At StartUs Insights, we cover the cutting edge of startup-driven innovation in the media industry. This in-depth research is backed by our proprietary data-driven innovation scouting approach in which we analyzed more than 30.000 startups and identified key innovation areas for the industry.
The Media Innovation Map includes six emerging technologies and the startups driving them. Media companies seeking to innovate in these disruptive surroundings need to pay close attention to these areas – so let’s see what’s next:
Generating a higher probability of converting individuals into consumers, delivering the right content at the right time has a significant impact on the effectiveness of content. According to Forrester, 67% of European- and US-based marketing executives already make use of behavior-based user data to generate content and increase revenue. Personalized content is one of the most promising innovation areas in the media industry.
Automatic Content Recognition (ACR)
ACR enables companies to determine the content that is stored or played on a device, delivering essential insights from image or video content. Automatic content recognition advances to a new generation of hard- and software, anticipated to strengthen the use of the Second Screen. Immersive interactivity, real-time TV commerce, and syncing tablets with a TV will be the some of the opportunities resulting from this emerging technology.
The blend of augmented and virtual reality establishes mixed reality or hybrid reality, which functions through scanning a user’s surroundings subsequently constructing a 3D map to locate an individual before optimally placing digital content according to the information detected. Involving users in this way sets new frontiers within the media industry, with 360° videos acting as the first step toward this progress.
Natural Language Generation (NLG)
A subfield of natural language processing, NLG deals with the translation of data into natural, human language. Drawing on artificial intelligence (AI), natural language generation is already used to create weather and simple sports reports as well as to assist journalists in more demanding tasks. NLG is a powerful technology, predicted to “win a Pulitzer one day”.
Already popular on social platforms, live streaming is not a new phenomenon in the media sphere. Nonetheless, live streaming will dominate the media landscape due to its interactive nature and high entertainment factor.
Programmatic advertising refers to the automatization of buying and selling ad inventory, building a bridge between advertisers and publishers. This technology equips media companies to target the right audience at the right time. At the same time, analyzing user behavior becomes simpler with the support of AI making it possible to target users with ads optimized in real-time.
Disruptive Startups In The Media Industry Include:
- Madrid-based Narrativa develops the NLG solution GabrieleAI, capable of enriching context in order to provide a point of view.
- Israeli startup Jinni creates the Entertainment Genome, qualified to understand each individual’s unique entertainment taste, thereby providing the perfect match between individuals’ preferences and content titles.
- Dutch startup Beatgrid Media offers three distinct ACR solutions to help broadcasters raise awareness, to provide a real-time overview of TV and radio spots and to allow the audience to identify and engage with their favorite shows.
- Vienna-based Stereosense brings 360° VR video to media content by creating 360° video and image libraries, allowing users to stream or download the videos on-demand.
- Live streaming service Twitch reached a staggering 45 million unique users within its first two years by providing users with content related to video gaming, creative content and music broadcasts (live stream and on-demand).
- PulsePoint pioneers programmatic advertising to automate buying and selling decisions across a global platform and includes programmatic video, programmatic mobile, and ad exchange.
50% of all spending in media will be dedicated to digital affairs by 2019, a clear indicator that digitalization is the single most important innovation area actively shaping the media industry. Collaborating and co-developing new solutions together with cutting-edge startups puts established media companies at a competitive advantage.