Sony Pixel Power calrec Sony

Life after coronavirus: The media tech industry will thrive and survive!

21/04/2020

Telestreams CEO Dan Castles looks at what the next 12 months holds for the media tech industry

By Contributor

Published: April 21, 2020

Telestream's CEO Dan Castles looks at what the next 12 months holds for the media tech industry

target=_blank title=Share on LinkedIn class=share-linkedin> Telestream's CEO Dan Castles looks at what the next 12 months holds for the media tech industry

https://www.tvbeurope.com/features/life-after-coronavirus-the-media-tech-industry-will-thrive-and-survive title=Share via Email class=share-email>

We live in extraordinary times. Apart from a very small group of macro economists, nobody will have foreseen COVID-19. At Telestream, we have a robust series of strategies in place for most eventualities, but also, we are having to approach the current situation with flexibility and coordinated actions. Questions arise of what the broadcast industry will look like when we return to normality.

Most business managers have been through economic crises before - each time the agony is different. In previous economic downturns, everyone was still working on premise and the business flow, though challenging, was the same. With COVID-19, so many people now work from home and that is very foreign for all of us. Basic things like getting purchase orders approved remotely can be tough, so everything gets slowed down and there is a discovery process for all concerned regarding how to conduct business. Also, in past downturns, things like basic human health was not part of the equation.

With countries accounting for over 50 per cent of world GDP in lockdown, this is a truly global crisis. We see the global impact everywhere which is natural as COVID-19 doesn't seem to discriminate! I also believe the best path to getting back to normal is one of full cooperation throughout the world versus region by region. Travel will never return to normal if pockets of the world still struggle against the pandemic. Telestream has been fortunate in that what we do is critical during a crisis like this, so our business has remained strong, yet challenging, as nothing is easy.

COVID-19: the business perspective

COVID-19 is impacting different economic sectors in different ways. For Telestream, it has been interesting. For all the wrong reasons, COVID-19 has helped sales of some of our products, most notably our video streaming products like Wirecast. Schools, churches, and any organisation where communication is critical have zeroed in on Wirecast as being the best tool out there.

Regarding how we provide technical and operational support to these customers, we are set up to offer technical support remotely already, so that aspect has been more seamless for us.

But will all vendors in our core markets, survive COVID-19? No, not all companies will survive. In general, those without funding sources who can inject additional capital will fail due simply to a lack of cash. Also, those companies whose customers are in segments most impacted will struggle and it's natural that many will not make it. We are aware of many, many companies experiencing 50 per cent declines in revenue and they just can't handle that impact for very long if they don't have financial resources available to them.

We are just starting to see less restrictions on social distancing - both in the US and in parts of Europe. I am a huge fan of social distancing and have seen its impact on flattening the curve . I believe it is premature at this point to reduce the restrictions and we need another 30 days of renewed commitment around the world to continuing these measures or else we will be back in the fall timeframe discussion how COVID-19 has made a comeback.

But just how quickly can economies and businesses bounce back? I believe Q2 is going to be just plain tough. Q3 will be improved and maybe to the point where you would call it mediocre from normal times. Q4 will be stronger yet, but still not normal. I believe normal is only possible once a vaccine is available. I also believe over the next 12 months, we all will be dealing with COVID-19, hopefully to less and less of an extent, but it will be with us for some time and it will have some sort of a resurgence once current practices are relaxed. I'm not being negative here; only realistic.

COVID-19's long-term impact in the broadcast and electronic media industries

Two impacts will be felt long term. This pandemic has shown media folks they need to have disaster recovery and remote operations capabilities. They have all learned by now, they did NOT have this in place. So, I see a continued emphasis on getting these operations more secure in case this ever happens again.

Also, I see industry trade shows being impacted as for most, if not all, of 2020: trade shows will not be taking place and all vendors are forced to figure out virtual approaches to launching products and staying in touch with customers. As a result, vendors will not automatically revert to pre-pandemic forms of communication.

Worldwide, massive numbers of staff are learning how to work from home. There must be a question of whether we will revert to traditional office-based working practices post shutdown or will remote working become a more common thing? Based on Telestream's experience, I completely believe remote working will be a more common practice. I think this will be one of the lasting impacts of COVID-19 frankly. The lack of traffic congestion, reduced pollution, people saving money from reduced fuel costs, and the overall level of productivity possible with some form of remote working will create the motivation for continuing this practice on some level.

