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March 27, 2023
How cloud media services are assisting businesses in managing content operations across multiple platforms
he global entertainment and media industry is amid a remarkable resurgence after a dip in 2020. Sales are projected to grow by 23% to reach an impressive $2.6 trillion by 2023, and the driving force behind this revival is none other than cloud technology.
In today’s digital era, streaming services have become an integral part of our daily lives. Whether it’s accessing a Spotify album, streaming a Netflix movie, or watching YouTube videos, the shift to digital content consumption is unmistakable. Netflix, a prime player in this landscape, reached a significant milestone with 223 million paid customers in the third quarter of 2022, according to Statista.
The Cloud Media and Entertainment Content Management Market, as reported by Maximizemarketresearch.com, is poised to reach a substantial size of USD 26.28 billion by 2029, with a commendable CAGR of 10.56%. Leading media giants such as Comcast, Disney, Time Warner, YouTube, and Netflix are at the forefront of this transformation.
Netflix, for example, heavily relies on AWS cloud video streaming solutions for video processing, encoding, transcoding, recommendation engines, databases, and analytics. Notably, they have committed to investing over USD 100 crores in cloud computing and streaming services through 2023.
On the audio streaming front, Spotify stands as an exemplar of a cloud-based service. It enables users to stream music over the internet, create personalized playlists, and listen offline.
Industry leaders like Discovery and Walt Disney Television have also migrated their media supply chains to the cloud, allowing for autonomous resource provisioning and scalability. This shift covers various content delivery methods, from linear broadcast to video-on-demand.
Cloud technology’s core strength lies in its scalability and flexibility, addressing the intricate workflows involved in media streaming. It empowers media enterprises to efficiently manage, distribute, and safeguard digital content while providing a cost-effective solution for handling unpredictable demand spikes.
Cloud-based distribution offers real-time content modification, collaboration on a global scale, and instant data analytics. In cases of disruptions, the cloud ensures rapid recovery and continuous access to crucial data insights.
Each organization’s journey to the cloud is unique, shaped by its specific needs. To navigate this transformation effectively, forging a robust partnership with a reputable cloud services provider is essential.
The future of the entertainment and media industry is unequivocally linked to the cloud, and it’s reshaping the industry for the better.
CloudThat is a leading cloud training and cloud consulting organization in India. We are partnered with tech giants, Microsoft, AWS, Google, Vmware, Databricks, and many more to bring the organizations best in-class services. With a footprint spanning across 28 countries, we have firmly etched our presence as pioneers of cloud technology. At CloudThat, we boast an extensive portfolio, meticulously crafted to provide a comprehensive suite of services designed to empower businesses of every scale, helping them unlock the boundless capabilities of the cloud.