Media & Entertainment: Make or Break Success with APIs
Globally, there is a drastic shift in the media consumption. The rise of smart mobile devices has resulted in fewer people being reliant on traditional and often static forms of media interaction.
On-Demand media distribution options have increased exponentially in recent years; making media businesses outselling their ‘brick and mortar’ to competition or causing them to close down entirely – Blockbuster Video being the most well-known example of the latter.
As with other sectors, implementing digital transformation via APIs can help traditional and digital-native businesses to survive and thrive in a marketplace that has become more crowded. As a result, every form of interaction and interface with customers must utilize a “complex supply-chain of actors” to ensure that content and services are brought to the digital devices of customers, as efficiently, quickly and effortlessly as possible. Increased just-in-time and digital payment options have, as elsewhere, ratcheted up the “sink-or-swim” factor.
Netflix, as an example, has developed what it calls the Netflix API, which operates in the company’s words as a “‘front door’ to the Netflix ecosystem of microservices” to ensure that this ecosystem works as seamless as possible for customers, of which it has, of January 2018, 117.58 million worldwide. The API allows Netflix to not only distribute streaming video content to this large customer base but to also “remember” viewer preferences, billing information, geolocation information, as well as ascertain what other shows or films the service can be recommended to customers.
In the media and entertainment world, it is just as important that APIs strategy is taken on board, as it would be in any other sector such as banking. The digital economy brings with it a disruption to the traditional modus operandi of several industries. In order to thrive, technologies that are tailored for the challenges of the changing of the media and entertainment landscape must be sought out and incorporated, to avoid the digital economy graveyard.