Tag: media companies

Media and entertainment

How Artificial Intelligence is Disrupting the Media and Entertainment Sector?

Today, media and entertainment companies face multiple challenges that can be attributed to factors such as live streaming of content, unpredictable traffic, personalization and publishing permission-based content. Companies in the media and entertainment sector are investing a significant portion of their budget to improve bandwidth for streaming content seamlessly.

Artificial intelligence enables media and entertainment companies to precisely target audiences based on their media consumption patterns, increasing the chance of a conversion.

Media companies can use artificial intelligence to become more creative and productive as it can help in personalizing user experience, search optimization while improving content-creation and production processes. Additionally, media companies can leverage artificial intelligence to automate operations and drive decision-making. In this article, we have highlighted a few benefits of artificial intelligence in the media and entertainment industry that can help companies to gather data at scale and improve the consumer experience.

Although contents are carefully customized, companies often fail to see where in they started losing customers. We can help. Request a free brochure of our analytics solutions now!

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Use Cases of Artificial Intelligence in the Media and Entertainment Sector

Facilitates real-time streaming

Artificial intelligence helps companies in the media and entertainment industry in real-time content streaming. Also, it helps in customization, packaging, and transmission of content in real-time. As a result, this enriches consumer experience and improves ad sales through targeted ad insertions. Also, AI can help in interpreting streaming content and extracting metadata. This, in turn, will help media companies in monitoring content more effectively and protecting the privacy of users.

Talk to our analytics experts to know how we can assist publishers, marketers, and media agencies with detailed insights into consumer behavior.

Boosts user experience

In today’s digitized business landscape, it is important for companies to interact with their customers effectively. Targeted content and relevant recommendations are the most common ways to do it. Artificial intelligence not only helps media companies to serve their consumers with relevant advertising but also in defining a user’s relevant emotional state and the proper timing to publish this ad.

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Improves content management and delivery

Just as a content generation can benefit from AI, also can the management and delivery of that content. Artificial intelligence and advanced algorithms can help in content-based searches and content suggestions based on selections over time. This helps media companies to precisely target audiences increasing the chance of a conversion. Artificial intelligence has the potential to close the loop between audiences, content generation, management and delivery, and the subsequent consumption of that content. Furthermore, it can offer valuable insights on audience behavior that can help in improving the content production process and marketing strategy.

Learn more about how artificial intelligence can help in monitoring the effectiveness of media investments and digital marketing campaigns.

media and entertainment industry

Big Data Trends: Driving the Future of Media and Entertainment Industry

With the media and entertainment industry evolving at an unprecedented rate, there are twin needs that are driving the industry today. These twin needs are to reduce operating costs and generate more revenue from increasingly competitive, diverse and uncertain markets. Today smartphones and digital media have become a major source of entertainment for the population around the globe. As a result, media distributors and broadcasters are embracing big data analytics to establish a connection with their customers. Big data in media and entertainment industry is not only helping businesses to gain hidden insights into customer behavior but is also facilitating the delivery of personalized content. Additionally, big data in the media industry is helping to drive digital transformation and exploit not only available data but also new sources of data from both inside and outside the organization. Therefore, for companies in the media and entertainment industry, big data holds the key to drive profitability. In this article, our experts from the media and entertainment industry have discussed in detail about how big data is changing the media and entertainment landscape.

Quantzig’s big data solutions help companies in the media and entertainment industry to analyze large data sets efficiently. Request a FREE proposal right away to gain better insights.

How Big Data is Changing the Media and Entertainment Landscape

Predicts audience interests

Traditionally media content was developed only in limited forms. But today they have got replaced by myriad media services like live streaming, pay per view, and much more. In the process of content delivery across these forms, media distributors also collect a vast amount of user data. Big data in the media and entertainment landscape can offer an in-depth understanding of the behavior and preferences of consumers. For example, big data analytics has helped a major media channel to unearth several interesting statistics about its users including insights on  the kind of videos viewers watch and the device they use for video streaming. Big data in media and entertainment industry can be leveraged to understand audience behavior and syndicate content that is closely aligned to their viewer preferences.

