The media and entertainment industry has undergone a significant transformation driven by the integration of deep learning and AI. Enterprises are harnessing generative AI for various applications, including newsroom editing, scriptwriting, marketing optimization, and regional market expansion through deepfake dubbed videos. There is a growing focus on immersive experiences powered by AR/VR/XR technologies to enhance customer engagement. Additionally, businesses are exploring revenue-generating opportunities through NFTs, offering merchandise and character toys on NFT marketplaces. To ensure operational efficiency and meet evolving consumer expectations, enterprises are modernizing legacy systems, prioritizing cybersecurity, and adopting remote production models, as well as leveraging cloud technology to reduce their environmental footprint. This comprehensive approach reflects the industry’s commitment to innovation and sustainability and delivering high-quality customer experience.
Both demand- and supply-side trends are covered in Avasant’s Media and Entertainment Digital Services 2024 Market Insights™ and Media and Entertainment Digital Services 2024 RadarView™, respectively. These reports present a comprehensive study of digital service providers in the media and entertainment industry, including top trends, analysis, and recommendations. The reports also take a close look at the leaders, innovators, disruptors, and challengers in this market.
We evaluated 34 service providers across three dimensions: practice maturity, investments and innovation, and partner ecosystem. Of the 34 providers, we recognized 20 that brought the most value to the market during the past 12 months.
The reports recognize service providers across four categories:
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- Leaders: Accenture, Capgemini, HCLTech, Infosys, TCS, and Wipro
- Innovators: Cognizant, IBM, LTIMindtree, and Tech Mahindra
- Disruptors: Birlasoft, EPAM, Genpact, Persistent Systems, and Tata Communications
- Challengers: Atos, CGI, HARMAN, UST, and Virtusa
The figure below from the full report illustrates these categories:
“Enterprises are pivoting their strategy of technology usage to optimize their business operation using generative AI to enhance revenue,” said Sahaj Kumar, associate research director at Avasant. “They are emphasizing enhancing brand engagement and a greener approach for content production, along with profit margin by exploring new revenue streams.”
The reports provide several findings, including the following:
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- Delivering enhanced business value by redefining the media supply chain using deep learning and AI
- Enhancing customer engagement through immersive experiences drives customer satisfaction
- Harnessing NFTs as a new frontier for overall business growth and expanding content offerings
- Surging content consumption demands IT modernization and robust cybersecurity measures
- Achieving a green media supply chain to comply with net-zero carbon emissions goals
“Service providers are bullish with their digital offerings to cater to media supply chain, bolstering seamless services for the end-users,” said Amar Verma, senior analyst at Avasant. “They are focusing on developing generative AI solutions and leveraging XR and robust cybersecurity measures to safeguard the extensive content library.”
The RadarView also features detailed profiles of 20 service providers, along with their solutions, offerings, and experience in assisting media and entertainment enterprises in their digital transformation journeys.
This Research Byte is a brief overview of the Avasant’s Media and Entertainment Digital Services 2024 Market Insights™ and Media and Entertainment Digital Services 2024 RadarView™. (click for pricing).