With the proliferation of online distribution channels and the emergence of mobile streaming devices, the consumers in today’s digitally oriented world can access media content on their own terms. For media industry players this diverse mix of distribution channels creates huge challenges in tracking demographics and consumption patterns of the end-users, ultimately undermining their traditional advertising revenues. To keep up, they must transform into efficient, data-driven enterprises.
The client in this study is a media industry player who wanted to build stronger bonds with the most profitable customer segments. Though the media industry player flourished through aggressive pricing strategies a surge in customer churn prompted them to enhance their campaign effectiveness through the use of big data analytics. The client approached Quantzig to leverage its expertise in big data analytics to track and enhance its campaign performance and drive better results.
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Quantzig’s big data analytics solution helped the client sort through massive volumes of campaign data and translate the extracted data into intuitive reports and visual dashboards that quickly conveyed the status of the ongoing campaigns. With this information available at their fingertips, the client was able to continually adjust their campaign tactics to improve the overall effectiveness
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Media Industry Trends 2019
Digital transformations and big data analytics have disrupted every industry and the media industry is no exception. As we head into 2019 its essential to make note that what is considered as digital transformation trends in the entertainment and media industry is truly reflected in the trends of media consumption globally. Though the entertainment and media industry was one of the first industries to successfully navigate the digital disruption, its transformation is far from over. In 2019 the media industry is set to witness new and advanced technologies which will make it one of the largest growing revenue segments globally. The biggest media industry trends to look for in 2019 include:
Multichannel is everywhere: It’s no longer sufficient to depend on a single mode of entertainment. The constant need for a multi-platform experience is driving leading brands to discover the power of multi-channel platforms in keeping viewers engaged. This trend has been growing consistently every year and is expected to do so in 2019 as well.
Commercials galore: With the ongoing technological developments 2019 is poised to witness an increased spend on digital advertising. Also, the proliferation of data sources will enable media industry players to offer services that are more tailored to suit individual preferences.
Marketing is set to take a new turn toward AI and machine learning: Gone are the days of throwing spaghetti at the wall to see what sticks. Today media industry players are leveraging the use of machine learning, big data analytics, and artificial intelligence to cater to the distinct needs of the hypersegmented target audience.