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Provides insights into customer churn

The most critical challenge for media and entertainment companies today is to devise strategies to deal with the risk of customer churn. Big data in media and entertainment industry has helped in combining and making sense of all the user data from multiple sources, including social media. With the advent of Big Data in media and entertainment landscape, it is now possible to uncover reasons that drive customers to subscribe and unsubscribe any particular channel or platform. Actionable insights into responses towards pricing and subscription models can also be drawn with big data in media and entertainment industry. By leveraging big data in media and entertainment, content pricing, media content and even delivery modes can be tailor-made to reduced customer churn.

At Quantzig, we understand the various challenges that media and entertainment companies face in analyzing the feasibility of big data analytics for their business. Our big data analytics solutions are tailor-made to suit the requirements of each business. Request a free demo to know more.

Optimizes  scheduling of media streams

The increasing growth of digital media distribution platforms has literally reduced the barrier that existed between end-users and distributors. With big data in media and entertainment reaching the end-users directly without any intermediary has become feasible. Moreover, big data analytics has helped media companies to connect with the audience directly through scheduled media streaming and maximize profits. Additionally, big data in media and entertainment industry has helped in identifying the exact content which customers would want to engage with on a scheduled basis.

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Media and Entertainment Industry is Evolving with Big Data Analytics, Are You Keeping Up?

Big data analytics has become a huge game-changer in most, if not all, types of modern industries over the last few years. Some of the key big data applications for modern companies include enhancing customer experience, achieving cost reduction, better-targeted marketing, and improving existing processes. Several recent data breach incidents have also made enhanced security an important goal for big data analytics to accomplish.

Big data analytics in media and entertainment industry 

Media and entertainment companies are shifting to a content-centric model in order to embrace a customer-centric world. The ultimate aim of companies in the sector is to reduce customer churn by delivering top-notch customer experience. With smartphones and associated digital media becoming the major source of entertainment, it is high time for media companies to leverage big data analytics to create a connection with their customers. However, the ability to access, analyze, and manage large volumes of data while rapidly evolving the information architecture is becoming increasingly critical for companies in the media and entertainment industry who are determined to improve business efficiency and performance. Furthermore, media companies often face the challenge of correctly identifying why some customers subscribe and unsubscribe to their content or services. Media companies also face difficulty when it comes to analyzing why and how customers react to pricing and subscription models. Big data analytics can enable a better understanding of the consumer as the content is created to ensure success.

Analyzing large data sets is one of the biggest problems Contact USaffecting the business outcomes of media companies today! Get in touch with our industry experts to know how to beat other companies to the chase with the help of big data analytics.

Big data applications in the media industry 

The future of the media and entertainment industry is largely dependent on the amalgamation of both digital and big data analytics solutions. The rapidly rising digital consumerism offers a plethora of opportunities for media and entertainment companies to leverage big data analytics for better customer engagement. Below are a few examples of how media companies can benefit from big data analytics:

Predict what audiences want

One of the primary big data analytics applications in media companies is to understand what the target audience wants. The amount of data that media companies gather gives them ample opportunities to leverage big data analytics capabilities to understand the demand of the genre of shows, music, content for a given age group on various different channels.

Ad targeting

Big data analytics gives companies in the media and analytics industry a better understanding of the digital media and the consumption behavior of users across various platforms. By using traditional demographic data, companies can personalize advertisements to suit the needs of specific users. Using big data analytics and offering micro-segmentation of customers to their advertising networks and exchanges, media and entertainment companies can also increase digital conversion rates.

Content monetization and product development

One of the key big data analytics applications in the media industry is that it helps in additional revenue generation for media and entertainment companies. Accurate data gives companies the ability to incentivize consumer behavior and, in the process, reveals the true market value of the content that has been generated.

Scheduling optimization

Using insights from big data analytics, media companies are able to understand when customers are most likely to view content and the devices that will be used to access content. With the scalability of big data analytics, this information can be analyzed at a granular ZIP code level to facilitate localized distribution.

