The report, by Bubble Agency and Caretta Research, also found three-quarters of vendors and buyers are seeing the need to tighten belts
By Jenny Priestley
Published: September 11, 2023
The report, by Bubble Agency and Caretta Research, also found three-quarters of vendors and buyers are seeing the need to tighten belts
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A new report has found that 90 per cent of media technology buyers would consider vendors outside of the media technology ecosystem for key parts of their supply chain.
Buying Media Technology in the Age of Efficiency, produced by Bubble Agency in partnership with Caretta Research, surveyed global respondents in the broadcast, OTT, production, and telecom markets.
It also found:
Buyers are moving away from end-to-end services and would prefer to implement modular solutions which integrate with their existing stack.
53% of vendor survey respondents are active in markets outside of media and entertainment.
Most buyers are fundamentally concerned with delivering their core services with high reliability and high quality, rather than launching new services.
75% of vendors and buyers are seeing the need to tighten belts and 30% of the survey group have had a hiring freeze which compounds the widespread feeling of being under-resourced.
The report reveals how buyer and vendor relationships are changing, with buyers placing greater emphasis on direct communication to better understand products and services.
Key trends attracting investment include generative AI, SaaS and super aggregation, it adds.
Buyers are taking a pragmatic approach and focusing on technology that fits their strategic priorities, as they explore ways to remain competitive and protect revenue, states the report.
In the age of efficiency reigning supreme, the data in our report indicates that there are opportunities for buyers and vendors to innovate together, said Sadie Groom, CEO, Bubble Agency. Vendors have a unique chance to adapt to the evolving needs of buyers, and buyers can in turn become influencers and advocate for a vendor's products and services.
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The report, by Bubble Agency and Caretta Research, also found three-quarters of vendors and buyers are seeing the need to tighten belts
