Chairman and CEO of Avid, Louis Hernandez reveals his predictions for the new year.

Gazing into the Crystal Ball: What Does 2017 Hold for the Media Industry?

As the year draws to an end, we’re looking ahead to what 2017 has in store for us, our customers, and the wider industry. With the industry evolving at a faster rate with each passing year, I’ve been thinking about the trends that will affect us all, and what we can expect to see at the 2017 NAB Show in April. In no particular order, here are a few of the top trends that will dominate 2017:

1. Cloud

Media organizations are looking to the cloud to future proof their technology investments and give them the operational efficiency they need in their workflows, processes and staffing resources. Many of our customers are using our cloud solutions to give geographically dispersed production teams secure access to media assets, enabling them to collaborate efficiently from anywhere in the world. While we’ve seen tremendous growth in cloud deployments this year, we expect that to increase exponentially in 2017 as we turn on more of our applications in the cloud. 2. IP With rapid technological advancements making it feasible to pass professional audio and video signals over standard IP networks, in 2017 we expect to see an acceleration in the industry’s transition from specialized legacy technologies like coaxial cable and baseband SDI to a unified environment for file-based and live media workflows based on IP. IP workflows give media companies greater flexibility and agility, while lowering costs and paving the way for the adoption of new formats like UHD.

3. Multiplatform Distribution

The exponential growth in distribution platforms opens up huge opportunities to reach audiences almost anywhere in the world – whether through OTT services or the myriad of social media platforms. In 2017, we’ll see media organizations aggressively getting into multiplatform distribution—finding low-cost ways to reach audiences through social, digital and OTT—while also maximizing their heritage businesses. Click here to read the full article.