Insights on customer churn

A serious menace that media companies find almost impossible to tackle is customer churn. It has been found that a considerable population of customers share their reviews through social media. Until the advent of big data analytics, combining and making sense of all the user-generated data from multiple sources, including social media was next to impossible. With the advent of big data analytics, it is now possible to know why customers subscribe and unsubscribe from a particular type of content. With the help of big data analytics, it becomes easier to clearly gain insights on what kind of programs they like and dislike.

On the flip side, implementing big data analytics in media and entertainment comes with its own set of challenges that media companies must overcome.

Big data challenges for media companies 

The unprecedented rate of growth of the media and entertainment industry is forcing companies in this sector to keep up with the rapid pace of change. The shift from traditional platforms to online channels paves the way for media and entertainment industry companies to implement big data analytics technology to gain a more profound understanding of customers’ needs. But, with the rapid adoption of digital technologies, the media industry does face a few big data challenges, which slows down their progression. To completely realize the potential of digital technologies, media companies should successfully tackle these big data challenges:

Data privacy

Numerous instances of the breach of personal data and media are making consumers more sensitive towards their data. Additionally, policymakers have also addressed their issues and have implemented regulations for companies handling personal data of customers. Regulations have also been imposed on companies that broker personal data to media houses. Such big data challenges can pose problems when it comes to accumulating sufficient user data, without which conducting accurate analysis is impossible.

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Lack of financial muscle

Media start-ups and SMEs often face challenges related to adequate financial capital. While accounting for cost factors to implement big data analytics, companies need to analyze several factors like data storage costs, infrastructure costs, data processing costs, and human resource costs. Although it is relatively easy to start a new company producing content, games, or apps, it can prove difficult to scale up without significant investments.

High bandwidth requirements

Today, audiences consume a large part of the content via online platforms. High-speed broadband is a must to facilitate this. However, the penetration rates of high-speed broadband services aren’t as impressive across the world as it is in metro cities. This largely reduces the potential customer base and allows data collection from only urban segment consumers. Analysts lose the opportunity to gain insights from customers who lack access to high-speed broadband and, therefore, resort to traditional platforms.

Piracy and copyright issues

Piracy and copyright issues have been a major concern for the media and entertainment industry over the past several years. However, the advent of the digital medium has created new big data analytics challenges such as the problem of account sharing. A large number of people gain access by sharing account information and passwords for the majority of video streaming sites. Analysts will have a tough time performing analysis on customer behavior and preferences as they cannot pinpoint the demographic details of the user. Furthermore, in some cases both the child and the adult may be using the same account, here an effective judgment is impossible on who prefers a specific genre.

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How to overcome data security issues facing media companies? 

Companies in the media and entertainment industry are collecting and using a huge amount of data. This gives rise to concerns over security issues that can compromise even locally generated information. With several instances in recent times reporting data breaches especially in the media and entertainment industry, it has become imperative for companies in this sector to make data protection a priority and establish strict security measures. We, at Quantzig, have identified some of the critical ways in which companies in the media and entertainment industry can guard data against breaches in both big data analytics deployments and any software that accesses the data:

Ensure endpoint security

Trusted certificates at each endpoint will help to ensure that the company’s data remains secure. Additional measures that companies in the media and entertainment industry should use include regular resource testing and allowing only trusted devices to connect to their network through the use of device management (MDM) platform.

Prevent insider threats

It is not just external threats that media companies must combat but also several internal security risks which include disgruntled or simply careless employees. Such challenges are faced by media companies where employees who work with the data are not fully educated on proper security practices and behavior, including data scientists and software developers. So, it is vital to provide digital security training to all employees.

Analyze and monitor

A big data analytics solution that includes tools for both analysis and monitoring in real time can raise alerts in events where a network intrusion is detected. But this can result in large amounts of network data. The goal is to provide an overall picture of what’s happening over sometimes large networks from moment to moment. Companies in the media and entertainment industry may not have the resources to monitor and analyze all the feedback generated, including false alarms as well as real threats. Here, big data analytics itself can be used to improve network protection. The company’s security logs can be mined for abnormal network connections. This will make it easier to identify actual attacks as opposed to false alarms.

