IoT, the acronym used for the Internet of Things is something that is beginning to be felt in every industry, from manufacturing to broadcasting. IoT or the internet of connected items, not people is becoming more used and more valuable by the day. Machine to machine communications and people to device communications have made the machines that we use more valuable than the sum of their parts.
IoT is helping electronic companies, home security companies, car companies, manufacturing companies, and even homes to make real waves. Google’s new home division of connected gadgets is beginning to get noticed in the “connected home” space with links to their android systems. 200 million is the paltry sum spent by Samsung to achieve SmartThings, that helps to sync up connected devices inside the home. iWatch, iPhone and iPad are all able to connect to HomeKit and even Facebook is jumping on the bandwagon with Wit.Ai, a Facebook trek into the Internet of Things.
Is Broadcasting and Media able to make inroads into the IoT area or are they doomed to be on the outside looking in? Can media businesses cash in on the big IoT boom? To a point they already are. Innovative and forward thinking companies such as Comcast are working in concert with medical and assisted living specialists to build their XFinity Home and make it more useful to consumers.
According to Greg McKesey, VP of Technology, Irdeto, “The bottom line is that operators’ subscribers are being approached by cable providers, ISPs, telcos, utility companies and others with IoT multi-service offerings.” “The core focus for monetisation for operators will be with incremental subscriptions and a move away from being a dumb pipe provider for the customer.”
IoT for media and broadcasting is not a pipe dream but a reality that is growing by leaps and bounds every day. It will present a significant business opportunity that smart money simply won’t overlook. “While ARPU may only add up to a fraction of the media and network access services revenues that incumbent operators currently enjoy, there is definite potential for accelerated growth at some point in the next 18 to 24 months,” said Simon Trudelle, Senior Product Marketing Director at Nagra.
Does IoT in broadcasting and multimedia really matter? The answer is a resounding yes. It’s the wave of the future. Companies will either ride the wave or sink.