Pay TV industry, being subscription-based television service, usually serves the population via analogue & digital cable, satellite television, and by adapting the Internet world through digital terrestrial and internet television. While it is still showing growth in developing markets like Brazil, India, and China, Pay TV is facing stiff competition in the matured region like USA, United Kingdom, France, and Canada from streaming service providers.
Pay TV with technological advancements like Artificial Intelligence, Blockchain, and bitcoin can still do better and today we will discuss how and why it is important to pay TV industry.
How and What Can Blockchain Deliver to the Media Industry
The blockchain is the peer-to-peer decentralized network that is disturbing the natural flow of its existing market. In addition, with innovation like viuly.com, it is already experiencing change and now both user and content producer is paid for producing and using the delivered content. What can be done with help of blockchain in media Industry:
Royalties: Media today face the huge challenge of copyright and piracy, but blockchain can solve it by using limited peer-to-peer decentralised delivery and royal user program for content composition.
Raising fund through ICO for Creative production: With ICO, Projects can crowdfund before starting actual delivery or production. Blockchain platform can record the funding transaction to all other investors in a transparent ledger that is public. It makes easy for them to know their real-time value. After the delivery of the sale, licensing or usage of the creative asset, the smart contract will act automatically and distribute the payments to both right holders and investors.
Advisement: Digital or TV media now have targeted distribution of ads delivery, according to Forbes. Today 40% – 70% of advertisement money goes to the intermediary. Therefore, blockchain can solve it by its ability to serve peer to peer and know who is using what. It serves to better target advertisement, saving both user and advertisement. Also, with increasing privacy cases and EU new laws making it harder for the agency to cope, integrating it with the system will help protect private data.
Artificial intelligence Usage in Pay TV Industry
Artificial intelligence broadly called AI is a term referred to the computing power of the machine to learn to solve problems and perform the task on its own with its neural network and human-like cognitive process. AI is now being integrated by tech companies like Google, Amazon and Appl. Use of AI in Pay TV industry will revolutionise how we watch TV today.
Pay TV can incorporate Artificial intelligence to give more intuitive management of digital experience to viewers:
Set-Top Boxes with AI Home Assistants: With set-top boxes like Amazon fire TV where it is a mix of streaming and cable TV and personal assistance at service to help with content selection via voice control, weather forecast, IoT for controlling, scheduling of task is some of the early adoptions in the Pay TV industry.
AI Powered Video Compression:
As the Pay TV is shifting to cable-less set-top boxes and using the internet as a medium to deliver content, it is now important than ever to use AI-powered video compression technology for delivery. Artificial intelligence uses its huge feed data to come up with what’s better than before and provide video without perceptible loss in quality at lower speed.
AI-enhanced programmatic TV Ad Buys:
This new version of displaying programmatic ads allows advertisers to save the lot by displaying that have been used in online video ad COMs, which allows them to show ads to right people at right time, yielding high output for the amount spent. AI is increasing efficiency by learning what went successful and using the same in an intuitive way to reach out to viewers without wasted views. AI-powered algorithms use feedback to understand Pay TV audiences and serve them better with programmatic TV.
How the Pay TV Industry Can Flourish With Blockchain Industry
Pay TV industry has huge potential with help of blockchain and Artificial intelligence. With the right tool, it can increase its delivery and retain customers from going to an alternative medium.
As discussed, some important integrations that will make Pay TV to flourish. With the wide acceptance of bitcoin and other coins and emerging idea in media industry on how to implement blockchain technology. It is good for Pay TV to use them and grow.
Pay TV Industry can use them to make the customer more loyal and increase user experience with it. Next Generation TV and VOD Recommendation through AI and decentralised mode of payment and content consumption will save Pay TV companies money.
AI knows what to recommend next based on user personal watching behaviour which will remain private but only viable through AI is what is next in Pay TV and over it getting paid for viewing will attract new and existing customers to retain with Pay TV companies.
Pay TV Industry will be best with Blockchain Industry and AI for its content delivery.
Author: Sridhar Venkata
Director Sales & Marketing at ITP Software India.
ITP offers solutions to Pay TV, Broadcasting & ISP domains. ITP has earned the distinction of offering the most credible products that help a client enhance and manage operational efficiencies, increase and sustain customer loyalty and ramp up operations.
