How Digital Asset Management Software Can Activate New and Old Content
AI-based DAM technology can help you get the most out of your future content and extend the life of past content.
Summary:
- Content creation is at an all-time high, making digital asset management more challenging daily without the proper tools.
- Digital asset management software is not enough; artificial intelligence is needed to achieve scale and profitability.
- Media organizations in sports, film and TV are leaning on AI-based DAM tools to streamline management, distribution, and monetization.
A staggering amount of content is produced in the media and entertainment industry. According to research conducted by Disney General Entertainment, 559 original series for adults were released in 2021. That’s up 13% from 2020. While you might assume that’s a result of the pandemic, that’s only partially true—when you go back five years, it’s still up by 23%.
When you factor in all of the already produced content, there are thousands upon thousands of hours of material many media organizations are sitting on. And unfortunately, much of this content is at risk of deteriorating or falling into disuse. But thanks to new digitization technologies and cloud-based digital asset management, both new and existing content can be preserved, indexed, and monetized—so you can maximize your return on investment for all of your content production.
Increasing the Longevity of Content
A lot of the content produced decades ago remains in legacy formats, and there isn’t a physical archive in the world that can stop those old tapes and reels from at least partially deteriorating. But brands today can digitize their legacy content to extend its life and ensure that it can be consumed and enjoyed for generations to come. And once those assets are digitized and ideally placed in the cloud, the opportunities to capitalize on all this content just keep growing.
From audio and video to image stills and text, properly digitizing legacy content can open new possibilities for monetization. But no matter the shape or form of content, it all needs processing to make it easily searchable and manageable— and utilizing a digital asset management tool that leverages artificial intelligence is the best way to accomplish this.
Extending the Content Lifecycle with a Digital Asset Management Platform
In the content lifecycle, assets move through four phases: create, manage, distribute, and monetize. The best digital asset management practice comes into play for the last three of these phases. But even after content has been created and digitized, managing, distributing, and monetizing content is still difficult without the AI component.
When content becomes digitized, you need to tag this content to make sure it doesn’t get lost in your archive. AI can auto-tag media and make it searchable in near-real time. An AI-powered DAM solution such as Veritone Digital Media Hub can help you tag and manage your content so that it’s easily searchable, discoverable—and monetizable.
Leveraging the AI ecosystem of aiWARE, a hyper-expansive Enterprise platform, organizations like the San Francisco Giants and the LA Chargers have modernized their content management infrastructure, guaranteeing the preservation and extended use of all their content. At the same time, the content owners have used the technology to set up their own marketplaces using Digital Media Hub’s built-in eCommerce capabilities, such as film archive PROGRESS and Carson Entertainment, home of Johnny Carson’s archival legacy.
To put media through the content lifecycle cost-efficiently and at scale, organizations need a digital asset management solution supported by AI to keep up with today’s hypervelocity of content creation. Without it, organizations will continue to lose visibility on what content they have, minimize their profitability, and work across multiple inadequate solutions for today’s modern content landscape.