The AI Advantage
In the rapidly evolving media and entertainment industry, Artificial Intelligence quickly became an indispensable instrument for streaming platforms. The next generation of successful content providers will involve intensely personalized experiences, made possible by AI.
There are two areas where the impact of AI is clearly disruptive: personalization and ad relevance.
New levels of personalization
Content analysis is a field where AI capabilities can be invaluable. The AI-powered analysis allows streaming platforms to understand their content exponentially better, improving content discovery and recommendation systems for users.
Content analysis with new AI Large Language Models (LLM) results in accurate content personalization: new capabilities include individual playlists, accurate video recommendations, and dialogue with each user. Granular personalization boosts engagement and retention rates by up to 100%.
AI capabilities can also be leveraged for content moderation, ensuring user-generated content is appropriate and adheres to community guidelines. This improves user experience and promotes a safe and inclusive platform.
Customers love accurate, relevant, personalized content
A report from Epsilon revealed that 80% of customers are more likely to engage with a media company when the brand provides them with an accurate personalized content experience.
AI applications are able to provide customers with the content that would be most appealing to them, including factual information, podcasts, videos, or community discussion forums.
New levels of ad targeting
AI is also being used for personalized ad targeting, which increases conversion rates by 50% and provides a more relevant advertising experience for users and better ROI for brands. By analyzing user data, AI algorithms can target ads to specific users based on their interests, demographics, behavior, and intent, with the right frequency.
Why is it relevant? A report from Accenture showed that 91% of customers said that they are more likely to purchase from a brand that knows them and provides them with relevant recommendations and offers.
From personalization and recommendation systems to content analysis, engagement, ad targeting, and even content creation, AI can enhance virtually every aspect of a streaming platform. As AI technology continues to evolve, we can expect to see even more exciting developments in the future.
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