The latest trends and updates from MPTS 2024!

The team had an exciting and productive time at MPTS, connecting with our network, engaging with industry experts, and exploring the latest technological advancements. These interactions have allowed us to uncover the most impactful industry trends, from integrating artificial intelligence (AI) and workforce development to cutting-edge hardware solutions.

We delve into the significant shifts and challenges shaping the future of broadcasting, providing insights and updates within the industry.

Technological Integration and Scalability

There's a significant shift from traditional broadcast setups to IP transmission and cloud technologies. This evolution is marked by adopting SMPTE-2110 and Secure Reliable Transport (SRT), replacing outdated infrastructures like satellites and SDI. These technologies enable remote operations and more significant content management and distribution efficiency.

Hardware Innovations

Despite the rise of software and cloud solutions, hardware is still relevant in video processing. Discussions with industry clients reveal that hardware-based video processing units are still preferred for their affordability, better ESG profiles, and efficiency. These units can outperform software/cloud-based competitors and are often the only hardware selected, even in predominantly software-defined environments.

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Revenue Strategies and Industry Dynamics

Ad integration and revenue-sharing models are becoming increasingly sophisticated, allowing content creators to maximise revenues across diverse platforms and territories. The growth of platforms like YouTube, short clips, and user-generated content (UGC) is driving supply chain transformations. However, the industry faces challenges such as audience fragmentation, necessitating consolidation to maintain competitiveness. Notably, Amazon's response to the surge in AI-generated novels—capping publications to three per day per author—highlights the impact of AI on content proliferation.

Demand for High-Quality Live Streaming and Production

The demand for high-quality live streaming continues to grow, particularly within corporate settings. Advances in camera technology and portable broadcast solutions facilitate high-quality production with reduced crew requirements., aligning with the industry's push towards more efficient and cost-effective production methods.

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Skill Gaps and Workforce Development

The skills gap is a significant challenge, especially in specialised roles such as IP management, vision, and sound engineering. Innovative educational pathways, such as ITV's new academy and T-Level qualifications, are essential for preparing the next generation of professionals. The World Skills Cafe and ongoing initiatives like Skills Bootcamps across the UK are critical for addressing this gap.

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Data Management and Audience Engagement Challenges

Effective data management and enhancing fan engagement are crucial. The industry needs help with platform scalability and often needs help to keep up with the demand for personalised and contextualised advertising. Developing robust technological solutions that can handle large-scale data processing with low latency is critical, especially for live and interactive media platforms.

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AI in Broadcast

AI is not just a buzzword; it has a significant role in transforming our industry. AI is becoming a tool that significantly benefits workflows, time, and money. It's the adaptation that those businesses need help with how to approach. Ai is here to stay, and here are the benefits:

• Predictive Accuracy: Generative AI models currently achieve 80% accuracy, with predictions to reach 95% in 1-5 years and 99% in 5-10 years, indicating rapid advancements.
• Industry Impact: AI enhances workflows by enriching metadata, optimising indexing, and facilitating live virtual production. For example, Moments Labs worked with a US customer to index 180,000 hours of content, showcasing AI's efficiency.
• Ethical Considerations: Retrofitting ethics and governance to existing AI capabilities is a significant challenge. AI should enhance human creativity, not replace it. It should automate mundane tasks to allow human talent to focus on creative aspects.
• Collaborative AI Use: Platforms like Invoke.ai demonstrate how AI can augment the creative process, requiring human input to guide AI in understanding quality standards

Conclusion

As the broadcast industry navigates these transformative times, integrating new technologies, fostering workforce development, and adopting innovative hardware solutions cannot be overstated. Businesses can remain competitive by staying informed about these trends and proactively addressing challenges.

Caspian One delivers professional services that synergise technology, innovation, and human capabilities. Our offerings include resource augmentation, project delivery through managed outcomes, and specialist skills acquisition. Our team's adaptability and commitment to continuous learning ensure we stay ahead in the evolving Broadcast landscape.

Contact us to learn more about how our solutions can help you leverage industry advancements and optimise your operations, or find out more about how we have helped clients succeed here: caspianone.com/client-stories