Companies that manage the production, ingest, post-production and transfer of media and data to broadcasters and online video platforms are set to see their market hit £400 million by 2018 as popularity continues to mushroom.
Ovum, the global market analysis and consulting, which brands those companies as Media Logistics Platforms [MLP], thinks that cloud and file-based workflows hitting the mainstream will help it to grow four-fold from £100 million in 2013 to £400 million in 2018.
“Any premium media company who wants to continue to grow will need to get these services right. The core driver for growth will be the growth of multi-screen media end markets, the growing complexity of media management and the increasing maturity of technology and platform strategy at media companies,” said Adrian Drury, consulting director and practice leader for IT, media and telecoms at Ovum.
MLPs are increasingly being taken advantage of by traditional media outlets that have been struggling in the face of competition from the likes of Google, Apple, Netflix, Amazon, Apple and Spotify. It has allowed them to create a multi-screen service that consumers have embraced and the growth presents logistical problems that MLPs are only too happy to help solve.
“Just as the OVP market has seen rapid growth and an accelerated journey to maturity, so the MLP market is now set for growth as premium media companies look to solve the media management and logistic challenges that are today acting as an impediment to growth,” Drury added.
Ovum went on to explain that brands themselves are increasingly becoming their own studios and content service providers, and they also need platforms that can help to manage their trawl of media and related content, which is another area that MLPs can be of help.
The research, which covered the core markets of Europe, North America, APAC, South America, and Middle East and Africa, was completed in conjunction with Nativ and forms part of a white paper entitled “A market whose time has come: the Media Logistics Platform.”