The end of the year is upon us once again, and what a year it has been! 2024 has well and truly re-defined the standards for many areas of the broadcast and media industry, introducing brand new concepts and re-thinking our workflows for good. Many of the themes and trends we saw as we left 2023 have only grown up this year, with AI, monetisation and FAST being hot topics among vendors everywhere.
As the industry continues to grow, change and develop, streaming services and content providers will persevere in adapting to the changing M&E climate, perfecting their approach and experimenting with new workflow elements and delivery considerations. In 2023, the industry experienced the fallout of unprecedented cut-backs to consumer spending, putting the economic climate well and truly in the spotlight for industry professionals. In 2024, BVOD, AVOD and FAST services have made leaps and bounds in re-defining their role in the industry, taking note of and implementing many new concepts into their workflows.
2024 was a big one for Veset, with the launch of VesetAdWise; our advanced, cloud based, in-video advertising solution. AdWise launched at the start of February, and since then, the ad-tech and monetisation community has seen substantial growth among consumers and content providers alike. Designed and constructed as a new and innovative approach to this evolving trend, AdWise sets a new precedent for Veset and its customers, offering a new and unique ad-tech solution that addresses monetisation head on at the source. Utilising picture-in-picture technology, Veset AdWise allows content providers to seamlessly integrate custom formatted ads into live feeds.The main broadcast content is elegantly squeezed alongside the ad, utilising the extra space for dynamic capabilities, and making it the ideal solution for live broadcast and streaming needs.
Another key moment for Veset has been the various trade shows we attended in 2024, the biggest highlights being NAB Las Vegas, IBC and Inter BEE. It is super important to us that we keep our finger on the pulse and industry events are a fantastic opportunity for us to meet existing and new customers face to face, get immersed in the trends and explore new products and launches on offer from the industry. This year, almost every show was dominated by AI, and this made our experiences extremely unique, with practically every content provider, broadcaster and vendor announcing new and innovative projects at each event. 2024 has been a wonderful year for the industry – jam-packed full of growth, development and innovation from every angle.
As well as being a fantastic year for trends and innovations in the industry, 2024 has been a colourful and successful year for our Veset team. Working together, the Veset team has achieved various team trips, achievements and team building opportunities, showcasing the huge variety of talent we have to offer.
Back in May, our team took a fun and much-needed boat trip on the Brasla River, embracing the beauty of Latvian springtime and taking in the fresh air. Team-bonding activities like this one are so important to us as a team, as it gives us the chance to rejuvenate and recharge, ready to take on the new week, month and rest of the year. Later that same month, Lelde completed a remarkable performance in the Estonian Ladies Cycling Tour, hitting it out of the park even in the face of such hot weather. Gatis, Andzs and Kristaps also achieved incredible feats with their completion of the Riga Half and Full Marathon, showing outstanding endurance and determination. In August, Lelde and Martins took a memorable trip to Malaysia to visit our global partners, and while there, enjoyed the local sights including an iconic and mesmerising trip to the Petronas Twin Towers. And at the end of the year - we visited Inter BEE in Tokyo, another great experience. Our team is so grateful to have the opportunities we do in visiting our customers and strengthening partnerships with valued clients all over the globe, and this trip to Malaysia was just one of the many lovely visits we have had to such beautiful places. We are so lucky to be part of such a courageous and talented team, and we’d like to congratulate everyone for their hard-earned feats this year. Here’s to many more!
At this year’s IBC, Martins had the pleasure of being a panellist on the Content Everywhere session ‘Cloud Strategies and the Latest CE Cloud Use Cases’ where he shared his expertise in cloud infrastructure, orchestration and security amidst the ever-changing industry landscape. Accompanied by an esteemed panel, Martins had a blast representing Veset – you can watch the panel here if you haven’t already! Also at IBC, Gatis took part in an interview with IABM, which can be viewed here, discussing the latest news and innovations from Veset, particularly Veset AdWise, exploration with AI and the newly announced JPEG XS integration from Veset Nimbus. Lelde also had her time in the spotlight during an interview with Asia Pacific Broadcasting (APB) where she discussed the latest from Veset, upcoming announcements and trends to watch out for. Check it out here to listen to our insights.
This year has certainly been one for the books, and here atVeset we have noticed some particularly exciting and transformative changes taking place across M&E. The trends influencing the industry have been AI, Machine Learning (ML) and automation. At every turn this year, the show floors have been flooded with new AI products, ever-changing AI developments and huge industry players jumping on the AI bandwagon. While some might say much of the AI products and hype this year has been for the sake of it, there have been some genuinely exciting and innovative approaches to AI that we have no doubt will shape the future of the broadcast and media industry in the years to come. AI is already assisting in streamlining workflows, improving cloud computing capabilities and increasing data collection and analytics. 2024 has seen the start of a huge journey for AI, and we are looking forward to seeing how it evolves.
Another massive trend this year has been monetisation, particularly among streaming services and FAST applications. In 2023, we saw a substantial dip in consumer spending, creating financial strain on the industry, and as a result, this year has been focused on fixing and readjusting the approach to monetised content. The innovations in ad-tech and in-video advertising in 2024 have been astronomical, with AI yet again making an appearance linked to data and analytics, helping content providers manage budgets and streamline operations. As we continue to see the evolution of the broadcast industry, it will be interesting to see what content providers have up their sleeves to manage expectations and succeed in this ever-altering environment.
With the end of 2024 comes brand new opportunities for 2025, and we are so excited to see what is in store for us here at Veset. It’s no secret that the new year will be full of more surprises, developments and trends, and the industry will need to be prepared for whatever 2025 throws at us.
Fancy reaching out to us in the new year to discuss your cloud playout workflow and get set for a brand new year full of content and opportunities? Get in touch today.
We are looking forward to a brand new year full of partner opportunities, trade shows, innovation and team achievements – bring on 2025, we’re ready!
