Bubble Agency and Caretta Research survey also finds 90% of buyers willing to look outside industry for solutions
The third annual State of the Industry Media Technology Buying report from Bubble Agency and Caretta Research has found a large appetite for media technology solutions from outside of the industry.
The report was commissioned by Bubble Agency and conducted by Caretta Research, with around 150 respondents from the broadcast, OTT, production, and telecom markets as well as a series of focus groups.
Findings included that 90% of buyers in the survey group say they would consider vendors outside of the media technology ecosystem for key parts of their supply chain, and 53% of vendor survey respondents are active in markets outside of media and entertainment.
This comes as buyers are looking to move away from end-to-end solutions and have a modular workflow, and most buyers are fundamentally concerned with delivering their core services with high reliability and high quality, rather than launching new services.
Finally, both vendors and buyers are cutting back, with 75% seeing the need to tighten belts and 30% of the survey group have had a hiring freeze which compounds the widespread feeling of being under-resourced. The areas they are looking to invest in include genAI, SaaS and super aggregation.
Sadie Groom, CEO of the Bubble Agency, said: “In the age of efficiency reigning supreme, the data in our report indicates that there are opportunities for buyers and vendors to innovate together. Vendors have a unique chance to adapt to the evolving needs of buyers, and buyers can in turn become influencers and advocate for a vendor’s products and services.”
No comments yet