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DIGITAL TRANSFORMATION IN MEDIA

The world has changed drastically due to technology, which is still advancing quickly. The media have been increasingly going digital in recent years. To keep up with the new digital revolution, they must adapt. Digital transformation has become the norm for many industries, from growing an online audience to consistently improving and updating content. For a sector that has traditionally been analog, this is a huge move. As a result, media companies have more chances than before.

Traditional media's digital transformation is changing how we consume and experience content.

What is digital transformation in media?

Digital transformation refers to the fundamental change from a social, mobile, cloud-powered environment to how we live, work, and relate to one another. Media companies are under pressure as consumers focus on digital channels, and ad spending follows suit. In response, media companies are using digital transformation to reduce expenses, boost earnings, and enhance client engagement.

Various sorts of digital transformation are possible. Its fundamental goal is to use technology to generate new value for clients, staff members, and shareholders. This could entail developing novel client experiences or discovering novel methods to monetize content for media firms. It can also entail creating new internal capabilities to boost productivity or open new revenue streams.

Factors driving digital transformation in the media industry

The media sector is undergoing a digital revolution due to the developments listed below as businesses struggle to keep up with the shifting demands of their clients.

  • Demographics
    As the global middle class grows, so will the demand for new media services.
    1. The need for new media services will increase along with the expansion of the world middle class.
    2. Millennials, who want technology that provides ease, meaningful experiences, and immediate access to material, will make new expectations.
    3. The world's aging population increases demand for services geared at older adults' health and wellness, entertainment, and education.
    4. Demand for media products created with people's commutes and hectic work life in mind is encouraged by urbanization.
  • New consumer behaviors and expectations
    New consumer behaviors and expectations have emerged along with the increased use of digital media.
    1. Younger generations are eager to absorb content from around the world and are more trained to recognize marketing or PR spin that passes for actual content.
    2. Consumers' expectations have changed due to the emergence of amateur content creators, who now value having content selected for them.
    3. Consumers are becoming increasingly conscious of the digitization of their daily lives that allows third parties to make money from it.
  • Ecosystem challenges
    The emergence of startups that are upending the status quo of media. These businesses frequently provide cutting-edge, brand-new goods and services that appeal to customers getting used to quick access to content from anywhere in the world.
    Conversely, a new generation of media consumers who anticipate accessing material from any location at any time is challenging the legal frameworks governing intellectual property.
  • Technology trends
    Consumer connectivity is constantly growing, which has given media companies a chance to foster ongoing interactions. Businesses must be ready to deliver what customers want when they want it because technology now makes it possible to access the material anywhere, at any time.
    Furthermore, the expanding availability of open-source and free software has enabled companies to launch their products fast and with unique features. Businesses must be flexible and always prepared to adapt to the most recent technological advancements to keep up with current trends.

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The benefits of digital transformation for media companies

  • Reservations in real-time
    Gone are the days of sending multiple emails and making multiple phone calls to reserve ad space for a campaign. With live booking calendars to view and buy ad space, digital transformation has made it easier for advertisers to book ad space in real-time. This has reduced the likelihood of media agencies double-booking ad space, as well as the likelihood of advertisers missing out on great advertising opportunities.
  • Collaboration
    To get the best results from their campaigns, brands want to be able to collaborate with communication companies. Brands are interested in working with companies that use selfservice platforms and digital technologies. Media companies that have eliminated manual processes and are easy to contact to get a campaign up and running without delay are the companies that brands are interested in working with.
  • Personalization
    Through programmatic advertising, brands can offer tailored content to their target audience based on their profile. Thanks to programmatic advertising and the digital transformation of media companies, they can deliver the right content to the right people at the right time. This improves the audience experience and targets the people most likely to be interested in and convert the offer.
  • Automation replaces manual tasks
    Workflows can be automated. Automated workflows have replaced manual tasks due to digital transformation. Instead of manually collecting data from advertisers at their request or processing orders and invoices, media companies can use the time they save to help their advertisers optimize campaigns and build relationships with them. This results in a more efficient process for media companies, allowing them to spend more time satisfying their customers.
  • Access to data and analysis in real-time
    Real-time data and analytics are more within reach of companies thanks to digital transformation. As media companies migrated online, they were able to collect data about advertisers' campaigns and compile it all in one place, enabling advertisers to make better decisions about their ads.
    This means that advertisers can spend their advertising dollars wisely and continue to optimize their campaigns instead of wasting their budget on ineffective campaigns.
  • Omnichannel advertising
    Thanks to digital transformation, advertisers can target the exact audience across multiple media platforms. Advertisers should be aware that in today's digital world, customers engage on multiple platforms throughout the day, not just one. People consume media in various ways, and advertisers need to be on all of these platforms to succeed.

