A new whitepaper developed in partnership with FPT Software explains how streaming companies can use artificial intelligence (AI) and machine learning (ML) to drive engagement and monetization
DALLAS, November 18, 2022 /PRNewswire/ — Recent consumer research from Parks Associates reveals that 83% of US Internet households now subscribe to at least one OTT service, while 45% still subscribe to the traditional linear pay-TV service model. The firm’s new white paper, Engaging Next-Gen Video Viewers: Leveraging AI and MLdeveloped in partnership with FPT Software, discusses the increased use of video services, content preferences, discovery challenges and the role of bundles.
“The most successful video services of the future will be dominated by innovative technologies, including AI and ML, that drive high and sustained levels of engagement with consumers through advanced content moderation and curation. “, said Sarah Leeresearch analyst, Parks Associates.
AI and ML can create a personal experience by leveraging data to understand patterns and relationships at a very granular level, beyond the recommendations that “standard” big data-based systems provide.
“There is a huge range of use cases for AI and ML in media and entertainment – companies are just beginning to scratch the surface. These can range from generating richer metadata that can be used to drive experiences to reducing the time it takes to prepare content to deepen ad engagement,” said Ira Dworkin, Managing Director of Communications, Media and Entertainment, FPT Software. “Leveraging and extending data that already exists for many M&E firms to create bespoke AI/ML models can help generate new insights, thereby reducing churn and improving customer loyalty. subscribers.”
Parks Associates research reveals that 30% of US Internet households are “service buyers” or streaming video subscribers who change services frequently and resubscribe multiple times. Companies that leverage AI can develop more effective and efficient strategies to prevent these viewers from “skipping”.
“By understanding the viewer on a deeper personal level, companies can deliver a more positive, individualized experience that drives acquisition, satisfaction, and retention,” Lee said. “AI and ML models can provide that understanding and identify the factors that drive increased customer acquisition and long-term subscriptions.”
To request data or an interview, please contact Rosey Sera at [email protected]972.996.0233.
About Associated Parks
Parks Associates, an internationally recognized market research and consulting firm owned and led by a woman, specializes in emerging technology solutions for the consumer and small and medium enterprise (SME) markets. Turns 35e year in 2021, Parks Associates is a partner to companies navigating the changing landscapes of consumer technologies through data-driven market insights, in-depth consumer and industry insights, personalized marketing services and executive networking experiences and conferences.
The company’s expertise includes home automation, control systems and security, digital media and platforms, entertainment and games, home networks, Internet and video services, connected health and independent living solutions , mobile applications and services, support services, consumer electronics and energy management. solutions. http://www.parksassociates.com
About FPT Software
FPT is a global IT technology and services provider headquartered in Vietnamwith close US$1.6 billion of turnover, 37,000 employees and development centers around the world. Leading media and entertainment companies trust FPT Software to accelerate their roadmaps. With over 20 years of industry experience, FPT Software has a track record of delivering solutions spanning the media supply chain, metadata, OTT and connected TV applications, end-to-end content delivery end, and more. We also provide services focused on cloud technologies, data and analytics, AI and machine learning, and testing and test automation. We are focused on delivering exceptional customer experiences with a boutique feel.
SOURCE Associated Parks
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