The media industry is evolving rapidly with new mergers, rising inflation, and the need for profitability putting pressure on broadcasters, media production companies, and streamers to maximize the value of every dollar spent. The adoption of cloud technology has coincided with a shift from traditional capital expenditure models (CAPEX) to an operational expenditure model (OPEX), which allows broadcasters to manage costs, increase efficiency, and improve overall operations.
Cloud technology is driving the shift to OPEX as it provides scalability, streamlined production workflows, and financial advantages. Media businesses can flex their technology footprint up and down as needed to accommodate rising demand and reduce ongoing maintenance costs. However, adopting cloud solutions can be complicated, requiring new workflows and digital tooling that may be unfamiliar to media workers. As a result, companies have the options of hiring new workers, outsourcing, or exploring mergers and acquisitions (M&A) to expand.