Final thoughts

Research suggests that a large number of companies across industries have already invested in or are planning to put in their money in big data analytics due to the huge impact of big data analytics globally. The media and entertainment industry stands out as a prompt adopter of big data analytics solutions because a huge volume of data is generated digitally in this vertical and enables change in the consumer research programs.

We understand the various challenges that companies face in analyzing the feasibility of big data analytics for their business. Our big data analytics solutions are tailor-made to suit the requirements of each business. Request a free demo for more insights.


Top 3 Ways Advanced Analytics Can Transform Media and Entertainment Industry

Art and science are often seen as two different entities, especially with art exploring what gives it meaning and science focused on explaining how the world works. But today, the trend in the media and entertainment industry to link the two and get better returns by using technologies like advanced analytics, the Internet of Things (IoT), artificial intelligence (AI), and machine learning is growing. In this competitive era, companies in the media and entertainment industry are also facing the heat of increasingly competitive and uncertain markets. The growing focus on data-driven marketing and digitization has induced a revolution in the media and entertainment industry on how it uses advanced analytics. The future of the media and entertainment industry is dependent on the fusion of both digital and analytical solutions. Now, enterprises are eager to transform media platforms in order to provide more personalized content to its audiences. In this article, we have offered a detailed insight into how advanced analytics can revolutionize the media and entertainment industry and how it can be a palpable game-changer in the current circumstances and dynamics of the quickly changing world of media.



Digital Customers Experience: Top Picks This Season

In this era of digitization, delivering an extraordinary digital customer experience is one of the factors that can take businesses to the pinnacle of success.  Satisfied customers tend to exhibit deeper loyalty to the brand, spend more, and help companies to reduce their costs. However, the developments in digitization and technology have raised the bar for companies that intend to provide a superior digital customer experience. With most companies hopping on to the digitization bandwagon, customers today expect ‘more and different’ engagement experiences from brands. Companies that are up-to-date on the latest digital customer experience trends have an edge over their counterparts in the market. While there are several digital experience trendsRequest Solution Demo that have been faring well in grabbing more eyeballs, here are our top picks from the lot:

Improvising the mobile experience 

Mobile devices and human beings are now inseparable. This makes mobile media the best platform to reach out to their target customers, even when they are on the go. Digital customer experience through mobile is already at the core of digital marketing strategies, but there is still immense scope of improvement in the space. A recent study shows that customers are less likely to engage with a company due to the bad digital customer experience provided. Top brands are now using techniques such as in-app feedback where they collect suggestions from users for improvisation.

Rise of personalization 

Personalization is one of the best marketing investments today. Today’s customers have plenty of options at their disposal and personalization is one of the best tactics to gain an edge in the market and build a connection with the prospects. With personalization, companies can provide a digital customer experience that gives the user the desired experience and promotes the products and/or services that are truly relevant for them. When you bombard customers with content that is irrelevant to them, customers tend to form a negative impression or lose interest in your brand.

Greater automation with artificial intelligence 

The capabilities of artificial intelligence (AI) is getting bigger and better with each passing year. AI technology is expected to automate more digital customer experience tasks this year, which would give digital teams more time to concentrate on other core tasks. The technology will also be useful in managing cloud complexity that has the potential to not only reduce costs but also provide better security and performance.

Growth of home devices 

Siri, Alexa, and Google are gradually becoming an integral part of most households. These home devices are making consumers increasingly accustomed to centralized voice usage. Home devices are revamping and greatly enhancing the digital customer experience. With the rising competition among big players like Apple, Amazon, and Google to establish themselves in the home devices market, the functionality of these devices will only improve further.       

Self-service analytics 

Big data is a powerful tool for companies to gain an in-depth knowledge of the customer behavior and ways to improve the digital customer experience. However, not everyone in the organization has access to this data or often have limited technical expertise to convert this data into meaningful insights. Companies are now encouraging the use of self-service analytics which is a form of business intelligence where employees are enabled and encouraged to perform queries and generate reports by themselves with minimal IT support.

