Multichannel News, US: Cognizant’s Practice Leader, Information, Media and Entertainment, Discusses How to Monetize Content in the API Economy

“Creation and delivery has advanced to the point that consumption is the bottleneck, leaving content providers to compete with sleep,” writes Ashish Chawla. “Providers have so much to deliver, their challenge is how to capture the attention of consumers and maximize what they consume during waking hours." Excerpts:

“The proliferation of digital technologies and platforms over the past decade has drastically impacted how content is developed, delivered and consumed, creating a new ecosystem to align with consumer demand for content packaged in smaller, more digestible units. Application programming interfaces (APIs), which transmit content to and from any destination quickly and cost-effectively, can be used as the mechanism to transfer granular levels of that content, and support new business models such as this.

A key challenge for content providers is to ensure that what they create is stored in a format that enables it to be easily pushed into any new digital platform. As disruptive technologies hit the market faster than ever, providers must adapt more quickly and constantly modify the way they process content to keep up with changing consumption.

The key takeaway is to keep innovating: Yesterday’s value-add is today’s commodity. There is no one-size-fits-all solution, but all content providers can generate value and bolster returns by developing a framework for determining the LCMD of their content and tracking returns at that level.”

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