Staying Ahead of the Curve
Published: Apr 06, 2018
Author: Tim Stevens
Innovation has a lifecycle.
All innovation starts out as a really great idea. When that great idea is fully baked, fine-tuned, and positioned within the right ecosystem, it ceases being an idea and becomes innovation, but the lifecycle for that innovation doesn’t truly begin until it becomes disruptive—i.e., when it:
- Measurably changes the ecosystem, working models, and workflow of an industry.
- Drives necessary digital transformation within that workflow.
- Gives rise to new competitors not previously part of that ecosystem.
- Influences the core revenue model.
But the final phase for innovation in that lifecycle is when it drives (and preferably exceeds) expected outcomes. Whether that outcome is to greater operational efficiency or compelling customer experiences, innovation is both disruptive and productive when it keeps its promises. Nothing is really a “game changer” until the homerun is hit.
Consider the increasing demand for multiplatform content consumption. Millennial-inspired, flexible, mobile consumption is driving innovation from the outside in and changing business models and ecosystems in the media, entertainment and technology industries. Consumers of content and applications are driving companies to change their delivery mechanisms to provide an IP-based, broader reach to enable anytime, virtually anywhere content consumption from any device.
The move is creating new channels of distribution, and the need to enable applications and content availability across multiple platforms is driving the digital transformation phase of the innovation cycle—all with the goal of delivering better, more compelling, on-demand experiences for consumers.
Companies in the content broadcasting space are navigating digital disruption, where emerging technologies and evolving consumer demands are transforming business models. Over-the-top (OTT) streaming, Internet-protocol television (IPTV), and free/subscription content platforms are disrupting the way traditional media providers have owned and managed content delivery to consumers. Consumer behavior, preference, and expectation are the greatest drivers and disruptors shaping the evolving everything-as-a-service industry model. Digital solutions designed to meet those evolving consumer expectations are converging in ways that are significantly transforming media & entertainment.
This will be top of mind for attendees at the upcoming National Association of Broadcasters Show in Las Vegas (Apr 7-12). When it comes to the outcomes they are trying to drive, enterprise companies in this space consistently cite compelling experiences, ecosystem security, digital dexterity, business agility and predictable revenue as top-of-mind priorities.
Verizon will be showcasing solutions that address each of the top five priority outcomes outlined above NAB 2018. Come see us in Booth #SU3202 or visit our conference website.
About the author
Tim Stevens is the Global Lead for Vertical Marketing at Verizon Enterprise Solutions.