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Why the Media Industry Needs to Upgrade to Big Data Analytics

Big data analytics has become an invincible tool to stay competitive in any business. In fact, there is hardly any sector that has been left unaffected by big data. The media industry, known to be hungry for innovative content and technology, has been one of the early adopters of big data analytics. Media companies may have better opportunities than most, as the very act of consuming content provides incredible amounts of data that can inform every aspect of content generation, packaging, and distribution.  With smartphones and associated digital media becoming the major source of entertainment, creators and distributors in the media industry must embrace advanced analytics capabilities to strike a chord with the customers. It is crucial for media companies to seize the opportunities this data presents—or watch their pure digital competitors extend their lead in consumer intimacy. HereRequest Solution Demo are some of the key use cases of big data analytics in the media industry and why it should not be ignored:

Predicting audience demand 

The entertainment and media industry gathers a large amount of data on an everyday basis. This data collected can be used by companies in the media industry to understand the demand of the genre of shows, music, content for a given age group on different given channels. When customers feel that the companies understand their needs and show them exactly what they want to see, they become more loyal to your brand. There is nothing that is as valuable as creating a loyal customer base.

Customer acquisition and retention 

With the help of big data analytics, companies in the media industry can decipher exactly what customers subscribe to and what they unsubscribe from. Based on this data, players and media creators can alter their content accordingly to suit the likes and dislikes of viewers. This will also help them in developing the best promotional and product strategies to attract and retain the audience.

Ad targeting 

Big data analytics provides media companies with a better idea of the digital content and the consumption trends of users across various digital platforms. Companies can leverage the traditional demographic data to personalize advertising for users. By offering micro-segmentation of customers to their advertising networks and exchanges, players in the media industry can also increase digital conversion rates.

Scheduling optimization 

Big data analytics provides insights to companies in the media industry about when customers are most likely to view content and what devices will be used for the same. With big data analytics’ scalability, this information can be analyzed at a granular ZIP code level for localized distribution.

Product development 

Additional revenue generation is one of the main advantages that big data analytics provides for media and entertainment companies. Media companies can incentivize consumer behavior and reveal the true market value of the generated content using accurate data. If companies find any gap in the existing content and the popular consumer demand, they can use this data in the development of new content.

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Entertainment Industry Opportunities and Challenges You Need to Be Aware of in 2018

Trend prediction for various industries is one of the most trending topics at the beginning of each year. Industry experts keep a close watch on these trends so that they can be prepared for changes and alter their strategies to stay relevant in the market. Also, it is highly essential for businesses to keep a closer watch on the opportunities and challenges that are coming their way. This would help them prepare themselves to withstand contingencies and capitalize on the opportunities at the right time. Given the rapid rate at which content creation, distribution, and monetization is being disrupted in the media and entertainment industry, it becomes critical to focus on the changing dynamics in a more scrutinized fashion. Media companies have no option but to be on their toes and decipher ways to drive customer and brand relevance, strategic growth, and operational excellence. We have decoded a few opportunities and challenges that entertainment industry companies need to be prepared for in 2018:Free demo

Cyber risks

The rallying cry for companies over the past decade has been to “Go Digital.” As more media companies transform themselves into digital businesses, their technologies and the data running through them become the business. Which means that any security breach could have a more massive impact than it would on a company that is less reliant on its digital assets. Hence, for media companies, protecting both content and consumers is now a powerful imperative. Businesses in the media and entertainment industry must seek to prioritize and plan cybersecurity, protect their customers and assets, and undertake ongoing efforts to maintain that focus consistently.

Content is the king

No matter how much money is spent on advertising and promotions, at the end of the day, content is the king in the media and entertainment industry. Moreover, there is increasing competition in the sector to provide premium content and garner more customer attention. Furthermore, several players in the entertainment industry are investing heavily in original content and licensing. This is making content creation and acquisition increasingly challenging for traditional media companies.

Enhancing customer experience

The advent of technology has transformed the way consumers use and experience media. It has also raised the bar of customer expectations in the media and entertainment industry. To engage consumers in new and innovative experiences, media companies not only have to be highly creative but also provide a connected experience to the consumer through data and technology.

Gaining a foothold in the international market

Most companies in the entertainment industry are looking at opportunities to expand their operations and get the international audience hooked on to their content. However, economic nationalism and the prospect of higher trade barriers may impact global strategies. Media companies must also understand that each market requires a distinctive approach and formulate their strategies accordingly.

