ARMONK, N.Y. & AMSTERDAM—Digital video from sources like Netflix and YouTube are directly competing with traditional broadcasting services, but what do consumers think of the new viewing opportunities? Also, what impact could cognitive computing have on the broadcasting industry? These were two of the main questions that IBC and IBM attempted to answer with the “Creating a ‘Living’ Media Partner for Your Consumers: A Cognitive Future for Media and Entertainment” study, released at IBC 2017.
The first part of the study was a survey conducted with 21,000 consumers from 42 countries about their video consumption habits. The results showed that 51 percent of those surveyed—67 percent in emerging markets—access free, over-the-internet video; 48 percent access video through regular subscription services from traditional pay-TV providers.
Watching content on mobile devices is also becoming more popular, as 55 percent of respondents said they watch streaming videos every day on mobile devices; about a quarter use mobile broadband instead of Wi-Fi for one or two hours. However, respondents said the experience could be improved; 65 percent say they experience buffering problems very often or regularly, while 62 percent have long waiting times for a video to start.
One of the possible solutions the industry is considering to help improve these experiences is cognitive technology. Using cognitive technology could interpret data that would reportedly yield audience, content and contextual insights. Ninety-two percent of the 500 surveyed media and entertainment executives believe cognitive technology will be an important part of the future of the industry.
As a result, IBC and IBM recommend organizations do three things: apply cognitive technology to achieve personalization; revamping infrastructure to meet the coming demands; and reengineering business models to profit from the new media landscape.
IBM will be offering these findings at its booth, 15.MS13, throughout IBC 2017.