When it comes to winning the content monetization game, Sports Rights-Holders across the board are tapping into the power of AI to further monetize their audiovisual content.
With the demand for audiovisual content steadily increasing year over year, along with video consumption rising 100% each year, many rights-holders, including sports entities are becoming more aware of the power of their fresh and archived video content. That, along with its potential resale value to media buyers, with media purchasing easily one of production teams’ highest expenditures.
With the Sports Industry taking a recent and major hit due to covid, many Sports Rights-Holders stabilized revenue by alternative methods. One such means was tapping into and further valorizing their archives.
So, the big question here is:
What’s the next-gen solution for Sports Rights-Holders when it comes to media purchasing to generate new revenue streams?
First, it’s important to understand that media purchasing has become extremely complex in recent years. This is due to the fact that many companies require large-scale media buys and advanced tools for making the best and most accurate selections (i.e. specific video content or images, which is many times difficult to search for), plus monitoring which assets are being considered, with enhanced verification processes.
It goes without saying that Sports Rights-Holders have a huge opportunity to provide an innovative and intuitive solution to showcase and sell their fresh and archived audiovisual content.
Here are 4 points that a Sport Rights-Holder should consider when looking into advanced and large-scale content resale, with associated revenue streams:
1) Question current content resale strategy: is it set up for optimal ROI? How are you currently showcasing and selling your audiovisual heritage content? Are media buyers able to find exact clips that they want in seconds, or does it usually take days, or even weeks? Most of the time, due to limited search capabilities and archaic MAM indexing, the answer is sadly…too long. And when it’s difficult to find assets, this leaves huge untapped potential for content resale.
2) Get in touch with your current buyers. Start asking some of your most loyal media buyers how you could improve their purchasing experience. Most of the time they are already working with multiple sources, and so they probably have a few ideas for areas of improvement. For example, perhaps there are several parts of your current resale strategy that could be automated, perhaps your current browsing system is not yielding the results buyers want...maybe a MAM makeover is well-overdue.
3) Index everything automatically. To be sold, your content first needs to be found... quickly, accurately and intuitively. With advanced index & search capabilities powered by AI, you can organize and store your content smarter, in a collaborative environment. AI is key, as it becomes your true ROI, eliminating manual human indexing that is extremely time consuming and many times inaccurate. So what does AI look like when applied to auto-indexed content? Multimodal AI processes audiovisual content like Big Data. Via a cross-referencing structure, AI can detect multiple entities in near real-time, pulling metadata from various sources. In turn, this provides an easy and accurate search experience for multi-faceted assets (i.e. cross analysis of face, object, speech and context detection).
4) Deliver a top-notch Media Showcase and Search Experience for your media buyers. Take it one step further! If you want your content to be sold multiple times and on a larger scale, it needs to be showcased, which means you need to create easily searchable asset collections for your media buyers. Ideally, this is a pre-existing feature integrated into your media valorization platform. This should provide a familiar media purchasing experience for your customers- allowing them to search for assets (using AI to cross analyze multifacets such as face, object and speech detection), ask for quotes, download previews and/or purchase directly. This next-gen experience means that users should be able to find audiovisual content in seconds, those ‘needle in a haystack moments’ whether it’s in an audio file, photo or video clip.
The ideal showcase platform should allow you to easily upload, store and search through all of your content in the cloud, automatically build media collections, work with your live content, files and rushes along with archived content, with advanced workflows. It should also have a showcase content monetization component.
As a next-gen media valorization platform powered by AI, Newsbridge recently introduced its latest feature: Content Monetization. This new offering is a next-gen media showcase and purchasing solution which allows rights-holders to turn minutes of video footage into thousands in revenue via a Clip & Collect experience for media buyers.
Using the Newsbridge platform, rights-holders can provide buyers with an unprecedented search experience, allowing users to browse through thousands of media assets using Newsbridge’s signature semantic search bar powered by Multimodal AI.
Newsbridge is a cloud media hub platform for live & archived content.
Powered by Multimodal Indexing AI and a data driven indexing approach, Newsbridge provides unprecedented access to content by automatically detecting faces, objects, logos, written texts, audio transcripts and semantic context.
Whether it be for managing and accessing live recordings, clipping highlights, future friendly archiving, content retrieval or content showcasing and monetization - the solution allows for smart & efficient media asset management.
Today our platform is used by worldwide TV Channels, Press Agencies, Sports Rights Holders, Production Houses, Journalists, Editors and Archivists to boost their production workflow and media ROI.