In this respect, every cloud has a silver lining anything we can collectively do as a world to reduce pollution is a great thing!

And another silver lining for compan
LINK: https://www.tvbeurope.com/features/life-after-coronavirus-the-media-te...
See more stories from tvb

Most recent headlines

14/03/2025

Avid Appoints New CTO, Adds to Its Executive Leadership Team

BURLINGTON, Mass. Avid has expanded its executive leadership team (ELT) with the appointment of three experienced executives: Tom Sharma as chief technology off...

14/03/2025

TVU Networks Celebrates 20 Years of Innovation at 2025 NAB Show

CUPERTINO, Calif. TVU Networks, a pioneer in live video production and a leader in cloud-based media solutions, is marking its 20th anniversary at the 2025 NAB ...

13/03/2025

You Will Leave Opus Singing the Original Bops Performed by John Malkovich

(L-R) Stephanie Suganami, Tatanka Means, John Malkovich, Ayo Edebiri, and Juliette Lewis attend the premiere of Opus at Eccles Theatre in Park City. (Photo by...

13/03/2025

How Spotify Is Driving Growth, Discovery, and Innovation in the Audiobook Market

Spotify took center stage at the London Book Fair this week, reaffirming our commitment to the audiobook market and showcasing our impact on the publishing indu...

13/03/2025

Spotify Audiobooks Launches a New Publishing Program for Independent Authors

At Spotify, we work every day to lift up new voices, giving creators the opportunity to live off their art. Through Spotify Audiobooks, our in-house publishing ...

13/03/2025

Evolving EO/IR Technology For All-Domain Airborne Law Enforcement

Every time airborne law enforcement (ALE) teams fly, they expect their equipment to perform. Whether airborne units are conducting support for ground teams, bor...

13/03/2025

Craft Interview: Jamie McCombs, Audio Consultant / Sr. Audio

Sunday February 9 saw the annual return of the US' biggest television event, the Super Bowl LIX. Jamie McCombs, Fox Sports Audio Consultant / Sr. Audio capt...

13/03/2025

Craft Interview: Paul Sandweiss, Production Sound Mixer/Audio Director

On Sunday March 2, stars across the film industry gathered at the Dolby Theatre in Los Angeles for the 97th Academy Awards. Production Sound Mixer Paul Sandweis...

13/03/2025

Riedel To Showcase New StageLink Smart Edge Devices At 2025 NAB Show

WUPPERTAL, Germany Riedel Communications will feature its new StageLink family of smart edge devices, Smart Audio and Mixing Engine (SAME) and Virtual Smart Pan...

13/03/2025

TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring for VOS360 Streaming Workflows at the 2025 NAB Show

TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring ...

13/03/2025

DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage Platform that Empowers Video Teams to Scale Effortlessly

DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage P...

13/03/2025

FOR-A America Theme - Connecting the Present, Building the Future - Comes to Life at NAB 2025 Exhibition

FOR-A America Theme - Connecting the Present, Building the Future - Comes to Lif...

13/03/2025

Ajit Pai Appointed President of CTIA

CTIA, the wireless industry association, has named former FCC Chairman Aji Pai as its President and Chief Executive Officer, effective April 1. He replaces Mere...

13/03/2025

NAB: FCC's 60 Minutes Investigation Is Unconstitutional, Invalid

he National Association of Broadcasters is urging the FCC to end its investigation of that controversial CBS interview with Kamala Harris stating there is no ...

13/03/2025

CBS Miami to Launch AR Coverage of Weather and Sports for March Madness

MIAMI CBS News & Stations continues to expand its use of augmented and virtual reality technologies with the planned launch of an augmented reality/virtual real...

13/03/2025

Meet the co-founder and chief customer success & innovation officer

Srividhya Srinivasan, co-founder and chief customer success & innovation Officer at Amagi, tells TVBEurope how staying ahead of the latest trends is essential f...

13/03/2025

FCC Chairman Carr Launches Massive Deregulation Initiative

WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...

13/03/2025

SDVI Integrates Rally With Spectra Vail

SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...

13/03/2025

FCC Approves Gray's Acquisition of KXLT

ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...

13/03/2025

NAB Show 2025 Exhibitor Insight: Blackmagic Design

TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...

