Seismic shift in global streaming predicted as ‘Producer Economy’ emerges
A significant global shift in how brands, enterprises, creators, and influencers engage, influence, and interact is predicted as they emerge as producers with true agency and ownership of their distribution and platforms, not just creators of their content, according to Brightcove Inc.
With video streaming increasing and the value of the market, according to Fortune Business Insights, set to top over $1.6 trillion by 2029, the trusted leader in streaming technology is expecting significant changes, including diversification amongst creators and a shift to more engaged direct models for content owners.
Marc DeBevoise, Chief Executive Officer of Brightcove, commented: “Platforms such as YouTube and Netflix have helped take the industry forward to where we are now, but we do not believe these aggregator platforms and services are going to be enough going forward.”
“We see a fundamental shift to owning content, its distribution and monetization, and its distribution platform, with the development and release strategy to super-serve the most loyal and highest value followers, customers, and fans. The internet and streaming have allowed all of these producers to have a more defined and controlled voice, and truly own their digital future and control how their stories are told.”
“Brightcove calls this phenomenon the Producer Economy.”. The Producer Economy is the concept that brands and creators can now have more control of content creation, distribution, and monetization by building robust, multi-channel businesses across multiple established platforms and creating their own direct-to-audience platforms for their deepest and most loyal users, adding control of their first-party data.
Brightcove highlighted its key predictions for this emerging trend during Brightcove PLAY Season 1, a streaming experience that features 30+ episodes of unique expert insights on how businesses can leverage the power of streaming to grow their digital businesses and reach. These predictions include:
- Creators will seek broader distribution and new ways to monetize content, including working with and extending beyond existing aggregators and services. Creators will diversify to own their own capabilities in creation, distribution, and audience, creating their own direct-to-consumer channels, endpoints, sites, apps, and Free Ad-supported Streaming TV (FAST) channels.
- All companies and brands with consumers or customers on the internet will embark on further digital transformation and expand their audience reach across various owned and controlled channels and utilizing social networks and platforms.
- The streaming ecosystem will evolve to enable creators to become producers with the ability to create, upload, store, manage, distribute, own their own platforms, own their data, and measure their content at all times.
Marc DeBevoise added, “The move from creator to producer is critical. We currently operate in a robust market for streaming, and we also know how rapidly things can change.
A platform can change its algorithm anytime, changing the audience. A funder of content can change their minds, cancel shows, and move on to new content.
Brands and companies need to be able to tell their stories and stream their video to audiences across all digital platforms, including their own and 3rd-party platforms. If you’re not ready now as a company, you will need to be very soon, or you won’t have the consumers and customers you have today.”