MEDIAGENIX: Why changing the B in BMS means business
August 23, 2022
Now that Content Lifetime Value is the critical currency of success in the multiplatform era, a lean machine should manage it with capabilities that extend far beyond the functionality of the traditional Broadcast Management System. With one source of truth, touchless operations, and actionable intelligence, the WHATS’ON Media Business Management Platform by MEDIAGENIX enables media companies to maximize Content Lifetime Value from four angles: multiplatform operational efficiency, cross-functional collaboration, multiplatform audience engagement, and content monetization.
Figure 1: Media companies need to complement their insights into Customer Lifetime Value with insights into the historical and predictive performance of all pieces of content over their potential cross-platform lifetime.
In the evolving multiplatform, multiformat and multilanguage reality of the fragmented viewer market, the traditional Broadcast Management System has reached its limits when it comes to maximizing the return on increasingly heavy content investments. In this new reality, media companies need to complement their insights into Customer Lifetime Value with insights into the historical and predictive performance of all pieces of content over their potential cross-platform lifetime. In other words: media companies need an industry-specific business solution to measure, control and master Content Lifetime Value as a critical business metric.
Maximizing the Content Lifetime Value
Content Lifetime Value depends on how well you engage your audience across diverse platforms. In a dynamic, fragmented market, maximizing audience engagement means repurposing, reusing and retargeting inventory across many platforms and business models and having the operational flexibility to maximize impression-based transactions at the lowest possible costs.
Whether you can do this at the lowest possible cost depends on how well you can make your content supply chain low-waste and multiplatform-efficient. It requires efficient collaborative workflows on content, exploitation rights, planning and all content-related processes across the company. This can only be achieved by establishing a data loop between the organization’s strategic, operational and execution levels and connecting the workflows of people all along the content supply chain around one source of truth.
That is why the basic functionality of the Broadcast Management System needs to be extended with a solid data-centric architecture and specific supply chain functionalities for lean operations. More than a system, it should be a platform that enables ecosystems for collaboration and data flow based on open interfaces and easy integration with various applications. More than a Broadcast Management Platform, it should be a Business Management Platform that helps the broad spectrum of media companies ensure an optimal return on content investment.
Driving business performance on four levels
The WHATS’ON Media Business Management Platform by MEDIAGENIX is geared at maximizing return on content investment on four levels: multiplatform operational efficiency, cross-functional collaboration, multiplatform audience engagement, and content monetization. Pivoting on one source of truth, actionable intelligence and touchless operations, the platform enables a lean and smart content supply chain that with data-driven workflows around content, rights and planning reduces operational costs and hidden supply chain waste while it leverages company-wide empowerment to drive business performance.
The rich WHATS’ON functionality, the elimination of repetitive tasks, the facilitation of cross-departmental collaboration and the many benefits of best-practice innovation also ensure rapid user adoption throughout the company. The MEDIAGENIX capabilities for integration and adaptation, and the proven track record of successful deployment on time and on budget further ensure fast time-to-value and a substantial return on investment.
The resulting empowerment of the entire organization will create the agility to secure and extend the competitive market position. Without this empowerment, the operational costs of managing multiple platforms and business models will quickly spiral out of control.