"Cloud Broadcasting Services Are The Answer To Monetising Content In A Digital Ecosystem" – Paul Omoruyi, Seasoned Filmmaker And Producer
Mr Paul Omoruyi, responding to questions from Broadcast Media Africa (BMA), in preparation for the 4th Annual Digital Broadcast Media Convention taking place on the 27th – 28th August 2019 in Lagos, Nigeria, also added that content owners need to be flexible and introduce new shows quickly and affordably in response to the ever-changing viewer interests.
Below is an excerpt of the conversation Paul had with BMA on the forthcoming Forum where he is participating in a panel discussion session:
BMA: Why did you decide to get involved in this 4th edition of the Annual Digital Broadcast Media Convention?
Paul: I got interested because the session that I have been invited to participate in is a topic of interest that every media industry person would want to be involved in. First of all, as a filmmaker, I always think of diverse ways in which I can monetise my movies, and I believe that participating in this event will help a great deal as it is a place to learn and network. It will definitely be worth my while because I am bringing my wealth of experience to the table, and there is a lot to take home from the other panellists and speakers attending.
BMA: In your opinion, what innovative methods could broadcasters and new media platforms use to successfully monetise content in the digital ecosystem?
Paul: In my opinion, virtualisation and an insight-driven approach together are the future of monetisation in broadcasting.
Exploring new ways of monetising content isn't without risk, however, and as a result, many broadcasters are demanding flexible commercial models that allow them to instantly adapt to market changes in order to pursue new avenues in a 'test-bed' environment.
Content owners need the flexibility to introduce new content quickly and affordably in response to the changing viewer interests, whenever and wherever required, and then also have the scalability to pull the content down to match demand when those interests shift.
The traditional hardware-based TV production model isn't set up to deliver this kind of flexibility; hence, many broadcasters are looking at the potential benefits of virtualised cloud services as an alternative to achieving success.
Virtualisation in broadcasting takes content storage and distribution into the cloud, meaning broadcasters don't need to purchase expensive hardware in order to add a new process or playout stream to their operations.
As virtualisation models continue to develop, content owners will be able to quickly launch new channels and VOD offerings, test new technologies and reach all-important new audiences.
The potential of virtualisation will start to be truly realised by broadcasters shortly and probably this year
Another method is the Insight-Driven approach. There's no doubt this year will see both successes and struggles as the broadcast industry gets to grips with these trends and seeks to capitalise on content via multiple monetisation strategies.
The good news in this regard, however, is that they're not on their own; tools for analysing and reacting to the market are becoming much more accessible, and there is now more information than ever to help broadcasters to build the necessary in-depth understanding of their audiences.
In today's data-driven TV market, we know what's switching subscribers on, what's turning them off, when they watch, what they're watching, and the devices they're using to do it. And we know all of this in real-time.
Such insights offer exciting opportunities to tailor services, packages and content to the specific tastes and expectations of audiences and individuals.
BMA: Could you please tell us what you hope fellow participants will take away from this industry event?
Paul: By the end of this event, I expect that there will be a lot of networking among participants, and I believe they would have been more equipped than they came. I look forward to seeing how the industry harnesses this data obtained at the convention over the months following the event.
About Paul Omoruyi: Paul Omoruyi is an Award-winning Director and Producer. He made his first feature film in 2012 titled Love is not enough. Some of his latest productions include Men in Trouble and Truncated.
He will be speaking at the 4th Annual Digital Broadcast Media Convention in his capacity as the Founder of PSI Film & Creative Academy.