Adopting the latest technologies

In this technology-driven world, media companies need to embrace the latest technologies to prevent themselves from being deemed obsolete. Businesses in the media and entertainment industry must keep a constant watch on the most recent technological trends and evaluate its feasibility for their firm. Assessing various technologies for the company might prove to be a challenging task considering the capital investment and risk involved. As technology plays far more integral strategic and operating role, it can efficiently power everything from better procurement to more meaningful and actionable business intelligence in this sector.

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Related posts

Is Blockchain Technology All Set to Spark a Revolution in Media and Entertainment?

The blockchain technology marked its inception in FinTech, and its success has paved the way for this technology to find its way to several other industries. One of the most distinctive features of blockchain is that it enables a digital marketplace that is both decentralized yet tamper-resistant. Transactions are recorded in chronological order in a distributed ledger that is transparent to its participants, but encrypted so that nobody can undertake fraudulent practices and make unfair changes to the ledger. However, blockchain is not just all about digital currencies. In recent times, we have seen blockchain technology proving to be highly useful in the healthcare industry. The players in the media and entertainment industry are also trying to incorporate this technology into their proFree democesses. But what applications can blockchain have in media and entertainment you wonder?

Crowdfunding new creative ventures

Just like how a company raises capital through IPOs’ (Initial Public Offering), startups and creative production companies can crowdsource capital using cryptocurrencies known as ICO (Initial Coin Offering). The use of blockchain technology and cryptocurrencies for crowdsourcing is going to surge in 2018, especially in media and entertainment, but will be largely dependent on how the Securities and Exchange Commission (SEC) applies and imposes securities laws to ICOs. How can investors benefit from crowdsourcing using cryptocurrencies? A blockchain-based crowdfunding platform securely records funding transactions. These transactions are transparent to all investors, enabling them to know where they stand in the pecking order in real-time.

Fair payment for creative work

In the digital era, it is difficult for companies in media and entertainment to get a fair payment for their media due to the ease at which copies of the work can be made and distributed. This happens especially in the case of music streaming platforms.  With the help of a transparent blockchain technology based ledger, smart contracts can automate royalty payments based on a song’s consumption, including streaming. It would ensure that the right holder of music assets get the compensation that they deserve.

Platform for digital advertising

Though digital advertising platforms offer immense opportunities to target a wider audience and personalize the ads, a significant drawback is that the majority of the ad dollars could go to intermediaries. Recently, NYIAX deployed a blockchain technology-based ad exchange platform in partnership with Nasdaq. This platform allows publishers and advertisers to efficiently trade advertising contracts. NYIAX has a long-term vision to create a more financially rigorous model leveraging fin-tech best practices with advertising and media.

Avoiding piracy in distribution

One of the major setbacks of digital distribution in media and entertainment is the exposure to piracy. Several industry experts believe that with the help of blockchain technology, they can better compete with media pirates. This can be achieved by matching the legal user and the legally-purchased content so that the payment mechanism is transparent and it is easier to decipher any fraud or piracy of the content.

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Popular Entertainment Industry Trends to Tune into in 2018

Technology is one of the key entertainment industry trends for this year, opening up new opportunities, media trends, and creating new revenue models for the players in the media & entertainment industry. Click To Tweet

Technology is one of the key entertainment industry trends that has massively disrupted this sector, opening up new opportunities, media trends, and creating new revenue models for the players in the entertainment industry. The way people consume media and entertainment has drastically changed over the past decade. Gone are the days when the audience was forced to watch what the entertainment channels decided to broadcast. Thanks to the advent of such entertainment industry trends, today’s customers have the power to choose what they want on demand, anytime, and anywhere at their convenience. 

This trend is highly prevalent among millennials, who spend the majority of their time streaming videos online or downloading them rather than watching it on the television. Netflix and Amazon prime have typically become a mini-home theatre for the audience. Interestingly, technology isn’t the only factor that is driving the entertainment industry trends today, here are some of the other factors that are driving the growth and changes in the entertainment industry:

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