Media and Entertainment

Harnessing data analytics for enhanced decision-making in media management

The media and entertainment industry is always on the cusp of another transition, be it the evolution of filming techniques, advancements in visual and special effects, or the explosive popularity of OTT platforms. Media analytics is set to transform the industry yet again, changing how media companies and content creators make decisions across the entertainment lifecycle.

Data across the entertainment lifecycle

Gone are the days when box office collections, DVD sales, and viewership numbers were the sole indicators of a movie or TV show’s popularity. Media companies no longer have to rely on the gut feelings and creative instincts of producers, directors, or writers to predict what will or will not work.

The media and entertainment industry today can rely on advanced data analytics capabilities to understand viewer preferences and produce content that will appeal to their target audience. Data analytics in media – drawing from social media interactions, customer and viewership data from streaming platforms, critics reviews, and more – plays a vital role in every stage of the entertainment lifecycle.

The pitch

The entertainment and media management lifecycle starts with “the pitch” or the script-purchasing phase. Big studios, like Walt Disney Studio, Universal, or Sony, use machine learning algorithms and predictive analytics to understand what the audience may like when looking at scripts to work on. Scriptwriters can also leverage various data analytics tools to understand what plot points made the past blockbusters shine and how these can help improve the in-progress script.

Production

The next phase is production, where predictive analytics guides decisions on which actors would attract the most audience or which plot elements, they need to emphasise on to engage the audience. Moreover, media analytics also play a vital role in production planning, leveraging the data from past productions to find the best locations and optimising filming schedules based on factors like weather conditions and available daylight hours.

Distribution and marketing

No piece of media can succeed without getting in front of the right audience, and this is where distribution and marketing come into play. Whether it is breaking down the target audience into micro-segments and designing tailored marketing strategies for them or understanding when and where to reach the audience, media analytics facilitates data-driven decision-making in media management.

Benefits of media analytics

Media analytics is a highly valuable tool in the media and entertainment landscape. Viewers today have thousands of options across hundreds of OTT and streaming platforms. Getting in front of the right audience is crucial, and data-driven decision-making in media management makes it possible by:

• Helping key decision-makers understand what the audience wants to watch and listen to. As a result, media companies can acquire and develop the content the audience will like, acquire new viewers, effectively monetise the content, and adjust strategy with evolving customer preferences.
• Understanding customer preferences and expectations to develop targeted marketing and ad strategies. This includes personalised content recommendations to put the relevant content in front of the right audience to increase customer engagement and retention.
• Optimising programming and scheduling to reach a wider audience and maximise viewership. Media analytics is a great way to track the changing popularity trends of different media content, helping media companies optimise their content recommendations and scheduling accordingly. This includes optimising broadcast times on TV, changing recommendation frequency on OTT and streaming platforms, and publishing content across different platforms – traditional cinema release, OTT-only release, or a combination of the two.

Although highly beneficial for modern media companies, leveraging data analytics in media can be a challenge without some key capabilities, including:

• Access to relevant data
• Ability to handle customer data without compromising security
• Managing unified customer identities across different devices and platforms
• Ability to handle and leverage different data formats at scale

Big movie studios and media companies may have these capabilities in-house. However, media and entertainment business process management services can help everyone in the media and entertainment industry leverage data to optimise decision-making in media management.

How can Infosys BPM help in media analytics?

Media analytics is reshaping how media companies can stand out from the sea of available content and reach the right audience. Media and entertainment business process management services are making it easier to navigate the storm of disruptions the media and entertainment industry is facing. Seamlessly integrating domain expertise with next-gen technologies, Infosys BPM makes it easier to create, distribute, and monetise content. Leverage advanced analytics tools to harness audience insights, tailor content offerings, and drive engagement through data-driven decision-making in media management.