The latest research from the IABM reveals that macroeconomic headwinds are having a clear impact on MediaTech business models.
Speaking at the opening IBC2023 session on the state of MediaTech, ‘IABM – Key drivers of change in 2023 and beyond’, Lorenzo Zanni gave delegates a data-driven analysis of MediaTech investment patterns and said that it was the most important factor affecting MediaTech businesses today.
Zanni noted that macro headwinds may tilt the balance in favour of outsourcing for many MediaTech businesses.
Panellist Jade Kurain, President and Co-founder of Iatakoo, which provides end-to-end business solutions for broadcast, agreed that macro headwinds were important factors affecting her business: “Costs are all up - as we projected.”
“As a result, we are moving a little bit out of media – we recently won an award from the US Air Force for example,” she added. “What we are learning is that we can’t do things the same way anymore.”
Aditi Pandey, Head of Vendor Management and Partnerships at NRK, said that everybody is battling with macro headwinds. “We are not in a recession but there is a slowdown,” Pandey said. “The findings in the IABM report make sense for us; we are also seeing that the business models are changing.”
“We have seen a deceleration in cloud investment compared to the previous year,” added Zanni.
The IABM report also indicated that the Hollywood strike is set to impact MediaTech investment if it goes on into the autumn and beyond.
The report, based on exclusive research by IABM, shows that business confidence has increased since 2020, but it suffered a slight decrease in 2023 compared to 2022.
Cloud, virtualisation, OTT and streaming continue to be top priorities. Other key topics on the minds of MediaTech businesses include business slowdown, business growth, supply chain issues and streaming maturity.
In terms of other factors, analysis of research on training and support shows that a talent shortage is also affecting businesses. “61% of the businesses surveyed said it was more difficult to recruit talent because of this shortage,” Zanni noted.