Musings from the Academy on UltraViolet: Big Opportunity with Big Data
Let me start by admitting that I usually abhor industry conferences and summits. Iâ€™ll make an exception for NAB and IBC, mostly because of the, um, ancillary activities â€“ but, for the most part, networking, schmoozing and pontificating arenâ€™t my thing. They are, however, a necessary occupational hazard.
So, imagine my surprise and thrill at last weekâ€™s Academy on UltraViolet, which brought together 250+ industry thinkers (real players, mind you) to talk about the roll-out, strategy and success-to-date (or not) of the new digital rights locker concept â€“ called UltraViolet – brought to market by a consortium which includes a veritable whoâ€™s who of everyone in the industry (except, quite notably, Apple).
I enjoyed this one. I was fascinated by the enthusiasm, hope and tenacity of a roomful of industryites pinning their hopes on the new service as the savior for Home Entertainmentâ€™s dwindling DVD revenues. And, while I think UltraViolet has a long way to go â€“ and a daunting set of consumer-facing challenges they need to overcome (namely: what the hell is a rights locker anyway?) – there is no debating that most major studios have bought in. (Note: Check-out Martyâ€™s blog for a great perspective on the Turtleneck/Hoodie Gap here.)
If I had one bit to contribute to the conversation â€“ a bit that I think will be critical for the studios and content creators who have a MAJOR opportunity to finally understand what/how/when/where their audiences are engaging with content â€“ it would be this: what about the data? UV â€“ if it works; if it does all that the studios and retailers hope it will do â€“ will be yet another channel in this new distribution landscape that finally allows the content creators to do what the box office and big box retail did not: learn about the people who consume their content.
With the ability to mine that data â€“from sources like their own consumer-facing storefronts or their partner retailers- studios will be able to literally read each viewerâ€™s patterns and preferences. Well, read those preferences if they know how. Doing so requires Big Data analytics tools that can tackle the multi-structured data of click-stream, browsing, video engagement, social network analysis and more. And, UV data isnâ€™t the only place this arsenal of analytics can be pointed.
Want to learn more about Big Data Analytics and how you can use it to ramp-up your understanding of viewing behavior and more? Check out this upcoming webinar on May 31st.