IBC 2023: Key Insights and Industry Trends
Authors: Peter Holland and Nick Mackmin-Wood
Hollbridge, a leading talent solutions provider for global OTT & Video Delivery technology companies, Broadcasters, and Content Owners, recently returned from the highly anticipated IBC event in Amsterdam. As one of our biggest European gatherings, we wanted to share our team's impressions and market insights.
Optimism with Caution in Talent Acquisition: While the industry buzz at IBC was generally positive, there was a noticeable caution surrounding talent acquisition. Broadcasters and service providers have been hesitant to hire new talent, a ripple effect from various factors. The recent writers' strike has impacted immediate business for some, particularly in the US market, but vendors are resilient and navigating through this period. Additionally, wider economic uncertainty has led to hiring freezes, primarily driven by investor concerns. However, there's a strong sense of optimism, with many vendors planning to budget for new hires toward the end of this year and into Q1 of 2024.
Cloud Continues to Dominate: The buzz around cloud technology remains prominent, and most companies are actively involved in migrating to the cloud. Nevertheless, the cost of this transition has raised concerns, prompting discussions among industry insiders about a potential revival of on-premises technologies due to cost considerations.
Emphasis on Recurring Revenue Models: The industry is shifting its focus from big one-off tech deals to recurring revenue models. Subscription-based services that create customer stickiness and make it challenging to replace a provider are becoming central to growth and strong forecasting strategies.
Innovative Technologies in Virtual Production: Notably, companies like Vizrt, Pixotope, AE Live, and Zero Density are at the forefront of innovative technologies in Virtual Production. This includes Virtual Studios, Extended Reality (XR), and Augmented Reality (AR). This trend is not confined to traditional broadcasting; it's exciting to see the crossover into the realms of ESports and Gaming, both of which continue to experience robust growth.
Recovery of Attendee Numbers: Encouragingly, the attendance levels at IBC 2023 appeared to have returned to pre-Covid levels, signaling a positive resurgence for the industry and the event itself.
IBC 2023 showcased a dynamic industry that is cautiously optimistic about its future, with a continued focus on technology innovation, revenue models, and talent acquisition strategies. See you next year!
