The global AI market in the media and entertainment industry is expected to reach US$8.4 billion in 2023 at a CAGR of 30.0% from 2018.
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Potential Use-Cases
Content Recommendation
Recommendation engines recommend content based on user interests.
Responsive & Adaptive Gaming
AI-powered interaction via non-player characters deliver a real gaming experience.
Personalized Targeting
The machine learning model determines user traits to show personalized content.
Subtitles Synchronization
Neural networks are trained to synchronize subtitles automatically.
Surveil
AI helps supervise live programs and monitor broadcasts proactively to mitigate any mess.
Robot Journalists
Automated content generation through data collection and analysis.
CLV Prediction
Customer Lifetime Value prediction to intelligently bid in advertisements.
Sales & Marketing
According to McKinsey Analytics, AI is expected to add over 300 billion in sales marketing in the media sector.
Pricing & Promotion – $107.4 B
Churn Reduction – $64.9 B
Customer Service Management – $63.6 B
Personalized Offering – $34.8 B
Marketing Budget Allocation – $26.0 B
Customer Acquisition – $3.5 B
How Netflix uses AI?
- Netflix predicts future demands and positions the assets on the server strategically to ensure high-quality streaming even during peak hours.
- Netflix landing cards give personalized recommendations to see which one gets more clicks.
- ‘Similarity map’ by Netflix helps in thematic comparison of shows based on tags, metadata, and summaries.
- Netflix uses an AI model to predict show performance in different regions.
- During pre-production, location scouting helps know the best place to shoot a movie, given the budget, constraints, weather conditions, and risks.
- Automated movie editing post-production enables editing rapidly and identifies the points where manual checks are required.
