This past Sunday, Hollywood celebrated the achievements of film with the 89th annual edition of the Oscars. What was once a small gathering in the Hollywood Roosevelt Hotel has now become a global extravaganza of glitz, glamour, and inspiration.
While the Academy celebrated the latest achievements at the movies, they must also look forward. While prior years meant that moviegoers would flock to theaters after the awards to view films they may otherwise have missed, enthusiasts today can simply open Netflix, Crackle, Amazon Prime, or any of the many video streaming applications and never have to leave their couch.
The Future of Video and AI
Our appetites for video have increased significantly with the arrival of YouTube and now Facebook videos. According to research firm MarketsandMarkets, the streaming video market is expected to be worth $70 billion dollars by 2021, and that may not even consider the precipitous rise of everyday individuals into becoming their own stars. It goes without saying that not only is the future a potentially lucrative one, but also filled with noise as content developers do what they can to rise above the clutter.
For the consumer, this is video’s golden age where there are numerous options every day and night to watch an up and coming actor, become immersed in an alternate universe, or see historical fiction play out in seemingly surprising outcomes. With the paradox of choice also comes the challenge for content developers: How do we keep our customers hooked?
One popular way is artificial intelligence and machine learning through platforms like IBM Watson – and we already see a version of this with our favorite platforms sharing (albeit sometimes odd) recommendations for what they feel like the customer will like. With deeper AI capabilities on the way, there is anticipation that deeper consumer interests can be extracted including genre, drop off time, as well as advertising opportunities. These influences will also inspire content providers also look to create communities and applications specifically for their media, further extending the customer experience.
Perhaps enough to make us wonder if Watson should host a future Academy Awards presentation. We can dream, right?
Let’s Talk
Are you a media-driven organization looking to take your video and machine learning needs to the next level? Get in touch with us at sales@perficient.com for a conversation today.
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