Business models are evolving and consolidation remains at the top of the market, says Magine Pro CEO Matthew Wilkinson.
Has IBC come at a good time for the electronic media industry? Why is this?
IBC comes at a time when we see consolidation at the top of the video streaming market with two new global entrants launching this year: Apple TV and Disney. And although it’s a competitive market, IBC is capable of supporting an ecosystem that helps smaller suppliers and buyers push for further collaboration and innovation to create real market-capture opportunities.
The current rate of change in the electronic media industry continues to accelerate. We regularly see new business models evolve, technology progress that lowers the barrier to entry into the market, innovative new product launches, and media and technology industries continue to converge. IBC creates a focus for the industry that highlights the innovation, opportunities and challenges in the industry.
What do you think are the key developments in, or threats to, your market sector at the current time?
With consolidation at the top of the market (Netflix, HBO, Apple TV, Disney), and endless production of new content flooding the market, we continue to see growth in the viewing time and spend from consumers [with an increase in the] number of simultaneous subscriptions. However, there will be a point of saturation where the market reaches ‘peak share of viewing time/share of wallet’ as consumers only have so much time and cash to spend on viewing video content. The market needs to address this with new offerings that are niche, differential and which provide viewers with some other value proposition. Don’t copy the business model – define your own.
Why should delegates visit your stand at IBC?
Magine Pro has deep experience in OTT consumer services, having previously operated several direct-to-consumer businesses. Magine Pro now focuses solely on providing a fully-managed end-to-end OTT platform, spanning client applications, monetisation, CRM, CMS and media management for VOD, linear/broadcast and live events.
Whilst Magine Pro takes care of the technology and operations, you can focus on your consumers and content.
Come and meet our consumer and technology experts, who can give you insights on what it takes to successfully plan, launch and operate an OTT service.
Matthew Wilkinson is CEO at Magine Pro