The Digital Transformation of Video

Consumption

Alongside the technological push, the digital transformation of video production and distribution is also fuelled by the rapidly growing video consumption by the public on multiple devices/screens via different channels.  The volume of video consumption has been growing at unprecedented speed.  In addition to traditional TVs and desktop computers, the proliferation of smartphones and tablet computers has freed people from the confinement of their homes and offices.  People are increasingly able to consume videos anywhere anytime, even using multiple screens concurrently.

Archiving and Collection Management

Video is the most data-intensive and difficult to manage digital asset.  As business use of video continues to grow rapidly both for marketing and operations, managing video assets effectively will become a complex task for a growing number of organisations.  This includes storage, indexing, creation of metadata for search, editing and reuse, all of which put significant pressure on the corporate IT infrastructure.  Fortunately, a growing range of software and third party services are available to suit the needs and circumstances of the organisation.

Implications

The implications of the digital transformation of video production, distribution, consumption and archiving go well beyond the emergence of new commercial opportunities and challenges for platform firms or advertisers.  In our increasingly networked world, technological advances in camera technology and accessibility, development of new infrastructure and platforms for distribution and editing, and the creation of new communities around video, are collectively transforming the way we experience products, services, arts and culture.  The lowering of technological, financial and skill barriers are empowering billions of people around the world to become video makers, consumers, critics and re-mixers.

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