13/03/2025

Watch Student Naomi Soleils Folk Pop Performance on The Voice

Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions. ...

13/03/2025

Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content

Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content Feature marks Rokus first women's league-branded zone within service By Bra...

13/03/2025

Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew Cross

Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew...

13/03/2025

SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size on Completing Customizable Studios for All Clients

SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size ...

13/03/2025

IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036; Add Digital Projects, Initiatives

IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036;...

13/03/2025

NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical Video Feed, Mascot Mode, and Popular Boss Button

NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical...

13/03/2025

SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive Experience for Daytona, The PLAYERS, and March Madness

SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive...

13/03/2025

Sky Business Launches Cloud Voice A New Cloud Communication Solution for UK Businesses

Sky Business, Sky's B2B division, providing connectivity and content to busi...

13/03/2025

Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark for F band applications

Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark ...

13/03/2025

The ICG Marketing Survey 2025

We asked the questions, analysed the answers and now we're excited to share the results of the fifth edition of the ICG Marketing Survey. Our 2025 survey p...

13/03/2025

Harmonic Amps Up Video Streaming Efficiency with New Origin Capabilities

SAN JOSE, Calif. - March 13, 2025 Harmonic (NASDAQ: HLIT) today announced a breakthrough in video streaming innovation with the launch of new origin capabilitie...

13/03/2025

Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025

Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025 Haivision's video wall systems, ISR technology, and DoDIN APL-certified video distri...

13/03/2025

FOR-A America Theme Connecting the Present, Building the Future Comes to Life at NAB 2025 Exhibition

Company Leads the Way with New Software-Based Production Platform, 12G Switcher,...

13/03/2025

2025-03-13

A new Apple Immersive concert experience, Metallica, is coming to Apple Vision Pro this Friday, March 14. Filmed in Mexico City during the sold-out second-year ...

13/03/2025

Italia 90 Republic of Ireland Squad, Riverdance, Cian Ducrot & B*Witched on Friday's Late Late Show

Here is your host, Patrick Kielty! Shake your Shamrocks, Patrick Kielty will be...

13/03/2025

RT Celebrating all things Irish this St. Patrick's Weekend

This St. Patrick's weekend, RT invites you to celebrate all things Irish, showcasing the very best of Irish sport, entertainment and live coverage from the...

13/03/2025

GTC 2025 - Announcements and Live Updates

What's next in AI is at GTC 2025. Not only the technology, but the people and ideas that are pushing AI forward - creating new opportunities, novel solution...

13/03/2025

T-Mobile, Thales and SIMPL ease IoT deployments with a flexible and secure connectivity solution

Facebook Twitter LinkedIn By combining T-Mobile's robust network, Thal...

13/03/2025

Relive the Magic as GeForce NOW Brings More Blizzard Gaming to the Cloud

Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library. Prepare to weather epic gameplay in the cloud, tackling the genr...

13/03/2025

Gaming Goodness: NVIDIA Reveals Latest Neural Rendering and AI Advancements Supercharging Game Development at GDC 2025

AI is leveling up the world's most beloved games, as the latest advancements...

13/03/2025

Drop It Like It's Mod: Breathing New Life Into Classic Games With AI in NVIDIA RTX Remix

PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...

12/03/2025

Como o Impacto Cultural e Financeiro da Indstria Musical Define Seu Sucesso em 2025

O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...

12/03/2025

Cmo el impacto cultural y financiero de la industria musical define su xito en 2025

Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...

12/03/2025

Nourish Mind, Body, and Soul This Ramadan With Spotify

Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...

12/03/2025

How the Music Industry's Cultural and Financial Impact Define Its Success in 2025

Spotify has just unveiled this year's Loud & Clear report, a transparent loo...

12/03/2025

FAST now transcends back catalog content

More than 70% of FAST programming has been produced since 2010, according to new Gracenote report NEW YORK March 12, 2025 Gracenote, the content data busin...

12/03/2025

Viamedia Adopts ShowSeeker Pilot To Streamline Ad Workflows

GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...

12/03/2025

Mediagenix Appoints Wael Yasin as Sales Director Central Europe

BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....

12/03/2025

Omdia: Global Online Consumer Expenditure to Hit $6.6 Trillion by 2029

LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...

12/03/2025

Comcast Technology Solutions Upgrades to Interra Systems BATON Version 9

CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....