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Conclusion

For media companies that have yet to jump on the digital transformation bandwagon, the time has come to do so. Digital evolution in the media sector is inevitable, and why you should want to do it.

New technologies for targeting people online make it easier to reach your target audience and collect data to optimize campaigns to increase traffic and engagement. It will be interesting to see where the digital shift takes the media industry, but one thing is for sure: there will be no going back to the old mainstream media practices.

The media and publishing industry is undergoing significant changes due to the rise of omnichannel media consumption, shifting consumer behavior, and growing demand for personalized experiences. We assist in identifying key areas in the media and publishing value chain and work together to develop a technology solution plan that delivers tailored content, improves processes, and streamlines operations. Our team of experts serve various reworking business models and creating new delivery and experience platforms to stay ahead of the competition.

What we do

We work with clients across hundreds of use cases to create technology solutions that enable the 5 nodes of Industry 4.0.

Maximize Your Media Potential

Unlock the power of data and AI/ML to gain valuable insights and improve customer engagement with our analytics solutions, including sentiment analysis, predictive analysis, personalized content, and more.

Streamline Your Media Operations

Become more agile and adaptable in the face of competition with our cloud-based media services. Optimize your value chain, improve editing and distribution, and scale globally.

Create Your Own Streaming Platform

Create your own streaming service, acquire an existing platform, or collaborate with a partner to tap into the growing market. Leverage our expertise in streaming servers, cloud editing, transcoding, DRM, live-to-VOD recording, ad insertion, CDN interconnect, and syndication.

Transform Your Digital Strategy

We understand that every brand has unique ways of engaging with customers. Our expertise in platforms like CMS, DAM, CRM, subscriptions, and eCommerce can help you utilize tools efficiently and increase reuse, saving costs. Collaborate with us to create a seamless platform that caters to your specific strategies.

Design Engaging Touchpoints

Digital touchpoints such as web, mobile, app, e-reader, video, audio, notifications, chats, social media, games, and voice assistants can be powerful tools. Our experience in web, mobile, gaming and social media can help you create high-quality and reliable digital products, engaging multi-channel user experiences, and smart solutions. Our agile and rapid prototyping approach allows you to conduct controlled trials and evaluate results.

Business Information Services (BIS)

Integrating legacy channels into data-driven digital platforms can be challenging. Leverage our technology expertise, business knowledge, innovative problem-solving techniques, and sophisticated products to help organizations effectively integrate multiple datasets and monetize data through global channels. Learn more.

We offer UX/UI Design Services. Our team of designers creates user-centered designs to enhance user experience and drive engagement. From website and mobile apps to software interfaces, we bring your digital products to life with intuitive and aesthetically pleasing designs. Our services include,

Loyalty Transformation - Emotional and Intelligent Engagement

By tapping the right signals from sales, experience, and marketing channels, we help you unlock the untapped potential of loyalty transformation. Our digital solutions team works with multiple SaaS, PaaS, and cloud solution providers to help you ideate, design, plan, and execute new loyalty solutions driven by a proven loyalty-transformation framework. Rejolut's team of experienced designers, data engineers, integration specialists, and loyalty functional SMEs can help expedite your transformation journey by building loyalty.

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