5G Means More Challenges, More Opportunities for M&E
If you can find it, if you try it, you’ll love it! What is it? Oh, come on … it’s 5G. While it’s true that 5G is only available in a few isolated spots around the globe. From the attention the technology got at IBC, it’s already won the content production/delivery race and is totally reshaping the M&E industry. Everyone else can go home. The truth is no one in the ecosystem (content creators, pipe folks/suppliers) left the global broadcast, media technology event to enjoy the fruits of their labor because there’s way too much work to be done to get great content from the creator to the viewer. The one thing we were reminded of was a throw-away question Cisco’s CTO Dave Ward asked at the Entertainment Technology 2019 (ET19) conference a few months ago, “If you can’t do it on the internet, is it worth doing?” The event marked the first time SMPTE (Society of Motion Pictures and Television Engineers) and AIS (Advanced Imaging Society) had joined forces. The combination was good for filmmakers and content owners/distributors to make sense out of what is going on and where we’re going to be in a few years … maybe. The only “facts” even after IBC are:
- Netflix is still the world’s first – and largest – global TV channel.
- In the US, there are more than 200 streaming services and probably 10X that are available worldwide.
- There will be more than 777M global SVOD subscribers by 2023 (Deloitte).
- 5G service will be available to about 45 percent of the global population by 2024 (Ericsson).
- There will be more than 600M homes worldwide with UHDTV by 2023 (ABI).
- 61 percent of 18-29-year olds in the US watch streaming content, 47 percent of folks 22-45 have abandoned traditional TV, even boomers have found the convenience of streaming (Pew Research).
- Globally, consumer IP video traffic will be 84 percent of consumer IP traffic by 2022 (Cisco).
- By 2024, three-quarters of global mobile data traffic will be video (Ericsson).