The rapid evolution of technology has transformed the dynamics of the media and entertainment (M&E) industry. Growth in over-the-top (OTT) and video on demand (VoD) subscriptions and viewership during the pandemic have created both an opportunity and a threat to the sector. Gaming and sports are capitalizing on the increased demand for more realistic experiences. Advertisers have more platforms and audiences to reach to, and more people across geographies have access to the internet and smartphones. However, this evolution is not only about positive change. On the other end of the spectrum, the threat of fraud and other criminal behavior have added to existing concerns for the industry. M&E has a need for trust and safety (T&S) just like any other industry. Governments, associations, media companies, and technology/advisory service providers, jointly, are focusing on building customer trust by adopting regulations and governance frameworks.
Enterprises are focusing on increasing customer trust more than ever. M&E companies should create a safe environment for users that is also set up to monetize the shift in media consumption trends. To stay relevant and survive in the market, M&E companies need to stay ahead of the game by forging strategic relationships with T&S service providers.
Service providers, on the other hand, are well equipped with technology and best practices to help the industry tackle issues collectively. From accessing a platform to creating an account, uploading user-generated content (UGC), and sharing data, service providers are extending their services to minimize risks, maintain brand image, and safeguard users’ interest and identity.
The T&S market is growing in parallel to the M&E industry. The ever-changing regulatory landscape needs close monitoring to capitalize the trend in the market. Application and implementation of AI, cloud, blockchain, analytics, and other disruptive technologies will hep the industry and service providers to make the most of the digital shift.
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