TVOD), or Advertising Video On Demand (AVOD) models.

3. Harmonizing data

All this content, data and metadata has to be harmonized across independent divisions who may have no coordination and when this is combined with fragmented data silos, some built up from legacy systems, centrally coordinated data governance and master data management becomes fundamental. This allows you to create a 360-degree view of your data and empowers the VP of Data Strategy, Chief Data Officers (CDOs), and Senior Data Architects to make business decisions based on data rather than guesswork.

4. Handling spike events

It is also very important to be able to handle spike events such as big TV/film launches, sports, and all manner of live entertainment. Again, it is not just the volume, but the requirement to handle all this data arriving simultaneously, all at the same time.

5. Managing metadata

Finally, there is the importance of metadata. Media Asset Management (MAM) requires huge amounts of metadata in lots of different sizes and formats and for many different purposes. It's always important to understand the metadata model first before embarking on major data projects.

Opportunities once you are managing your data

Once you are managing the data properly it opens up the possibilities of using analytics to help with increasing customer loyalty, reducing churn, increasing revenues, and reducing costs. You can:

• know what content, data, and systems you have

• utilize metadata with licensing info to prevent copyright infringements and file size info to improve streaming speed

• improve services e.g., offer personalized content and premium service(s)

• refine search and recommendations

• understand user identities, interests, habits, and their short-term purchasing intentions

• increase acquisition (including trial to subscriber) and reduce customer churn

• optimize scheduling

• utilize addressable TV showing different ads to different households

• fine-tune ad targeting in multiple ways

• monetize the content with structured solutions

• streamline operating models

• lower content production costs

• assist with, not hinder, complex licensing and contracts

• integrate the supply chain and handle ever-changing technical requirements

• identify new products or service opportunities

• enable product managers and Data Officers to research and create business cases

Getting the right tools for managing your data

The Accurity platform includes Business Glossary and Data Catalog, data management and data integration software, which help you integrate and manage your data, create an overall picture of your data, visualize your data assets and connections, create business linage, and assists you in harmonizing your data ready for analytics and monetization purposes.

Accurity and Simplity Professional Services can kickstart your digital transformation as the software platform is easy to get started with and will grow with your needs and ultimately cover all the bases of your data management requirements. Alternatively, if you already have a digital transformation strategy but need a digital transformation solution, the Accurity platform will assist with your essential digitization and data management prerequisites.

Take a look at the Accurity platform, sign up for the SaaS version for free, or book your free, personalized 1-on-1 demo now.