It’s difficult to keep up with the change happening on so many fronts across the media industry today. Signiant’s CEO Margaret Craig — with her unique mix of business leadership, product expertise and decades of experience working with top companies in media and broadcasting — has a perspective on the landscape that many of us operating in the weeds of our day-to-day responsibilities rarely get to see.
Given Craig’s vantage point, The Record, a Microsoft-supported technology publication, recently invited her to provide insight on changes and challenges the media industry is facing, and what the future will likely hold. The following is an excerpt from the interview:
Margaret Craig: Content can now be consumed on any device, at any time, and that is profoundly changing the way the industry operates. From a content perspective, this means that new entrants and legacy media companies must compete for consumer attention by producing lots of content that is compelling and original, and making it ever more granular and targeted. They must also ensure that the technical underpinnings of their businesses can deliver all of these media assets seamlessly, on demand, anywhere in the world.
Margaret Craig: The challenges are very broad-reaching. Business models and partner ecosystems need to evolve, and technical infrastructure must become much more agile and distributed. But alongside this imperative for change, some unique things about the industry remain the same: video files contain a massive amount of data, the creative process must be honored, and the industry always operates under tight timelines. In a nutshell, a lot more content is being created and delivered to a lot more places—and everything must still happen with speed and accuracy. That’s a very tall order.
Margaret Craig: Consumer preferences and the competitive environment will continue to evolve, and there are also technical changes going on behind the scenes. New higher-resolution formats such as HDR, 4K, and 8K are making file sizes ever larger, and those factors continue to put pressure on technical infrastructure. Workflows are continually being revisited as creative processes move to the cloud. The pace of change across the industry will continue to be very high.
High speed file transfer is essential for keeping page with changes in the media industry, both the increasing number of file types that need to be created to accommodate multi-device delivery and growing file sizes from 4K and 8k resolutions.