By Kate Ketcham, Senior Director, Subscription Business Line Avid
As we begin to look to 2022, it’s clear that subscription-based business models will continue to gain popularity with media organizations. Research from IDC shows that over half (53%) of all B2B SaaS purchases this year went towards some form of subscription, furthering the point that subscription models are picking up steam.
This is largely due to the resiliency and scalability that subscriptions can provide. It allows organizations, even in the most turbulent of times, to future-proof their business and create the flexibility broadcasters and media creators desperately need to keep operations afloat. Additionally, customers won’t need to look elsewhere for other solutions as subscriptions offer a wide selection of features that easily integrate into the existing system.
The benefits are clear
While most mainstream subscription offerings tend to be pre-defined, bundled software packages, enterprise subscriptions for media creation tools and platforms provide a wealth of customization and quality-rich experiences. Media companies can have the production capabilities they need to operate, while simultaneously enabling them to capitalize on new workflows and solutions that may prove useful tomorrow.
As many enterprise subscriptions are all-inclusive solutions, media organizations are regularly provided with new product or service upgrades, automatically eliminating the need to go through another round of capital funding to finance new software purchases.
Planning for the future, today
With the boom of cloud-based workflows and environments, it seems safe to assume that broadcast and media teams across the media industry will be drawn to them in 2022. It’s hard not to be, given the flexibility, convenience, and customization benefits that subscription models provide.
Looking into the future as more teams will be interested in exploring the different subscription models, the cost-benefits and options to keep future media and broadcast teams producing content in a hybrid world will be another attractive quality. Future looking media companies it would be wise to see the potential present in these technologies.