Tata Comms Media, which makes its debut at IBC2024 from September 13-16 in Amsterdam, has announced new research revealing that global corporations overwhelmingly view video as a vital element of their communications strategies. In a survey of 300 major enterprises based in the US or UK, the research found that almost half of companies are boosting their budgets in this area by more than 50 percent.
Tata Comms Media, which is the new unified brand that combines all Tata Communications’ media and entertainment entities into one business unit, announced on the eve of IBC that its new report The Rise and Rise of Video and Livestreaming in the Enterprise report shows that 99 percent of respondents recognise online video as important to their organisation going forward, with nearly half (48 percent) deeming it critical.
The full report will be published in late October 2024. In advance of the full report being available, Tata Comms Media shared a series of updates spotlighting the key trends
Tata Comms Media commissioned Sapio Research to conduct a survey of 300 major enterprises based in the US or UK in sectors such as finance, technology manufacturing, healthcare, and retail. The research also shows that 46 percent of the organisations surveyed increased their budgets in this area by more than half over the past two years, with 44 percent planning to do so in the next two years.
Only 2 percent of respondents have failed to increase their video budgets. The primary motivations for this increased investment include the perception that high-quality video is a hallmark of modern enterprises (57 percent), the need to boost sales (53 percent), and a desire for better content (53 percent).
In listing their top three online video priorities, more respondents named livestreaming (60 percent) events – such as product launches, investor briefings, and customer conferences – than any other type of streamed content.
Dhaval Ponda, vice president and global head of media & entertainment at Tata Communications, said: “Video now sits at the core of communications across major global organisations. These findings highlight the strategic role video plays in enhancing corporate image, improving communication quality, and driving business growth – now and in the future.”
He added: “The shift towards more extensive use of video is about strategic deployment across multiple platforms and formats. Enterprises are leveraging video to boost a multitude of functions, driving sales, enhancing training, engaging their industry through social media, improving websites, and creating informative live and recorded content. The research shows just how powerful and strategic video – especially live content – is seen as a communications tool across the corporate sector.”
AT IBC2024 Tata Comms Media will showcase its expanded range of cloud-first IP media services and end-to-end media workflows. The team on the booth at IBC2024 will take visitors through a case study that reveals how Tata Comms Media works with Formula E, the world’s premier electric vehicle racing series, to implement a global internet-only IP set-up for each of its events.
Visitors to IBC2024 can find Tata Comms Media on Booth 14. H06.
